Wingstop (NASDAQ:WING) Upgraded to “Buy” at BTIG Research

BTIG Research upgraded shares of Wingstop (NASDAQ:WING) from a neutral rating to a buy rating in a report issued on Tuesday, Benzinga reports.

A number of other equities research analysts have also commented on WING. Loop Capital initiated coverage on shares of Wingstop in a report on Tuesday, October 8th. They set a buy rating and a $100.00 price target for the company. Cowen set a $104.00 price target on shares of Wingstop and gave the stock a buy rating in a report on Friday, September 27th. Wedbush set a $88.00 price objective on shares of Wingstop and gave the company a hold rating in a research report on Friday, October 25th. BidaskClub raised shares of Wingstop from a strong sell rating to a sell rating in a research note on Thursday, November 28th. Finally, Zacks Investment Research raised Wingstop from a hold rating to a buy rating and set a $98.00 target price on the stock in a research note on Saturday, October 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $99.86.

WING opened at $78.97 on Tuesday. The stock’s 50 day simple moving average is $80.87 and its 200 day simple moving average is $89.26. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 94.01, a PEG ratio of 6.15 and a beta of 0.76. Wingstop has a 1 year low of $56.95 and a 1 year high of $107.43.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The firm had revenue of $49.88 million during the quarter, compared to the consensus estimate of $49.26 million. Wingstop had a negative return on equity of 9.95% and a net margin of 10.61%. The business’s revenue was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. On average, equities research analysts anticipate that Wingstop will post 0.77 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Tuesday, November 26th. Wingstop’s dividend payout ratio is currently 52.38%.

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

A number of institutional investors have recently made changes to their positions in WING. Smithfield Trust Co. boosted its stake in Wingstop by 1,090.0% during the third quarter. Smithfield Trust Co. now owns 1,190 shares of the restaurant operator’s stock worth $104,000 after acquiring an additional 1,090 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Wingstop in the 2nd quarter worth approximately $110,000. Centaurus Financial Inc. bought a new stake in shares of Wingstop in the 2nd quarter worth approximately $127,000. Russell Investments Group Ltd. purchased a new stake in shares of Wingstop in the 3rd quarter worth approximately $153,000. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Wingstop in the 3rd quarter worth approximately $208,000.

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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