Barclays Increases Wingstop (WING) Price Target to $52.00

Wingstop (NASDAQ:WING) had its target price hoisted by analysts at Barclays from $48.00 to $52.00 in a research note issued to investors on Monday, August 6th. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Barclays’ target price indicates a potential downside of 22.33% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Stifel Nicolaus increased their target price on Wingstop from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, May 4th. BidaskClub cut Wingstop from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 12th. ValuEngine raised Wingstop from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Wedbush reissued a “hold” rating and issued a $51.00 price objective on shares of Wingstop in a research report on Friday, May 4th. Finally, Deutsche Bank set a $49.00 price objective on Wingstop and gave the stock a “hold” rating in a research report on Friday, May 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Wingstop currently has a consensus rating of “Buy” and an average target price of $56.14.

Shares of NASDAQ WING traded up $0.38 during midday trading on Monday, hitting $66.95. The company’s stock had a trading volume of 417,600 shares, compared to its average volume of 587,776. The company has a debt-to-equity ratio of -1.53, a quick ratio of 0.68 and a current ratio of 0.68. Wingstop has a 12-month low of $31.53 and a 12-month high of $67.62. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 90.49, a PEG ratio of 4.06 and a beta of 0.81.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Thursday, August 2nd. The restaurant operator reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. Wingstop had a negative return on equity of 24.63% and a net margin of 22.15%. The firm had revenue of $37.04 million for the quarter, compared to the consensus estimate of $36.92 million. During the same period in the prior year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. sell-side analysts predict that Wingstop will post 0.84 earnings per share for the current year.

In related news, Chairman Charles R. Morrison sold 17,000 shares of Wingstop stock in a transaction dated Wednesday, August 8th. The stock was 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Lawrence Kruguer sold 1,112 shares of Wingstop stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $51.73, for a total value of $57,523.76. The disclosure for this sale can be found here. Insiders have sold a total of 40,271 shares of company stock valued at $2,287,198 in the last quarter. Company insiders own 1.76% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Swiss National Bank increased its stake in shares of Wingstop by 2.0% in the 1st quarter. Swiss National Bank now owns 50,500 shares of the restaurant operator’s stock valued at $2,385,000 after purchasing an additional 1,000 shares in the last quarter. Denver Investment Advisors LLC boosted its holdings in Wingstop by 6.6% in the 1st quarter. Denver Investment Advisors LLC now owns 16,880 shares of the restaurant operator’s stock worth $797,000 after buying an additional 1,041 shares during the last quarter. Legal & General Group Plc boosted its holdings in Wingstop by 2.2% in the 1st quarter. Legal & General Group Plc now owns 54,164 shares of the restaurant operator’s stock worth $2,559,000 after buying an additional 1,148 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Wingstop by 3.8% in the 4th quarter. Alliancebernstein L.P. now owns 35,700 shares of the restaurant operator’s stock worth $1,392,000 after buying an additional 1,300 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Wingstop by 2.9% in the 1st quarter. Prudential Financial Inc. now owns 48,330 shares of the restaurant operator’s stock worth $2,283,000 after buying an additional 1,360 shares during the last quarter.

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 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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