Wingstop (NASDAQ:WING) PT Lowered to $100.00 at Cowen

Wingstop (NASDAQ:WINGGet Rating) had its price target cut by investment analysts at Cowen from $120.00 to $100.00 in a research report issued on Wednesday, The Fly reports. Cowen’s price objective points to a potential upside of 26.44% from the stock’s previous close.

A number of other equities analysts have also commented on WING. Cowen cut their price target on Wingstop from $135.00 to $120.00 in a report on Thursday, May 5th. StockNews.com assumed coverage on shares of Wingstop in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Wedbush dropped their price objective on Wingstop from $135.00 to $125.00 in a research note on Thursday, May 5th. Piper Sandler lowered shares of Wingstop from an “overweight” rating to an “underweight” rating in a research report on Friday, March 18th. Finally, Royal Bank of Canada dropped their target price on shares of Wingstop from $170.00 to $156.00 and set a “sector perform” rating for the company in a research report on Thursday, February 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Wingstop presently has a consensus rating of “Buy” and a consensus price target of $153.61.

Shares of NASDAQ:WING opened at $79.09 on Wednesday. The firm has a market capitalization of $2.36 billion, a PE ratio of 61.79, a P/E/G ratio of 4.76 and a beta of 1.40. Wingstop has a twelve month low of $72.19 and a twelve month high of $187.35. The company has a 50-day moving average price of $104.30 and a two-hundred day moving average price of $139.65.

Wingstop (NASDAQ:WINGGet Rating) last issued its earnings results on Wednesday, May 4th. The restaurant operator reported $0.34 earnings per share 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 business had revenue of $76.20 million for the quarter, compared to the consensus estimate of $86.16 million. During the same quarter in the prior year, the business earned $0.44 EPS. Wingstop’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts expect that Wingstop will post 1.55 EPS for the current year.

In other Wingstop news, insider Donnie Upshaw sold 780 shares of the stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of $154.75, for a total value of $120,705.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles R. Morrison sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $136.50, for a total value of $136,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 3,209 shares of company stock valued at $451,593. 0.64% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Manchester Capital Management LLC raised its holdings in shares of Wingstop by 1,400.0% during the third quarter. Manchester Capital Management LLC now owns 150 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Pinebridge Investments L.P. bought a new position in shares of Wingstop during the fourth quarter valued at approximately $69,000. Fifth Third Bancorp raised its holdings in shares of Wingstop by 11.1% during the fourth quarter. Fifth Third Bancorp now owns 821 shares of the restaurant operator’s stock valued at $142,000 after acquiring an additional 82 shares in the last quarter. Gladius Capital Management LP raised its stake in Wingstop by 20.2% in the first 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 in the last quarter. Finally, Lindbrook Capital LLC raised its stake in Wingstop by 641.3% in the fourth quarter. Lindbrook Capital LLC now owns 897 shares of the restaurant operator’s stock worth $155,000 after buying an additional 776 shares in the last quarter.

About Wingstop (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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