Cowen Cuts Wingstop (NASDAQ:WING) Price Target to $100.00

Wingstop (NASDAQ:WINGGet Rating) had its price objective dropped by equities research analysts at Cowen to $100.00 in a note issued to investors on Wednesday, Stock Target Advisor reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Cowen’s target price points to a potential upside of 36.50% from the stock’s current price.

WING has been the subject of a number of other reports. Citigroup dropped their price target on shares of Wingstop from $160.00 to $139.00 in a research note on Thursday, May 5th. TheStreet downgraded shares of Wingstop from a “b-” rating to a “c+” rating in a research note on Tuesday, February 22nd. Robert W. Baird dropped their price target on shares of Wingstop from $145.00 to $120.00 in a research note on Thursday, May 5th. Piper Sandler downgraded shares of Wingstop from an “overweight” rating to an “underweight” rating in a research note on Friday, March 18th. Finally, The Goldman Sachs Group boosted their price target on shares of Wingstop from $168.00 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, February 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $152.50.

Shares of WING stock traded down $5.83 during trading hours on Wednesday, reaching $73.26. 5,793 shares of the company were exchanged, compared to its average volume of 784,947. Wingstop has a fifty-two week low of $72.19 and a fifty-two week high of $187.35. The stock’s fifty day moving average is $104.30 and its two-hundred day moving average is $139.65. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 57.20, a P/E/G ratio of 4.76 and a beta of 1.40.

Wingstop (NASDAQ:WINGGet Rating) last announced its earnings results on Wednesday, May 4th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Wingstop had a negative return on equity of 10.89% and a net margin of 13.25%. The company had revenue of $76.20 million for the quarter, compared to analyst estimates of $86.16 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. Wingstop’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Wingstop will post 1.55 EPS for the current year.

In other Wingstop news, COO Michael Skipworth sold 748 shares of the company’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $136.24, for a total value of $101,907.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Donnie Upshaw sold 780 shares of the firm’s stock in a transaction dated Friday, February 18th. The stock was sold at an average price of $154.75, for a total transaction of $120,705.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,209 shares of company stock valued at $451,593. 0.64% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Manchester Capital Management LLC lifted its stake in shares of Wingstop by 1,400.0% during the 3rd quarter. Manchester Capital Management LLC now owns 150 shares of the restaurant operator’s stock worth $25,000 after buying an additional 140 shares during the last quarter. Pinebridge Investments L.P. acquired a new stake in shares of Wingstop during the 4th quarter worth about $69,000. Fifth Third Bancorp lifted its stake in shares of Wingstop by 11.1% during the 4th quarter. Fifth Third Bancorp now owns 821 shares of the restaurant operator’s stock worth $142,000 after buying an additional 82 shares during the last quarter. Gladius Capital Management LP lifted its stake in shares of Wingstop by 20.2% during the 1st quarter. Gladius Capital Management LP now owns 1,254 shares of the restaurant operator’s stock worth $148,000 after buying an additional 211 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of Wingstop by 641.3% during the 4th quarter. Lindbrook Capital LLC now owns 897 shares of the restaurant operator’s stock worth $155,000 after buying an additional 776 shares during the last quarter.

Wingstop Company Profile (Get Rating)

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide.

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