Wingstop (NASDAQ:WING) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Wingstop (NASDAQ:WING) in a report published on Thursday, BenzingaRatingsTable reports. The brokerage issued a market perform rating on the restaurant operator’s stock.

Other analysts have also issued reports about the company. Wells Fargo & Co boosted their price objective on Wingstop from $85.00 to $111.00 and gave the stock an outperform rating in a report on Monday, July 22nd. BidaskClub lowered Wingstop from a hold rating to a sell rating in a report on Tuesday, September 17th. Stephens lowered Wingstop from an overweight rating to an equal weight rating and set a $93.00 price objective for the company. in a report on Friday, June 28th. Piper Jaffray Companies boosted their price objective on Wingstop from $88.00 to $108.00 and gave the stock an overweight rating in a report on Monday, July 15th. Finally, Northcoast Research assumed coverage on Wingstop in a report on Tuesday, July 30th. They set a sell rating for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $92.14.

WING stock opened at $87.53 on Thursday. The stock’s 50 day simple moving average is $96.87 and its 200 day simple moving average is $85.98. Wingstop has a fifty-two week low of $56.95 and a fifty-two week high of $107.43. The company has a market cap of $2.58 billion, a P/E ratio of 116.63, a price-to-earnings-growth ratio of 6.13 and a beta of 0.83.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Thursday, August 1st. The restaurant operator reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $48.56 million for the quarter, compared to the consensus estimate of $47.53 million. Wingstop had a negative return on equity of 11.09% and a net margin of 11.54%. The firm’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. Equities analysts predict that Wingstop will post 0.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This is a positive change from Wingstop’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.50%. Wingstop’s dividend payout ratio is currently 52.38%.

In other news, Director Michael J. Hislop sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $93.74, for a total value of $468,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles R. Morrison sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $101.06, for a total value of $111,166.00. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Chesapeake Wealth Management grew its holdings in shares of Wingstop by 55.2% in the second quarter. Chesapeake Wealth Management now owns 12,379 shares of the restaurant operator’s stock valued at $1,173,000 after acquiring an additional 4,403 shares in the last quarter. EULAV Asset Management bought a new position in shares of Wingstop in the second quarter valued at approximately $502,000. Mason Street Advisors LLC grew its holdings in shares of Wingstop by 3.6% in the first quarter. Mason Street Advisors LLC now owns 9,421 shares of the restaurant operator’s stock valued at $716,000 after acquiring an additional 323 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Wingstop by 2.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,770 shares of the restaurant operator’s stock valued at $831,000 after acquiring an additional 180 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Wingstop by 44.3% in the first quarter. Wells Fargo & Company MN now owns 542,169 shares of the restaurant operator’s stock valued at $41,221,000 after acquiring an additional 166,571 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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Analyst Recommendations for Wingstop (NASDAQ:WING)

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