Wingstop (NASDAQ:WING) Stock Rating Upgraded by Robert W. Baird

Wingstop (NASDAQ:WING) was upgraded by research analysts at Robert W. Baird to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also recently issued reports on WING. Benchmark cut their price objective on shares of Wingstop from $285.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Barclays decreased their target price on Wingstop from $330.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. BTIG Research dropped their price target on Wingstop from $305.00 to $265.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Royal Bank Of Canada cut their price target on Wingstop from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Finally, Piper Sandler set a $173.00 price objective on Wingstop in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $241.81.

Wingstop Stock Down 2.6%

NASDAQ:WING opened at $113.85 on Monday. The company has a fifty day moving average of $140.81 and a 200-day moving average of $169.05. The firm has a market capitalization of $3.10 billion, a P/E ratio of 27.04, a P/E/G ratio of 1.39 and a beta of 1.81. Wingstop has a twelve month low of $110.44 and a twelve month high of $342.10.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.16. The business had revenue of $185.56 million for the quarter, compared to analyst estimates of $190.25 million. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. Wingstop’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. On average, analysts anticipate that Wingstop will post 4.5 EPS for the current fiscal year.

Institutional Trading of Wingstop

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WING. California State Teachers Retirement System raised its stake in shares of Wingstop by 16,825.6% in the second quarter. California State Teachers Retirement System now owns 5,475,941 shares of the restaurant operator’s stock worth $949,583,000 after purchasing an additional 5,443,588 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Wingstop during the second quarter valued at approximately $481,314,000. Price T Rowe Associates Inc. MD boosted its position in shares of Wingstop by 2.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,111,089 shares of the restaurant operator’s stock valued at $503,475,000 after buying an additional 58,386 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Wingstop by 6.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,173,613 shares of the restaurant operator’s stock worth $279,895,000 after buying an additional 70,224 shares in the last quarter. Finally, Steadfast Capital Management LP grew its holdings in Wingstop by 296.2% during the third quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock worth $239,227,000 after buying an additional 710,621 shares in the last quarter.

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.