Wall Street Zen Upgrades Wingstop (NASDAQ:WING) to “Hold”

Wingstop (NASDAQ:WING) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other research analysts also recently weighed in on the company. Royal Bank Of Canada cut their price target on Wingstop from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. BTIG Research reiterated a “buy” rating and set a $400.00 target price on shares of Wingstop in a research report on Thursday, February 19th. Stephens reiterated an “overweight” rating and issued a $375.00 price objective on shares of Wingstop in a research note on Thursday, February 19th. Truist Financial set a $374.00 price target on Wingstop and gave the stock a “buy” rating in a report on Wednesday, February 18th. Finally, Mizuho reduced their price target on Wingstop from $320.00 to $310.00 and set an “outperform” rating for the company in a research report on Friday, January 9th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $337.29.

Wingstop Stock Performance

Shares of WING stock opened at $187.79 on Friday. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 2.05 and a beta of 1.82. Wingstop has a 52-week low of $184.00 and a 52-week high of $388.14. The company has a 50-day simple moving average of $248.67 and a two-hundred day simple moving average of $251.49.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.16. The company had revenue of $175.69 million during the quarter, compared to analyst estimates of $177.74 million. Wingstop had a negative return on equity of 16.12% and a net margin of 25.01%.Wingstop’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. On average, sell-side analysts forecast that Wingstop will post 4.18 EPS for the current fiscal year.

Insider Activity

In other news, Director Wesley S. Mcdonald sold 566 shares of Wingstop stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $250.00, for a total transaction of $141,500.00. Following the completion of the sale, the director owned 4,375 shares in the company, valued at approximately $1,093,750. This trade represents a 11.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kilandigalu Madati sold 2,700 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $260.73, for a total value of $703,971.00. Following the transaction, the director directly owned 2,583 shares of the company’s stock, valued at $673,465.59. The trade was a 51.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Wingstop

Several hedge funds have recently bought and sold shares of the stock. Lone Pine Capital LLC bought a new position in shares of Wingstop in the 3rd quarter worth $375,317,000. Steadfast Capital Management LP lifted its holdings in shares of Wingstop by 296.2% during the 3rd quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock worth $239,227,000 after acquiring an additional 710,621 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Wingstop by 48.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,405,894 shares of the restaurant operator’s stock worth $335,292,000 after acquiring an additional 456,861 shares in the last quarter. Capital World Investors grew its position in Wingstop by 160.6% in the third quarter. Capital World Investors now owns 740,896 shares of the restaurant operator’s stock worth $186,469,000 after acquiring an additional 456,637 shares in the last quarter. Finally, Atreides Management LP bought a new position in Wingstop in the fourth quarter valued at $93,012,000.

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.