Zacks Investment Research Downgrades Wingstop (NASDAQ:WING) to Hold

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Zacks Investment Research lowered shares of Wingstop (NASDAQ:WING) from a buy rating to a hold rating in a report published on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $84.00 target price on the restaurant operator’s stock.

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. “

A number of other analysts have also commented on WING. SunTrust Banks lifted their price target on Wingstop from $104.00 to $113.00 and gave the company a buy rating in a research note on Thursday, February 20th. Jefferies Financial Group lifted their price target on Wingstop from $83.00 to $90.00 and gave the company a hold rating in a research note on Thursday, February 20th. They noted that the move was a valuation call. Goldman Sachs Group cut their price objective on Wingstop from $140.00 to $135.00 and set a buy rating on the stock in a research note on Friday, January 17th. ValuEngine lowered Wingstop from a buy rating to a hold rating in a research note on Tuesday, December 3rd. Finally, BTIG Research reaffirmed a buy rating and issued a $103.00 price objective on shares of Wingstop in a research note on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $103.94.

Shares of WING stock opened at $68.08 on Thursday. The business’s 50-day moving average price is $90.59 and its 200-day moving average price is $87.66. Wingstop has a 12 month low of $63.69 and a 12 month high of $107.43. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 98.67, a PEG ratio of 6.92 and a beta of 0.82.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, February 19th. The restaurant operator reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.04). Wingstop had a net margin of 10.26% and a negative return on equity of 10.13%. The firm had revenue of $53.19 million for the quarter, compared to analyst estimates of $53.07 million. During the same period in the previous year, the business posted $0.15 earnings per share. The business’s revenue for the quarter was up 31.3% compared to the same quarter last year. As a group, analysts forecast that Wingstop will post 0.9 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a $0.11 dividend. The ex-dividend date is Thursday, March 5th. This represents a $0.44 dividend on an annualized basis and a yield of 0.65%. Wingstop’s payout ratio is currently 60.27%.

In other Wingstop news, insider Madison Jobe sold 957 shares of Wingstop stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $80.87, for a total value of $77,392.59. Following the completion of the sale, the insider now directly owns 7,312 shares in the company, valued at $591,321.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles R. Morrison sold 35,125 shares of Wingstop stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $80.87, for a total value of $2,840,558.75. Following the completion of the sale, the chief executive officer now owns 124,332 shares of the company’s stock, valued at $10,054,728.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,292 shares of company stock valued at $2,933,836. 1.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of WING. Advisory Services Network LLC increased its holdings in Wingstop by 228.0% in the fourth quarter. Advisory Services Network LLC now owns 410 shares of the restaurant operator’s stock worth $35,000 after purchasing an additional 285 shares in the last quarter. Coastal Investment Advisors Inc. increased its holdings in shares of Wingstop by 21.6% during the fourth quarter. Coastal Investment Advisors Inc. now owns 1,234 shares of the restaurant operator’s stock valued at $99,000 after acquiring an additional 219 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Wingstop during the third quarter valued at approximately $153,000. Procyon Private Wealth Partners LLC bought a new stake in shares of Wingstop during the fourth quarter valued at approximately $153,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Wingstop by 57.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,829 shares of the restaurant operator’s stock valued at $160,000 after acquiring an additional 669 shares in 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 December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.

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