TD Cowen Cuts Wingstop (NASDAQ:WING) Price Target to $280.00

Wingstop (NASDAQ:WING) had its price objective trimmed by TD Cowen from $320.00 to $280.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

WING has been the subject of several other reports. The Goldman Sachs Group reduced their price target on Wingstop from $430.00 to $370.00 and set a “buy” rating for the company in a report on Tuesday, September 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Wingstop in a research report on Thursday, October 30th. Bank of America reduced their price objective on shares of Wingstop from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Zacks Research downgraded shares of Wingstop from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, BTIG Research reduced their price target on shares of Wingstop from $430.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Wingstop presently has an average rating of “Moderate Buy” and an average target price of $335.96.

Wingstop Stock Performance

WING stock opened at $238.18 on Wednesday. The firm has a 50 day moving average price of $259.99 and a 200-day moving average price of $300.54. Wingstop has a 52-week low of $204.00 and a 52-week high of $388.14. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 38.79, a PEG ratio of 3.36 and a beta of 1.73.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.18. The company had revenue of $175.74 million during the quarter, compared to analyst estimates of $189.10 million. Wingstop had a negative return on equity of 16.17% and a net margin of 25.51%.The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. As a group, sell-side analysts forecast that Wingstop will post 4.18 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be paid a $0.30 dividend. The ex-dividend date is Friday, November 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.5%. Wingstop’s payout ratio is currently 19.54%.

Institutional Investors Weigh In On Wingstop

Several institutional investors and hedge funds have recently added to or reduced their stakes in WING. Cornerstone Planning Group LLC grew its position in Wingstop by 1,650.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 99 shares during the period. Signaturefd LLC boosted its stake in shares of Wingstop by 106.9% in the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator’s stock worth $34,000 after buying an additional 77 shares during the last quarter. Quaker Wealth Management LLC grew its holdings in shares of Wingstop by 134.2% in the second quarter. Quaker Wealth Management LLC now owns 104 shares of the restaurant operator’s stock worth $35,000 after acquiring an additional 408 shares during the period. CBIZ Investment Advisory Services LLC grew its holdings in shares of Wingstop by 54.3% in the third quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock worth $36,000 after acquiring an additional 50 shares during the period. Finally, Ameriflex Group Inc. purchased a new stake in Wingstop during the second quarter valued at $43,000.

Wingstop Company Profile

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.