Wingstop (NASDAQ:WING) Stock Falls 5.1% – What’s Next?

Wingstop Inc. (NASDAQ:WING)’s share price traded down 5.1% during trading on Tuesday. The company traded as low as $117.55 and last traded at $116.5950. Approximately 97,146 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,178,915 shares. The stock had previously closed at $122.88.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WING shares. DA Davidson set a $180.00 price target on Wingstop in a report on Thursday. Citigroup dropped their price target on shares of Wingstop from $208.00 to $191.00 and set a “buy” rating on the stock in a report on Friday, October 16th. Stephens reaffirmed an “overweight” rating and set a $200.00 price target on shares of Wingstop in a report on Thursday, July 30th. UBS Group reissued a “neutral” rating and set a $140.00 price objective on shares of Wingstop in a report on Thursday, October 15th. Finally, Robert W. Baird lowered their price objective on shares of Wingstop from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $228.96.

Wingstop Stock Down 3.8%

The firm has a market capitalization of $3.22 billion, a PE ratio of 28.40, a PEG ratio of 1.44 and a beta of 1.81. The stock’s fifty day simple moving average is $113.24 and its 200 day simple moving average is $167.22.

Wingstop (NASDAQ:WING) last issued 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 net margin of 16.15% and a negative return on equity of 16.31%. The business had revenue of $185.56 million for the quarter, compared to analysts’ expectations of $190.25 million. During the same quarter last year, the company posted $1.00 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. On average, analysts predict that Wingstop Inc. will post 4.45 EPS for the current year.

Hedge Funds Weigh In On Wingstop

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Wingstop during the second quarter valued at $481,314,000. Jupiter Topco LLC purchased a new stake in Wingstop in the second quarter worth about $147,440,000. Bank of New York Mellon Corp bought a new position in shares of Wingstop in the second quarter worth about $80,456,000. Bamco Inc. NY bought a new position in shares of Wingstop in the second quarter worth about $74,595,000. Finally, Wellington Management Group LLP lifted its position in shares of Wingstop by 681.6% during the 2nd quarter. Wellington Management Group LLP now owns 374,483 shares of the restaurant operator’s stock valued at $64,939,000 after buying an additional 326,568 shares in the last quarter.

About Wingstop

Wingstop Inc is a franchised restaurant company specializing in cooked-to-order chicken wings and related menu items. Its offerings include classic and boneless wings prepared with a range of flavors, along with chicken sandwiches, tenders, fries, seasoned fries, dips, sides and beverages. The company emphasizes made-to-order food, a digital ordering experience and a menu centered on customizable chicken meals.

Founded in 1994 in Garland, Texas, Wingstop has expanded from a single restaurant into a global brand operated primarily through franchised locations.