Wingstop (WING) Receives New Coverage from Analysts at Piper Jaffray Companies

Piper Jaffray Companies began coverage on shares of Wingstop (NASDAQ:WING) in a research report sent to investors on Monday, 24/7 WallStreet reports. The brokerage issued an overweight rating and a $88.00 target price on the restaurant operator’s stock. Piper Jaffray Companies also issued estimates for Wingstop’s Q2 2019 earnings at $0.17 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.17 EPS, FY2019 earnings at $0.74 EPS, Q1 2020 earnings at $0.25 EPS, Q2 2020 earnings at $0.22 EPS, Q3 2020 earnings at $0.23 EPS, Q4 2020 earnings at $0.22 EPS and FY2020 earnings at $0.91 EPS.

A number of other research firms also recently commented on WING. Wells Fargo & Co boosted their price objective on Wingstop from $76.00 to $84.00 and gave the stock an outperform rating in a research note on Monday, May 6th. Stephens boosted their price objective on Wingstop from $75.00 to $80.00 and gave the stock an overweight rating in a research note on Wednesday, May 8th. Wedbush reissued a buy rating and issued a $74.00 price objective (up previously from $69.00) on shares of Wingstop in a research note on Wednesday, March 13th. BidaskClub downgraded Wingstop from a buy rating to a hold rating in a research note on Wednesday, February 20th. Finally, Zacks Investment Research downgraded Wingstop from a buy rating to a hold rating in a research note on Saturday, March 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Wingstop presently has a consensus rating of Hold and a consensus target price of $70.99.

Shares of Wingstop stock opened at $79.26 on Monday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 94.36, a price-to-earnings-growth ratio of 5.51 and a beta of 0.85. Wingstop has a 1-year low of $47.83 and a 1-year high of $79.92.

Wingstop (NASDAQ:WING) last announced its earnings results on Tuesday, May 7th. The restaurant operator reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $48.05 million for the quarter, compared to the consensus estimate of $45.68 million. Wingstop had a negative return on equity of 13.31% and a net margin of 13.52%. The firm’s revenue for the quarter was up 28.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. On average, equities research analysts expect that Wingstop will post 0.74 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Thursday, June 6th. Wingstop’s dividend payout ratio is presently 42.86%.

In related news, insider Lawrence Kruguer sold 1,902 shares of Wingstop stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $65.27, for a total value of $124,143.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Madison Jobe sold 2,823 shares of Wingstop stock in a transaction on Friday, May 10th. The stock was sold at an average price of $77.98, for a total value of $220,137.54. The disclosure for this sale can be found here. Insiders sold a total of 30,260 shares of company stock worth $2,091,975 over the last 90 days. Insiders own 1.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC acquired a new position in shares of Wingstop in the 1st quarter worth $40,000. Captrust Financial Advisors grew its holdings in shares of Wingstop by 165.4% during the fourth quarter. Captrust Financial Advisors now owns 929 shares of the restaurant operator’s stock valued at $60,000 after buying an additional 579 shares in the last quarter. Coastal Investment Advisors Inc. purchased a new position in shares of Wingstop during the first quarter valued at $96,000. Bank of Montreal Can grew its holdings in shares of Wingstop by 16.0% during the fourth quarter. Bank of Montreal Can now owns 1,525 shares of the restaurant operator’s stock valued at $98,000 after buying an additional 210 shares in the last quarter. Finally, First Mercantile Trust Co. purchased a new position in shares of Wingstop during the first quarter valued at $209,000.

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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