Wingstop (NASDAQ:WING) Downgraded by BidaskClub to “Strong Sell”

Wingstop (NASDAQ:WING) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday, November 21st, BidAskClub reports.

Several other equities analysts have also recently commented on the stock. SunTrust Banks increased their price target on shares of Wingstop to $102.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wedbush set a $88.00 target price on shares of Wingstop and gave the stock a “hold” rating in a report on Friday, October 25th. Cowen set a $104.00 target price on shares of Wingstop and gave the stock a “buy” rating in a report on Friday, September 27th. Loop Capital started coverage on shares of Wingstop in a report on Tuesday, October 8th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Stifel Nicolaus raised their target price on shares of Wingstop from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $99.86.

NASDAQ:WING opened at $80.00 on Thursday. The firm has a 50-day moving average of $81.61 and a two-hundred day moving average of $89.25. The stock has a market cap of $2.39 billion, a P/E ratio of 95.24, a PEG ratio of 6.23 and a beta of 0.79. Wingstop has a 1-year low of $56.95 and a 1-year high of $107.43.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. Wingstop had a net margin of 10.61% and a negative return on equity of 9.95%. The business had revenue of $49.88 million for the quarter, compared to analysts’ expectations of $49.26 million. During the same quarter last year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. On average, analysts predict that Wingstop will post 0.77 earnings per share for the current year.

In related news, insider Michael Skipworth sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $82.42, for a total transaction of $164,840.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Charles R. Morrison sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $75.80, for a total transaction of $1,516,000.00. Following the transaction, the chief executive officer now owns 88,645 shares in the company, valued at approximately $6,719,291. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co NY grew its position in Wingstop by 6.0% in the third quarter. Metropolitan Life Insurance Co NY now owns 9,466 shares of the restaurant operator’s stock worth $826,000 after buying an additional 533 shares during the last quarter. Millennium Management LLC boosted its stake in Wingstop by 1,252.3% in the 3rd quarter. Millennium Management LLC now owns 133,689 shares of the restaurant operator’s stock worth $11,668,000 after purchasing an additional 123,803 shares during the period. Voloridge Investment Management LLC boosted its stake in Wingstop by 65.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 63,561 shares of the restaurant operator’s stock worth $5,548,000 after purchasing an additional 25,100 shares during the period. Castleark Management LLC acquired a new position in Wingstop in the 3rd quarter worth approximately $1,383,000. Finally, California State Teachers Retirement System boosted its stake in Wingstop by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 45,734 shares of the restaurant operator’s stock worth $3,992,000 after purchasing an additional 546 shares during the period.

About Wingstop

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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Analyst Recommendations for Wingstop (NASDAQ:WING)

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