Wingstop (WING) Downgraded by Morgan Stanley to “Equal Weight”

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Morgan Stanley lowered shares of Wingstop (NASDAQ:WING) from an overweight rating to an equal weight rating in a research note released on Thursday, MarketBeat reports. The brokerage currently has $69.00 target price on the restaurant operator’s stock. The analysts noted that the move was a valuation call.

A number of other research analysts have also recently issued reports on WING. Jefferies Financial Group reaffirmed a sell rating and issued a $42.00 target price on shares of Wingstop in a report on Friday, July 13th. TheStreet upgraded shares of Wingstop from a c+ rating to a b rating in a research report on Friday, July 13th. SunTrust Banks reiterated a buy rating and issued a $62.00 price target on shares of Wingstop in a research report on Friday, August 3rd. Stephens reiterated a buy rating and issued a $57.00 price target on shares of Wingstop in a research report on Friday, August 3rd. Finally, Barclays increased their price target on shares of Wingstop from $48.00 to $52.00 and gave the company an equal weight rating in a research report on Monday, August 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $64.63.

NASDAQ WING traded down $0.41 during trading hours on Thursday, hitting $70.95. 23,712 shares of the stock were exchanged, compared to its average volume of 544,071. The stock has a market capitalization of $2.16 billion, a P/E ratio of 96.53, a P/E/G ratio of 4.49 and a beta of 1.03. Wingstop has a 12-month low of $31.53 and a 12-month high of $75.58. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of -1.53.

Wingstop (NASDAQ:WING) last issued its earnings results on Thursday, August 2nd. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. Wingstop had a net margin of 22.15% and a negative return on equity of 24.63%. The company had revenue of $37.04 million during the quarter, compared to analysts’ expectations of $36.92 million. During the same period last year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts expect that Wingstop will post 0.85 earnings per share for the current fiscal year.

In other Wingstop news, Chairman Charles R. Morrison sold 17,000 shares of Wingstop stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $60.13, for a total value of $1,022,210.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stacy Peterson sold 5,259 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $58.87, for a total transaction of $309,597.33. Following the completion of the transaction, the insider now directly owns 31,423 shares in the company, valued at approximately $1,849,872.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,596 shares of company stock worth $1,966,570. 1.76% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Seven Eight Capital LP purchased a new position in shares of Wingstop in the 3rd quarter valued at $1,252,000. Nisa Investment Advisors LLC raised its stake in shares of Wingstop by 46.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,100 shares of the restaurant operator’s stock valued at $280,000 after acquiring an additional 1,300 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Wingstop in the 3rd quarter valued at $413,000. Northern Trust Corp raised its stake in shares of Wingstop by 8.8% in the 2nd quarter. Northern Trust Corp now owns 368,705 shares of the restaurant operator’s stock valued at $19,216,000 after acquiring an additional 29,797 shares during the period. Finally, Strategic Wealth Advisors Group LLC purchased a new position in shares of Wingstop in the 2nd quarter valued at $646,000.

Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.

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