Royal Bank Of Canada Cuts Wingstop (NASDAQ:WING) Price Target to $225.00

Wingstop (NASDAQ:WING) had its price objective dropped by analysts at Royal Bank Of Canada from $250.00 to $225.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Royal Bank Of Canada’s price target points to a potential upside of 48.13% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Mizuho set a $280.00 price target on Wingstop in a report on Friday, June 5th. Barclays cut their price target on shares of Wingstop from $330.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. BTIG Research reiterated a “buy” rating and set a $305.00 price objective on shares of Wingstop in a research note on Thursday, May 28th. Raymond James Financial raised shares of Wingstop from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $325.00 to $240.00 in a report on Thursday, April 2nd. Finally, Weiss Ratings cut Wingstop from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $267.78.

Wingstop Stock Performance

NASDAQ:WING opened at $151.89 on Tuesday. The firm has a market cap of $4.14 billion, a P/E ratio of 39.16, a P/E/G ratio of 1.80 and a beta of 1.82. The firm has a 50-day simple moving average of $156.16 and a 200-day simple moving average of $208.28. Wingstop has a one year low of $116.35 and a one year high of $381.45.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 EPS for the quarter, beating the consensus estimate of $1.02 by $0.16. The business had revenue of $183.72 million during the quarter, compared to analyst estimates of $187.82 million. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 earnings per share. On average, research analysts predict that Wingstop will post 4.59 EPS for the current fiscal year.

Institutional Trading of Wingstop

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lone Pine Capital LLC acquired a new stake in shares of Wingstop during the third quarter valued at about $375,317,000. TD Asset Management Inc lifted its holdings in shares of Wingstop by 17.1% in the 3rd quarter. TD Asset Management Inc now owns 57,586 shares of the restaurant operator’s stock worth $14,493,000 after acquiring an additional 8,414 shares during the last quarter. Capital World Investors lifted its holdings in shares of Wingstop by 160.6% in the 3rd quarter. Capital World Investors now owns 740,896 shares of the restaurant operator’s stock worth $186,469,000 after acquiring an additional 456,637 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its position in shares of Wingstop by 74.4% during the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 18,990 shares of the restaurant operator’s stock worth $4,779,000 after purchasing an additional 8,103 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Wingstop by 553.3% during the 4th quarter. SG Americas Securities LLC now owns 41,349 shares of the restaurant operator’s stock worth $9,861,000 after purchasing an additional 35,020 shares during the period.

About Wingstop

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.