Wingstop Inc. (WING) Lowered to “Sell” at Zacks Investment Research
Zacks Investment Research downgraded shares of Wingstop Inc. (NASDAQ:WING) from a hold rating to a sell rating in a report released on Wednesday morning.
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 equities research analysts have also recently commented on WING. Cowen and Company restated an outperform rating and set a $37.00 target price on shares of Wingstop in a research report on Wednesday, August 9th. BidaskClub raised shares of Wingstop from a sell rating to a hold rating in a research note on Wednesday, August 9th. Wedbush raised their price target on shares of Wingstop from $35.00 to $36.00 and gave the company an outperform rating in a research note on Friday, August 4th. Jefferies Group LLC reaffirmed a hold rating and issued a $28.00 price target on shares of Wingstop in a research note on Thursday, October 12th. Finally, Longbow Research started coverage on shares of Wingstop in a research note on Friday, October 13th. They issued a neutral rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Wingstop presently has a consensus rating of Buy and a consensus target price of $34.89.
Shares of Wingstop (WING) traded up 1.19% during trading on Wednesday, hitting $33.15. The stock had a trading volume of 184,883 shares. The firm has a market cap of $963.74 million, a P/E ratio of 51.72 and a beta of 0.58. The firm has a 50 day moving average price of $33.20 and a 200 day moving average price of $31.28. Wingstop has a 12-month low of $24.74 and a 12-month high of $35.91.
Wingstop (NASDAQ:WING) last posted its earnings results on Thursday, August 3rd. The restaurant operator reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.03. Wingstop had a negative return on equity of 28.04% and a net margin of 19.28%. The firm had revenue of $24.70 million for the quarter, compared to analysts’ expectations of $24.61 million. During the same period last year, the firm earned $0.15 EPS. On average, equities analysts expect that Wingstop will post $0.72 earnings per share for the current fiscal year.
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In other Wingstop news, Chairman Charles R. Morrison sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $34.71, for a total value of $867,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lawrence Kruguer sold 10,526 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $33.67, for a total transaction of $354,410.42. Following the completion of the transaction, the insider now directly owns 22,116 shares in the company, valued at $744,645.72. The disclosure for this sale can be found here. Insiders sold a total of 47,083 shares of company stock worth $1,622,033 over the last three months. Corporate insiders own 1.76% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pier Capital LLC purchased a new position in Wingstop in the 2nd quarter worth approximately $7,703,000. Goldman Sachs Group Inc. lifted its stake in Wingstop by 56.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,453,769 shares of the restaurant operator’s stock worth $44,921,000 after purchasing an additional 523,811 shares in the last quarter. BlackRock Inc. lifted its stake in Wingstop by 200,013.0% in the 1st quarter. BlackRock Inc. now owns 3,473,961 shares of the restaurant operator’s stock worth $98,242,000 after purchasing an additional 3,472,225 shares in the last quarter. Cadence Capital Management LLC lifted its stake in Wingstop by 85.2% in the 2nd quarter. Cadence Capital Management LLC now owns 18,300 shares of the restaurant operator’s stock worth $565,000 after purchasing an additional 8,420 shares in the last quarter. Finally, Timpani Capital Management LLC purchased a new position in Wingstop in the 2nd quarter worth approximately $2,084,000.
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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