Zacks Investment Research Upgrades Wingstop (WING) to Hold
Wingstop (NASDAQ:WING) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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. “
Other analysts also recently issued reports about the company. SunTrust Banks restated a “buy” rating and set a $50.00 price objective on shares of Wingstop in a research report on Wednesday, January 3rd. Robert W. Baird restated a “buy” rating and set a $49.00 price objective on shares of Wingstop in a research report on Wednesday, January 3rd. Goldman Sachs restated a “buy” rating and set a $41.00 price objective on shares of Wingstop in a research report on Wednesday, November 29th. Cowen restated a “buy” rating and set a $41.00 price objective on shares of Wingstop in a research report on Friday, November 24th. Finally, BidaskClub upgraded Wingstop from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $45.42.
Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Thursday, February 22nd. The restaurant operator reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. Wingstop had a negative return on equity of 37.25% and a net margin of 25.87%. The business had revenue of $28.29 million during the quarter, compared to the consensus estimate of $27.49 million. During the same period in the prior year, the company earned $0.15 EPS. Wingstop’s revenue for the quarter was up 14.1% on a year-over-year basis. analysts predict that Wingstop will post 0.76 earnings per share for the current year.
In other Wingstop news, insider Flynn Dekker sold 10,000 shares of the stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $45.60, for a total value of $456,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Hislop sold 5,000 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $48.30, for a total value of $241,500.00. The disclosure for this sale can be found here. Insiders sold 17,770 shares of company stock valued at $827,718 over the last quarter. Corporate insiders own 1.76% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Sei Investments Co. bought a new position in Wingstop in the third quarter valued at about $495,000. ETRADE Capital Management LLC bought a new position in shares of Wingstop during the third quarter worth about $360,000. American Century Companies Inc. bought a new position in shares of Wingstop during the fourth quarter worth about $2,389,000. Engineers Gate Manager LP raised its position in shares of Wingstop by 38.0% during the fourth quarter. Engineers Gate Manager LP now owns 60,315 shares of the restaurant operator’s stock worth $2,351,000 after acquiring an additional 16,606 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Wingstop by 68.0% during the third quarter. BNP Paribas Arbitrage SA now owns 15,084 shares of the restaurant operator’s stock worth $502,000 after acquiring an additional 6,105 shares during the last quarter.
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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