Stephens Reiterates “Overweight” Rating for Wingstop (NASDAQ:WING)

Wingstop (NASDAQ:WING)‘s stock had its “overweight” rating restated by analysts at Stephens in a research note issued to investors on Thursday,Benzinga reports. They currently have a $200.00 price objective on the restaurant operator’s stock. Stephens’ price target points to a potential upside of 43.42% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. BTIG Research reissued a “buy” rating and set a $305.00 target price on shares of Wingstop in a report on Monday, July 13th. DA Davidson dropped their price target on shares of Wingstop from $230.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Weiss Ratings lowered shares of Wingstop from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Wells Fargo & Company reduced their price objective on shares of Wingstop from $200.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Finally, Bank of America decreased their price objective on Wingstop from $264.00 to $234.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $253.70.

Wingstop Trading Up 3.4%

Shares of WING stock opened at $139.45 on Thursday. The business’s 50-day moving average price is $152.29 and its 200-day moving average price is $189.66. Wingstop has a 12 month low of $116.35 and a 12 month high of $381.45. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 1.62 and a beta of 1.79.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. Wingstop had a negative return on equity of 16.22% and a net margin of 15.77%.The company had revenue of $185.56 million for the quarter, compared to analysts’ expectations of $190.25 million. During the same period in the previous year, the business posted $1.00 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Wingstop will post 4.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Swiss Life Asset Management Ltd boosted its stake in shares of Wingstop by 9.8% in the 2nd quarter. Swiss Life Asset Management Ltd now owns 1,719 shares of the restaurant operator’s stock valued at $298,000 after purchasing an additional 153 shares during the last quarter. Ausbil Investment Management Ltd bought a new position in Wingstop during the second quarter worth $1,085,000. Handelsbanken Fonder AB raised its stake in Wingstop by 14.7% during the second quarter. Handelsbanken Fonder AB now owns 8,564 shares of the restaurant operator’s stock worth $1,485,000 after buying an additional 1,100 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Wingstop in the second quarter valued at $18,381,000. Finally, GAMMA Investing LLC lifted its holdings in Wingstop by 35.9% in the second quarter. GAMMA Investing LLC now owns 382 shares of the restaurant operator’s stock valued at $66,000 after buying an additional 101 shares during the period.

Key Stories Impacting Wingstop

Here are the key news stories impacting Wingstop this week:

• Positive Sentiment: Earnings exceeded expectations: Wingstop reported fiscal second-quarter adjusted earnings of $1.18 per share, up from $1.00 a year earlier and above the $1.02 analyst consensus. Wingstop Tops Q2 Earnings Estimates
• Positive Sentiment: Expansion remained strong: The company opened 102 net new restaurants during the quarter, driving 16% unit growth. System-wide sales reached approximately $1.4 billion, supporting Wingstop’s long-term growth strategy. Wingstop Fiscal Second-Quarter Financial Results
• Positive Sentiment: Dividend increased: Wingstop declared a quarterly dividend of $0.33 per share, a 10% increase from $0.30. Investors of record on August 15 will receive the payment on September 5, providing a modestly stronger shareholder return.
• Positive Sentiment: Promotional visibility may support traffic: National Chicken Wing Day promotions, including free wings and a $1 million prize campaign, are increasing consumer awareness and could help attract customers to Wingstop restaurants and its digital channels. Wingstop National Wing Day Promotion

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.