Wingstop Inc. (NASDAQ:WING) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Wingstop Inc. (NASDAQ:WING) from a hold rating to a sell rating in a research report sent to investors on Wednesday, October 18th.

According to Zacks, “Wingstop Inc. franchises and operates restaurants. The Company’s operating segment consists of Franchise segment and Company segment. It offers cooked-to-order, hand-sauced and tossed chicken wings. Wingstop Inc. is headquartered in Dallas, Texas. “

Other research analysts have also issued reports about the company. Cowen and Company reaffirmed an outperform rating and set a $37.00 target price on shares of Wingstop in a research report on Wednesday, August 9th. Stifel Nicolaus began coverage on Wingstop in a research report on Monday, October 2nd. They set a hold rating and a $35.00 target price for the company. BidaskClub raised Wingstop from a hold rating to a buy rating in a research report on Tuesday, August 22nd. Wedbush reaffirmed a buy rating and set a $36.00 target price on shares of Wingstop in a research report on Thursday, July 6th. Finally, Barclays PLC reissued an equal weight rating and issued a $34.00 price objective (up from $32.00) on shares of Wingstop in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $34.89.

Wingstop (NASDAQ:WING) traded up 0.870% during midday trading on Wednesday, hitting $33.025. The stock had a trading volume of 53,230 shares. The company’s 50-day moving average price is $33.16 and its 200 day moving average price is $31.45. Wingstop has a 52 week low of $24.74 and a 52 week high of $35.91. The company has a market capitalization of $960.10 million, a PE ratio of 51.521 and a beta of 0.58.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Thursday, August 3rd. The restaurant operator reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.03. Wingstop had a negative return on equity of 28.04% and a net margin of 19.28%. The company had revenue of $24.70 million for the quarter, compared to the consensus estimate of $24.61 million. During the same quarter last year, the business posted $0.15 EPS. On average, analysts expect that Wingstop will post $0.72 EPS for the current year.

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In other Wingstop news, Chairman Charles R. Morrison sold 25,000 shares of Wingstop stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $34.71, for a total transaction of $867,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stacy Peterson sold 11,557 shares of Wingstop stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $34.60, for a total value of $399,872.20. The disclosure for this sale can be found here. Insiders sold a total of 47,083 shares of company stock valued at $1,622,033 over the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fortaleza Asset Management Inc. purchased a new position in shares of Wingstop in the 2nd quarter worth approximately $108,000. Riverhead Capital Management LLC boosted its stake in shares of Wingstop by 66.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,496 shares of the restaurant operator’s stock worth $108,000 after buying an additional 1,396 shares during the last quarter. Pinebridge Investments L.P. boosted its stake in shares of Wingstop by 1.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,818 shares of the restaurant operator’s stock worth $118,000 after buying an additional 52 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Wingstop by 16.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,767 shares of the restaurant operator’s stock worth $163,000 after buying an additional 804 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Wingstop by 79.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,720 shares of the restaurant operator’s stock worth $176,000 after buying an additional 2,530 shares during the last quarter.

About Wingstop

Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company. As of December 31, 2016, the Company offers its guests 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides.

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