Cowen and Company Reaffirms “Outperform” Rating for Wingstop Inc. (WING)
Wingstop Inc. (NASDAQ:WING)‘s stock had its “outperform” rating reissued by research analysts at Cowen and Company in a research report issued to clients and investors on Monday. They currently have a $36.00 price target on the restaurant operator’s stock. Cowen and Company’s target price would suggest a potential upside of 14.91% from the stock’s current price.
WING has been the topic of a number of other research reports. Wells Fargo & Company reaffirmed an “outperform” rating and set a $33.00 target price on shares of Wingstop in a report on Wednesday, March 1st. Zacks Investment Research raised Wingstop from a “hold” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a report on Wednesday, May 3rd. Wedbush reaffirmed an “outperform” rating and set a $36.00 target price on shares of Wingstop in a report on Friday, April 7th. Stephens raised Wingstop from an “equal weight” rating to an “overweight” rating and set a $32.00 target price on the stock in a report on Monday, April 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $28.00 price target on shares of Wingstop in a research report on Wednesday, April 12th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Wingstop presently has an average rating of “Buy” and an average target price of $34.55.
Shares of Wingstop (NASDAQ WING) traded up 1.26% during mid-day trading on Monday, hitting $31.33. The company’s stock had a trading volume of 564,610 shares. The stock has a 50-day moving average of $30.04 and a 200-day moving average of $28.91. Wingstop has a 12-month low of $24.74 and a 12-month high of $33.42. The company has a market cap of $907.85 million, a PE ratio of 52.13 and a beta of 0.63.
Wingstop (NASDAQ:WING) last released its earnings results on Thursday, May 4th. The restaurant operator reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. Wingstop had a negative return on equity of 33.91% and a net margin of 18.44%. The company had revenue of $26.57 million for the quarter, compared to the consensus estimate of $24.22 million. During the same quarter last year, the business posted $0.15 EPS. Wingstop’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts forecast that Wingstop will post $0.70 EPS for the current year.
In other news, CFO Michael Mravle sold 34,605 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $30.82, for a total transaction of $1,066,526.10. Following the sale, the chief financial officer now directly owns 75,400 shares in the company, valued at approximately $2,323,828. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Flynn Dekker sold 4,102 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $30.59, for a total value of $125,480.18. Following the sale, the insider now owns 44,014 shares in the company, valued at $1,346,388.26. The disclosure for this sale can be found here. Insiders have sold a total of 80,510 shares of company stock worth $2,448,937 over the last quarter. Insiders own 1.76% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. LS Investment Advisors LLC boosted its stake in shares of Wingstop by 291.0% in the first quarter. LS Investment Advisors LLC now owns 4,321 shares of the restaurant operator’s stock worth $122,000 after buying an additional 3,216 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Wingstop by 16.2% in the first 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. Mason Street Advisors LLC boosted its stake in shares of Wingstop by 7.4% in the first quarter. Mason Street Advisors LLC now owns 6,750 shares of the restaurant operator’s stock worth $191,000 after buying an additional 468 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Wingstop during the first quarter worth $202,000. Finally, AQR Capital Management LLC bought a new stake in shares of Wingstop during the fourth quarter worth $231,000. Institutional investors and hedge funds own 85.71% of the company’s stock.
Wingstop Company Profile
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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