BTIG Research Cuts Wingstop (NASDAQ:WING) Price Target to $400.00

Wingstop (NASDAQ:WING) had its price objective cut by equities research analysts at BTIG Research from $430.00 to $400.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. BTIG Research’s price objective suggests a potential upside of 68.55% from the company’s previous close.

Several other equities analysts have also weighed in on WING. Barclays set a $295.00 target price on shares of Wingstop in a report on Wednesday. Raymond James Financial reissued a “strong-buy” rating and issued a $350.00 price target (down previously from $420.00) on shares of Wingstop in a report on Thursday, October 16th. Wells Fargo & Company cut their price target on shares of Wingstop from $415.00 to $365.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Wolfe Research assumed coverage on shares of Wingstop in a report on Wednesday, July 9th. They issued an “outperform” rating and a $280.00 price target for the company. Finally, UBS Group reissued a “neutral” rating and issued a $295.00 price target on shares of Wingstop in a report on Tuesday, October 28th. Five analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $343.74.

Wingstop Price Performance

NASDAQ:WING opened at $237.32 on Wednesday. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 39.55, a price-to-earnings-growth ratio of 2.99 and a beta of 1.73. The company has a 50 day moving average price of $265.40 and a 200-day moving average price of $301.08. Wingstop has a 1-year low of $204.00 and a 1-year high of $388.14.

Wingstop (NASDAQ:WING) last posted its earnings results on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.18. The firm had revenue of $175.74 million during the quarter, compared to analyst estimates of $189.10 million. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. On average, sell-side analysts anticipate that Wingstop will post 4.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WING. Cornerstone Planning Group LLC boosted its position in shares of Wingstop by 1,650.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 99 shares during the last quarter. Signaturefd LLC lifted its position in Wingstop by 106.9% in the first quarter. Signaturefd LLC now owns 149 shares of the restaurant operator’s stock valued at $34,000 after buying an additional 77 shares during the last quarter. Quaker Wealth Management LLC lifted its position in Wingstop by 134.2% in the second quarter. Quaker Wealth Management LLC now owns 104 shares of the restaurant operator’s stock valued at $35,000 after buying an additional 408 shares during the last quarter. Ameriflex Group Inc. acquired a new position in Wingstop in the second quarter valued at about $43,000. Finally, Hantz Financial Services Inc. lifted its position in Wingstop by 4,200.0% in the second quarter. Hantz Financial Services Inc. now owns 129 shares of the restaurant operator’s stock valued at $43,000 after buying an additional 126 shares during the last quarter.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.