Wingstop (NASDAQ:WING) Stock Price Target Cut by Citigroup

Wingstop (NASDAQ:WING) had its price objective cut by analysts at Citigroup from $208.00 to $191.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Citigroup’s price target would suggest a potential upside of 45.00% from the company’s previous close.

Several other equities analysts have also commented on WING. Morgan Stanley lowered their price objective on shares of Wingstop from $238.00 to $202.00 and set an “overweight” rating for the company in a research report on Thursday. Weiss Ratings lowered Wingstop from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Mizuho reduced their price objective on Wingstop from $280.00 to $240.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Bank of America reduced their price objective on Wingstop from $264.00 to $234.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded Wingstop from a “sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $233.74.

Wingstop Trading Up 0.5%

NASDAQ WING traded up $0.69 on Friday, reaching $131.72. 1,456,171 shares of the stock were exchanged, compared to its average volume of 1,185,275. Wingstop has a one year low of $95.82 and a one year high of $302.80. The firm has a market capitalization of $3.59 billion, a PE ratio of 31.29, a PEG ratio of 1.48 and a beta of 1.81. The company’s 50-day simple moving average is $111.82 and its two-hundred day simple moving average is $139.01.

Wingstop (NASDAQ:WING) last released 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 firm had revenue of $185.56 million during the quarter, compared to analysts’ expectations of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $1.00 earnings per share. Sell-side analysts forecast that Wingstop will post 4.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wingstop

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. B.A. Schrock Wealth Management Inc. purchased a new position in Wingstop during the third quarter valued at approximately $4,685,000. Copeland Capital Management LLC boosted its position in Wingstop by 44.8% in the 3rd quarter. Copeland Capital Management LLC now owns 357,775 shares of the restaurant operator’s stock worth $37,699,000 after purchasing an additional 110,667 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Wingstop by 70.9% during the 3rd quarter. GAMMA Investing LLC now owns 653 shares of the restaurant operator’s stock worth $69,000 after purchasing an additional 271 shares during the period. Titleist Asset Management LLC acquired a new stake in shares of Wingstop during the 3rd quarter worth approximately $918,000. Finally, State Street Corp increased its holdings in shares of Wingstop by 2.0% during the 2nd quarter. State Street Corp now owns 863,951 shares of the restaurant operator’s stock valued at $149,751,000 after purchasing an additional 16,907 shares in the last quarter.

Wingstop Company Profile

Wingstop Inc is a restaurant company that specializes in made-to-order chicken wings and related menu items. Its offerings include classic and boneless wings prepared with a variety of signature flavors, as well as chicken sandwiches, tenders, seasoned fries, sides, dips and beverages. The company serves customers through dine-in, takeout, delivery and digital ordering channels.

Founded in 1994 in Garland, Texas, Wingstop has developed primarily as a franchised restaurant brand. The company supports its franchisees through brand marketing, restaurant development, operating systems, menu innovation and supply-chain coordination, while franchisees generally own and operate individual locations.