Bank of America Lowers Wingstop (NASDAQ:WING) Price Target to $234.00

Wingstop (NASDAQ:WING) had its price target lowered by research analysts at Bank of America from $264.00 to $234.00 in a research report issued on Wednesday,MarketScreener reports. Bank of America‘s price target would indicate a potential upside of 55.57% from the company’s current price.

A number of other research analysts have also recently issued reports on WING. Barclays decreased their target price on Wingstop from $330.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. BNP Paribas Exane started coverage on Wingstop in a research report on Monday, March 30th. They issued an “outperform” rating and a $275.00 target price on the stock. UBS Group decreased their target price on shares of Wingstop from $210.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. Morgan Stanley restated an “overweight” rating and issued a $255.00 price target on shares of Wingstop in a research note on Thursday, April 30th. Finally, Stephens reaffirmed an “overweight” rating and issued a $225.00 target price on shares of Wingstop in a report on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Wingstop has an average rating of “Moderate Buy” and an average price target of $260.89.

Wingstop Trading Down 4.0%

Shares of WING opened at $150.41 on Wednesday. The stock has a market cap of $4.10 billion, a P/E ratio of 37.42, a price-to-earnings-growth ratio of 1.75 and a beta of 1.82. The stock’s 50-day moving average price is $155.57 and its two-hundred day moving average price is $207.44. Wingstop has a 1 year low of $116.35 and a 1 year high of $381.45.

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

Institutional Investors Weigh In On Wingstop

Several institutional investors and hedge funds have recently added to or reduced their stakes in WING. Bank of America Corp DE boosted its holdings in shares of Wingstop by 54.2% in the 1st quarter. Bank of America Corp DE now owns 255,732 shares of the restaurant operator’s stock valued at $39,631,000 after purchasing an additional 89,915 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Wingstop in the 1st quarter valued at approximately $2,977,000. Janus Henderson Group PLC grew its stake in shares of Wingstop by 18.3% during the first quarter. Janus Henderson Group PLC now owns 798,616 shares of the restaurant operator’s stock worth $123,761,000 after buying an additional 123,315 shares during the last quarter. California State Teachers Retirement System grew its position in Wingstop by 22.2% during the 1st quarter. California State Teachers Retirement System now owns 32,353 shares of the restaurant operator’s stock worth $5,014,000 after acquiring an additional 5,879 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Wingstop during the first quarter worth about $1,999,000.

About Wingstop

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.