The Zacks Investment Research Downgrades Wingstop Inc. (WING) to Hold

The Zacks Investment Research Downgrades Wingstop Inc. (WING) to Hold

Wingstop Inc. (NASDAQ:WING) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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 research firms also recently weighed in on WING. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Wingstop in a research note on Sunday, December 4th. Jefferies Group downgraded Wingstop from a “buy” rating to a “hold” rating in a research note on Wednesday, January 4th. Finally, Wells Fargo & Co. raised Wingstop from a “market perform” rating to an “outperform” rating in a research note on Monday, November 14th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Wingstop has a consensus rating of “Buy” and a consensus target price of $32.90.

Wingstop (NASDAQ:WING) opened at 28.87 on Tuesday. Wingstop has a 52 week low of $20.73 and a 52 week high of $33.42. The stock has a 50 day moving average price of $30.36 and a 200 day moving average price of $29.13. The firm has a market cap of $829.93 million, a price-to-earnings ratio of 56.83 and a beta of 0.84.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Wingstop had a negative return on equity of 69.17% and a net margin of 17.11%. The firm earned $21.80 million during the quarter. During the same period in the previous year, the business earned $0.11 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts expect that Wingstop will post $0.57 EPS for the current year.

In other news, Director Neal K. Aronson sold 6,765,858 shares of Wingstop stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $26.28, for a total value of $177,806,748.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 45.70% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in WING. Rhumbline Advisers acquired a new stake in shares of Wingstop during the second quarter worth approximately $335,000. Teachers Advisors Inc. increased its stake in shares of Wingstop by 254.2% in the second quarter. Teachers Advisors Inc. now owns 24,629 shares of the company’s stock worth $671,000 after buying an additional 17,675 shares in the last quarter. American International Group Inc. increased its stake in shares of Wingstop by 132.5% in the second quarter. American International Group Inc. now owns 9,060 shares of the company’s stock worth $247,000 after buying an additional 5,163 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Wingstop during the second quarter worth approximately $352,000. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Wingstop by 64.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 368,175 shares of the company’s stock worth $10,033,000 after buying an additional 144,719 shares in the last quarter. 85.68% of the stock is owned by institutional investors and hedge funds.

Wingstop Company Profile

Wingstop Inc is a franchisor and operator of restaurants that specialize in cooked-to-order, hand-sauced and tossed chicken wings. The Company offers its guests with over 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides. It is a casual chicken wings-focused restaurant chain with various concepts, which include wings as add-on menu items or focus on wings in a bar or sports-centric setting.

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