Wingstop (NASDAQ:WING) Hits New 52-Week Low – Here’s What Happened

Wingstop Inc. (NASDAQ:WING) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $99.90 and last traded at $98.6520, with a volume of 94802 shares trading hands. The stock had previously closed at $102.38.

Wall Street Analyst Weigh In

Several research firms have weighed in on WING. Wells Fargo & Company dropped their price target on Wingstop from $170.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Raymond James Financial reiterated a “strong-buy” rating and set a $185.00 price objective (down from $240.00) on shares of Wingstop in a research report on Friday, September 18th. UBS Group restated a “neutral” rating on shares of Wingstop in a research report on Tuesday, July 14th. Piper Sandler set a $173.00 target price on shares of Wingstop in a research report on Wednesday, July 29th. Finally, Citigroup reaffirmed a “buy” rating on shares of Wingstop in a research note on Thursday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $236.44.

Wingstop Price Performance

The firm has a market cap of $2.72 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 1.28 and a beta of 1.79. The company’s 50-day simple moving average is $119.36 and its 200 day simple moving average is $148.89.

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

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, September 5th. Investors of record on Saturday, August 15th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, August 14th. This is a boost from Wingstop’s previous quarterly dividend of $0.30. Wingstop’s payout ratio is currently 31.35%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Wingstop in the second quarter worth about $481,314,000. Jupiter Topco LLC purchased a new stake in shares of Wingstop during the 2nd quarter worth $147,440,000. Bank of New York Mellon Corp purchased a new position in Wingstop in the second quarter valued at about $80,456,000. Bamco Inc. NY purchased a new position in Wingstop in the second quarter valued at about $74,595,000. Finally, Atreides Management LP bought a new position in Wingstop in the fourth quarter worth about $93,012,000.

About Wingstop

Wingstop Inc is a fast-casual restaurant company specializing in cooked-to-order chicken wings and tenders. Its menu also includes fries, seasoned fries, dipping sauces, and beverages, with offerings built around a range of signature flavors and sauces. The company primarily operates through a franchise-based model.

Wingstop was founded in 1994 in Garland, Texas, and has expanded from its original location into a global restaurant brand. Its restaurants serve customers across the United States and in international markets through a network of franchised and company-operated locations.

Wingstop became a publicly traded company in 2015.