Wingstop Inc. (NASDAQ:WING) – SunTrust Banks increased their Q3 2016 earnings per share estimates for Wingstop in a report released on Wednesday. SunTrust Banks analyst J. Bartlett now anticipates that the brokerage will post earnings per share of $0.12 for the quarter, up from their prior estimate of $0.10. SunTrust Banks also issued estimates for Wingstop’s Q4 2016 earnings at $0.15 EPS.
Wingstop (NASDAQ:WING) last released its earnings results on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $22.70 million for the quarter, compared to analysts’ expectations of $22.05 million. Wingstop had a net margin of 18.15% and a negative return on equity of 218.88%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 earnings per share.
Several other equities research analysts have also recently commented on WING. Jefferies Group reaffirmed a “buy” rating and issued a $30.00 target price on shares of Wingstop in a research report on Monday, August 8th. Zacks Investment Research cut shares of Wingstop from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. KeyCorp initiated coverage on shares of Wingstop in a research report on Wednesday, September 7th. They set an “overweight” rating and a $36.00 price target for the company. Wedbush reissued an “outperform” rating and set a $36.00 price target (up from $35.00) on shares of Wingstop in a research report on Monday, August 29th. Finally, Robert W. Baird lifted their price target on shares of Wingstop from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, September 7th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.27.
Wingstop (NASDAQ:WING) opened at 28.935 on Monday. The stock has a market capitalization of $831.24 million, a PE ratio of 55.114 and a beta of 0.63. The firm has a 50-day moving average of $29.39 and a 200-day moving average of $27.54. Wingstop has a 1-year low of $20.31 and a 1-year high of $33.10.
In other Wingstop news, Director Neal K. Aronson sold 6,000,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $28.50, for a total transaction of $171,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Vernon sold 6,540 shares of the firm’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $28.70, for a total transaction of $187,698.00. Following the sale, the insider now owns 80,349 shares of the company’s stock, valued at $2,306,016.30. The disclosure for this sale can be found here. Company insiders own 45.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in WING. Wellington Management Group LLP raised its stake in shares of Wingstop by 59.4% in the first quarter. Wellington Management Group LLP now owns 1,968,024 shares of the company’s stock worth $44,635,000 after buying an additional 733,201 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Wingstop during the first quarter worth approximately $13,551,000. Jennison Associates LLC bought a new stake in shares of Wingstop during the second quarter worth approximately $15,828,000. Waddell & Reed Financial Inc. bought a new stake in shares of Wingstop during the second quarter worth approximately $7,737,000. Finally, BlackRock Fund Advisors raised its stake in shares of Wingstop by 133.1% in the second quarter. BlackRock Fund Advisors now owns 372,021 shares of the company’s stock worth $10,138,000 after buying an additional 212,444 shares in the last quarter. Hedge funds and other institutional investors own 58.93% of the company’s stock.
Wingstop Inc is a franchisor and operator of restaurants that specialize in cooked-to-order, hand-sauced and tossed chicken wings. The Company offers its guests with over 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides. It is a casual chicken wings-focused restaurant chain with various concepts, which include wings as add-on menu items or focus on wings in a bar or sports-centric setting.
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