Wingstop (NASDAQ:WING) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Wingstop (NASDAQ:WING) from a buy rating to a hold rating in a report published on Saturday morning, Zacks.com reports.

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. “

WING has been the topic of several other research reports. Piper Jaffray Companies boosted their price target on Wingstop from $88.00 to $108.00 and gave the stock an overweight rating in a research report on Monday, July 15th. Goldman Sachs Group initiated coverage on Wingstop in a research report on Monday, July 29th. They set a buy rating and a $135.00 price target on the stock. Stifel Nicolaus boosted their price target on Wingstop from $92.00 to $100.00 and gave the stock a buy rating in a research report on Friday. BMO Capital Markets reaffirmed an outperform rating and set a $108.00 price target (up previously from $84.00) on shares of Wingstop in a research report on Monday, June 24th. Finally, Wells Fargo & Co boosted their price target on Wingstop from $85.00 to $111.00 and gave the stock an outperform rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $89.93.

Shares of NASDAQ:WING traded up $3.94 during trading on Friday, hitting $92.56. 852,765 shares of the company were exchanged, compared to its average volume of 434,633. The stock has a market capitalization of $2.61 billion, a PE ratio of 110.19, a price-to-earnings-growth ratio of 6.21 and a beta of 0.85. Wingstop has a fifty-two week low of $55.00 and a fifty-two week high of $99.76. The firm has a fifty day simple moving average of $94.32.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Thursday, August 1st. The restaurant operator reported $0.17 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The firm had revenue of $48.56 million for the quarter, compared to analyst estimates of $47.53 million. Wingstop had a negative return on equity of 11.09% and a net margin of 11.54%. The business’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 EPS. On average, equities research analysts predict that Wingstop will post 0.73 EPS for the current fiscal year.

In other Wingstop news, Director Michael J. Hislop sold 5,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $89.05, for a total value of $445,250.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Charles R. Morrison sold 20,009 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $78.10, for a total value of $1,562,702.90. Following the completion of the transaction, the chief executive officer now directly owns 123,007 shares in the company, valued at $9,606,846.70. The disclosure for this sale can be found here. Insiders have sold a total of 29,678 shares of company stock worth $2,374,961 over the last three months. 1.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Federated Investors Inc. PA grew its holdings in Wingstop by 2.0% in the 1st quarter. Federated Investors Inc. PA now owns 886,164 shares of the restaurant operator’s stock valued at $67,375,000 after buying an additional 17,076 shares in the last quarter. FMR LLC lifted its position in shares of Wingstop by 1.6% during the 1st quarter. FMR LLC now owns 755,476 shares of the restaurant operator’s stock valued at $57,439,000 after acquiring an additional 12,049 shares during the period. Wells Fargo & Company MN lifted its position in shares of Wingstop by 44.3% during the 1st quarter. Wells Fargo & Company MN now owns 542,169 shares of the restaurant operator’s stock valued at $41,221,000 after acquiring an additional 166,571 shares during the period. OppenheimerFunds Inc. lifted its position in shares of Wingstop by 9.5% during the 1st quarter. OppenheimerFunds Inc. now owns 517,626 shares of the restaurant operator’s stock valued at $39,355,000 after acquiring an additional 44,742 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Wingstop by 8.5% during the 4th quarter. Geode Capital Management LLC now owns 356,526 shares of the restaurant operator’s stock valued at $22,885,000 after acquiring an additional 27,837 shares during the period.

Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.

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