Wingstop (NASDAQ:WING) Stock Price Down 3.8% – Here’s Why

Wingstop Inc. (NASDAQ:WING)’s share price dropped 3.8% during mid-day trading on Wednesday . The company traded as low as $154.36 and last traded at $156.5060. Approximately 102,610 shares changed hands during trading, a decline of 91% from the average daily volume of 1,138,266 shares. The stock had previously closed at $162.73.

Analyst Upgrades and Downgrades

WING has been the subject of several research analyst reports. Raymond James Financial raised shares of Wingstop from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $325.00 to $240.00 in a research report on Thursday, April 2nd. The Goldman Sachs Group cut shares of Wingstop from a “buy” rating to a “neutral” rating and reduced their price target for the company from $290.00 to $190.00 in a research report on Thursday, April 30th. Morgan Stanley restated an “overweight” rating and issued a $255.00 price objective on shares of Wingstop in a report on Thursday, April 30th. Royal Bank Of Canada cut their price objective on Wingstop from $275.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Finally, Weiss Ratings lowered Wingstop from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $268.70.

Wingstop Stock Up 7.8%

The firm has a fifty day moving average price of $156.74 and a two-hundred day moving average price of $209.87. The stock has a market capitalization of $4.41 billion, a P/E ratio of 40.24, a P/E/G ratio of 1.67 and a beta of 1.82.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.16. Wingstop had a negative return on equity of 16.22% and a net margin of 15.77%.The firm had revenue of $183.72 million during the quarter, compared to analyst estimates of $187.82 million. During the same quarter in the previous year, the firm earned $0.99 EPS. Wingstop’s quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that Wingstop Inc. will post 4.59 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.20 annualized dividend and a yield of 0.7%. Wingstop’s payout ratio is 29.85%.

Institutional Investors Weigh In On Wingstop

A number of institutional investors have recently made changes to their positions in WING. SBI Securities Co. Ltd. lifted its position in Wingstop by 76.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after acquiring an additional 60 shares in the last quarter. Rakuten Securities Inc. increased its holdings in shares of Wingstop by 197.9% in the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock worth $34,000 after purchasing an additional 95 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of Wingstop by 75.7% in the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock worth $45,000 after purchasing an additional 81 shares in the last quarter. Pinnacle Holdings LLC purchased a new position in shares of Wingstop in the third quarter worth $47,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Wingstop by 121.4% in the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 119 shares during the last quarter.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.