Zacks Investment Research Upgrades Wingstop (WING) to “Hold”

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Wingstop (NASDAQ:WING) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.

According to Zacks, “Wingstop Inc. franchises and operates restaurants. The Company’s operating segment consists of Franchise segment and Company segment. It offers cooked-to-order, hand-sauced and tossed chicken wings. Wingstop Inc. is headquartered in Dallas, Texas. “

Several other analysts also recently commented on WING. BidaskClub downgraded shares of Wingstop from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 1st. SunTrust Banks raised their target price on shares of Wingstop from $62.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 3rd. Guggenheim upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Wednesday, October 3rd. Gordon Haskett initiated coverage on shares of Wingstop in a report on Thursday, October 18th. They set a “buy” rating and a $81.00 target price on the stock. Finally, Morgan Stanley downgraded shares of Wingstop from an “overweight” rating to an “equal weight” rating and set a $69.00 target price on the stock. in a report on Thursday, October 18th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Wingstop has a consensus rating of “Buy” and a consensus target price of $64.00.

Shares of NASDAQ:WING traded up $0.94 during mid-day trading on Friday, reaching $69.99. The stock had a trading volume of 691,885 shares, compared to its average volume of 601,886. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 94.58, a P/E/G ratio of 4.22 and a beta of 0.99. Wingstop has a twelve month low of $41.76 and a twelve month high of $75.58.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Monday, October 29th. The restaurant operator reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $38.25 million for the quarter, compared to the consensus estimate of $38.02 million. Wingstop had a net margin of 21.14% and a negative return on equity of 21.61%. Wingstop’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. On average, equities analysts anticipate that Wingstop will post 0.86 earnings per share for the current year.

In other news, insider Lawrence Kruguer sold 2,600 shares of Wingstop stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $62.41, for a total value of $162,266.00. Following the sale, the insider now directly owns 5,531 shares in the company, valued at $345,189.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in shares of Wingstop by 1.9% in the fourth quarter. State of Alaska Department of Revenue now owns 9,805 shares of the restaurant operator’s stock valued at $629,000 after purchasing an additional 185 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Wingstop by 13.1% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,989 shares of the restaurant operator’s stock valued at $477,000 after purchasing an additional 811 shares during the last quarter. Sapphire Star Partners LP raised its holdings in shares of Wingstop by 5.4% in the third quarter. Sapphire Star Partners LP now owns 15,885 shares of the restaurant operator’s stock valued at $1,084,000 after purchasing an additional 812 shares during the last quarter. Yorktown Management & Research Co Inc raised its holdings in shares of Wingstop by 10.3% in the third quarter. Yorktown Management & Research Co Inc now owns 11,036 shares of the restaurant operator’s stock valued at $753,000 after purchasing an additional 1,032 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its holdings in shares of Wingstop by 24.8% in the third quarter. Riverhead Capital Management LLC now owns 5,530 shares of the restaurant operator’s stock valued at $377,000 after purchasing an additional 1,100 shares during the last quarter.

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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