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


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Wingstop (NASDAQ:WING) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, 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. “

A number of other analysts have also recently commented on the stock. Wells Fargo & Company upped their target price on shares of Wingstop from $172.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, April 1st. They noted that the move was a valuation call. Stifel Nicolaus increased their price objective on shares of Wingstop from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, February 17th. The Goldman Sachs Group reduced their price objective on shares of Wingstop from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, March 31st. Royal Bank of Canada began coverage on shares of Wingstop in a research note on Thursday. They issued a “sector perform” rating and a $140.00 price objective for the company. Finally, Piper Sandler reduced their price objective on shares of Wingstop from $187.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, March 24th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $157.75.

Shares of WING stock opened at $137.56 on Thursday. Wingstop has a 12 month low of $92.29 and a 12 month high of $172.87. The stock has a market cap of $4.08 billion, a P/E ratio of 143.29, a P/E/G ratio of 8.49 and a beta of 1.06. The company has a 50 day simple moving average of $131.14 and a two-hundred day simple moving average of $135.96.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, February 17th. The restaurant operator reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.05). Wingstop had a net margin of 12.73% and a negative return on equity of 14.61%. On average, sell-side analysts predict that Wingstop will post 1.26 earnings per share for the current year.

In other Wingstop news, CFO Michael Skipworth sold 508 shares of the stock in a transaction on Monday, March 8th. The shares were sold at an average price of $120.50, for a total transaction of $61,214.00. Following the completion of the transaction, the chief financial officer now owns 18,026 shares in the company, valued at $2,172,133. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles R. Morrison sold 997 shares of the stock in a transaction on Monday, March 8th. The shares were sold at an average price of $120.50, for a total transaction of $120,138.50. Following the transaction, the chief executive officer now owns 95,149 shares of the company’s stock, valued at approximately $11,465,454.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,868 shares of company stock valued at $224,807. 1.00% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Wingstop by 0.4% during the fourth quarter. BlackRock Inc. now owns 3,448,923 shares of the restaurant operator’s stock valued at $457,154,000 after purchasing an additional 12,226 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Wingstop by 9.9% in the 4th quarter. Alliancebernstein L.P. now owns 626,153 shares of the restaurant operator’s stock worth $82,997,000 after acquiring an additional 56,529 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Wingstop by 14.5% in the 4th quarter. Lord Abbett & CO. LLC now owns 445,541 shares of the restaurant operator’s stock worth $59,056,000 after acquiring an additional 56,436 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Wingstop by 38.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 437,974 shares of the restaurant operator’s stock worth $58,053,000 after acquiring an additional 122,450 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Wingstop in the 4th quarter worth about $38,435,000.

Wingstop Company Profile

Wingstop, Inc is a franchisor and operator of restaurants, which engages in the provision of cooked-to-order, hand-sauced, and tossed chicken wings. It operates through Franchise and Company segments. The Franchise segment consists of domestic and international franchise restaurants. The Company segment comprises company-owned restaurants.

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