BTIG Research Has Lowered Expectations for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its target price reduced by investment analysts at BTIG Research from $305.00 to $265.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. BTIG Research’s target price would suggest a potential upside of 90.03% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley reiterated an “overweight” rating and issued a $255.00 target price on shares of Wingstop in a research report on Thursday, April 30th. Citigroup upped their price target on shares of Wingstop from $229.00 to $237.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. DA Davidson cut their price objective on Wingstop from $230.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Royal Bank Of Canada reduced their price objective on Wingstop from $250.00 to $225.00 and set an “outperform” rating for the company in a research report on Tuesday, June 23rd. Finally, Wells Fargo & Company lowered their target price on Wingstop from $200.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wingstop has an average rating of “Moderate Buy” and an average price target of $253.70.

Wingstop Price Performance

Wingstop stock opened at $139.45 on Thursday. The firm has a 50 day simple moving average of $152.29 and a 200-day simple moving average of $189.66. The stock has a market capitalization of $3.80 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 1.62 and a beta of 1.79. Wingstop has a 12-month low of $116.35 and a 12-month high of $381.45.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The firm had revenue of $185.56 million during the quarter, compared to analyst estimates of $190.25 million. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $1.00 EPS. On average, analysts forecast that Wingstop will post 4.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WING. SBI Securities Co. Ltd. lifted its stake in shares of 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 purchasing an additional 60 shares during the last quarter. Rakuten Securities Inc. increased its position in Wingstop by 197.9% during the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock worth $34,000 after buying an additional 95 shares during the last quarter. GW&K Investment Management LLC increased its position in Wingstop by 75.7% during the fourth quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock worth $45,000 after buying an additional 81 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in Wingstop during the second quarter valued at about $46,000. Finally, Geneos Wealth Management Inc. raised its holdings in Wingstop by 121.4% during the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after buying an additional 119 shares in the last quarter.

Wingstop News Summary

Here are the key news stories impacting Wingstop this week:

• Positive Sentiment: Earnings exceeded expectations: Wingstop reported fiscal second-quarter adjusted earnings of $1.18 per share, up from $1.00 a year earlier and above the $1.02 analyst consensus. Wingstop Tops Q2 Earnings Estimates
• Positive Sentiment: Expansion remained strong: The company opened 102 net new restaurants during the quarter, driving 16% unit growth. System-wide sales reached approximately $1.4 billion, supporting Wingstop’s long-term growth strategy. Wingstop Fiscal Second-Quarter Financial Results
• Positive Sentiment: Dividend increased: Wingstop declared a quarterly dividend of $0.33 per share, a 10% increase from $0.30. Investors of record on August 15 will receive the payment on September 5, providing a modestly stronger shareholder return.
• Positive Sentiment: Promotional visibility may support traffic: National Chicken Wing Day promotions, including free wings and a $1 million prize campaign, are increasing consumer awareness and could help attract customers to Wingstop restaurants and its digital channels. Wingstop National Wing Day Promotion

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.