Wingstop (NASDAQ:WING – Get Rating) was downgraded by research analysts at Truist Financial from a “buy” rating to a “hold” rating in a report issued on Thursday, The Fly reports. They presently have a $125.00 target price on the restaurant operator’s stock, down from their prior target price of $145.00. Truist Financial’s price target suggests a potential upside of 1.57% from the company’s previous close.
A number of other research firms have also recently weighed in on WING. Deutsche Bank Aktiengesellschaft upped their price target on Wingstop from $117.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, October 11th. Robert W. Baird increased their target price on Wingstop from $120.00 to $150.00 in a report on Friday, July 29th. Citigroup increased their target price on Wingstop to $150.00 in a report on Thursday, October 13th. Wedbush increased their target price on Wingstop from $135.00 to $157.00 and gave the company an “outperform” rating in a report on Monday, September 12th. Finally, Stephens assumed coverage on Wingstop in a report on Thursday, September 22nd. They set an “overweight” rating and a $148.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $140.29.
Wingstop Trading Down 1.3 %
NASDAQ WING opened at $123.07 on Thursday. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 91.84, a PEG ratio of 7.07 and a beta of 1.56. Wingstop has a twelve month low of $67.67 and a twelve month high of $178.68. The stock has a 50-day moving average of $128.35 and a 200 day moving average of $105.08.
Wingstop (NASDAQ:WING – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The restaurant operator reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.10. The company had revenue of $83.78 million during the quarter, compared to analysts’ expectations of $86.11 million. Wingstop had a negative return on equity of 10.82% and a net margin of 13.49%. Wingstop’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. Equities analysts predict that Wingstop will post 1.57 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in WING. Castle Wealth Management LLC purchased a new position in Wingstop in the second quarter worth approximately $45,000. Lindbrook Capital LLC grew its position in Wingstop by 12.9% in the second quarter. Lindbrook Capital LLC now owns 807 shares of the restaurant operator’s stock worth $60,000 after acquiring an additional 92 shares during the period. First Horizon Advisors Inc. grew its position in Wingstop by 3,766.7% in the second quarter. First Horizon Advisors Inc. now owns 812 shares of the restaurant operator’s stock worth $60,000 after acquiring an additional 791 shares during the period. Fifth Third Bancorp grew its position in Wingstop by 11.9% in the second quarter. Fifth Third Bancorp now owns 838 shares of the restaurant operator’s stock worth $63,000 after acquiring an additional 89 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in Wingstop in the second quarter worth approximately $130,000.
About Wingstop
Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide.