Benchmark Lowers Wingstop (NASDAQ:WING) Price Target to $320.00

Wingstop (NASDAQ:WING) had its target price lowered by analysts at Benchmark from $340.00 to $320.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Benchmark’s target price points to a potential upside of 30.83% from the company’s previous close.

A number of other brokerages also recently commented on WING. Morgan Stanley restated an “overweight” rating and set a $363.00 target price on shares of Wingstop in a report on Tuesday. Northcoast Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Wednesday. Barclays decreased their price target on shares of Wingstop from $330.00 to $295.00 and set an “overweight” rating for the company in a research note on Wednesday. Stifel Nicolaus dropped their price objective on shares of Wingstop from $375.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, Zacks Research cut shares of Wingstop from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Five research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $335.96.

Wingstop Stock Performance

WING stock opened at $244.60 on Wednesday. The firm’s fifty day moving average is $261.79 and its 200 day moving average is $300.35. Wingstop has a 52 week low of $204.00 and a 52 week high of $388.14. The firm has a market cap of $6.80 billion, a P/E ratio of 39.84, a P/E/G ratio of 3.52 and a beta of 1.73.

Wingstop (NASDAQ:WING) last released its earnings results on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.18. Wingstop had a negative return on equity of 16.17% and a net margin of 25.51%.The company had revenue of $175.74 million during the quarter, compared to analyst estimates of $189.10 million. During the same quarter in the previous year, the company posted $0.88 EPS. Wingstop’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, analysts forecast that Wingstop will post 4.18 EPS for the current year.

Institutional Investors Weigh In On Wingstop

Hedge funds and other institutional investors have recently made changes to their positions in the business. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Wingstop by 54.3% in the third quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock worth $36,000 after buying an additional 50 shares during the last quarter. Wesbanco Bank Inc. boosted its stake in shares of Wingstop by 61.2% during the 3rd quarter. Wesbanco Bank Inc. now owns 7,900 shares of the restaurant operator’s stock worth $1,988,000 after acquiring an additional 3,000 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Wingstop by 7.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,668 shares of the restaurant operator’s stock valued at $2,685,000 after acquiring an additional 746 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Wingstop by 75.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 204 shares of the restaurant operator’s stock worth $51,000 after purchasing an additional 88 shares in the last quarter. Finally, Ranger Investment Management L.P. increased its stake in shares of Wingstop by 33.9% in the 3rd quarter. Ranger Investment Management L.P. now owns 82,755 shares of the restaurant operator’s stock worth $20,828,000 after purchasing an additional 20,930 shares in the last quarter.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.