BMO Capital Markets Issues Pessimistic Forecast for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its target price lowered by equities research analysts at BMO Capital Markets from $345.00 to $280.00 in a research note issued on Wednesday, MarketBeat reports. The brokerage currently has a “market perform” rating on the restaurant operator’s stock. BMO Capital Markets’ price target indicates a potential upside of 14.47% from the company’s current price.

WING has been the subject of a number of other research reports. Citigroup raised their price objective on Wingstop from $296.00 to $321.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Mizuho upgraded Wingstop to a “strong-buy” rating in a report on Tuesday, October 28th. Raymond James Financial reiterated a “strong-buy” rating and issued a $350.00 price target (down previously from $420.00) on shares of Wingstop in a research note on Thursday, October 16th. Royal Bank Of Canada began coverage on shares of Wingstop in a research report on Wednesday, October 8th. They set an “outperform” rating and a $315.00 price objective on the stock. Finally, Sanford C. Bernstein reduced their price objective on shares of Wingstop from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Wingstop currently has a consensus rating of “Moderate Buy” and a consensus target price of $335.96.

Wingstop Price Performance

Shares of NASDAQ WING opened at $244.60 on Wednesday. Wingstop has a 1 year low of $204.00 and a 1 year high of $388.14. The firm has a 50-day moving average of $261.79 and a 200 day moving average of $300.35. The stock has a market cap of $6.80 billion, a P/E ratio of 39.84, a price-to-earnings-growth ratio of 3.52 and a beta of 1.73.

Wingstop (NASDAQ:WING) last announced its earnings results on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.18. Wingstop had a net margin of 25.51% and a negative return on equity of 16.17%. The business had revenue of $175.74 million during the quarter, compared to the consensus estimate of $189.10 million. During the same quarter last year, the firm earned $0.88 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts expect that Wingstop will post 4.18 earnings per share for the current fiscal year.

Institutional Trading of Wingstop

A number of large investors have recently made changes to their positions in the stock. CBIZ Investment Advisory Services LLC raised its holdings in shares of Wingstop by 54.3% during the third quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock valued at $36,000 after purchasing an additional 50 shares during the last quarter. Wesbanco Bank Inc. grew its position in Wingstop by 61.2% in the 3rd quarter. Wesbanco Bank Inc. now owns 7,900 shares of the restaurant operator’s stock worth $1,988,000 after purchasing an additional 3,000 shares during the period. Oppenheimer Asset Management Inc. grew its position in Wingstop by 7.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,668 shares of the restaurant operator’s stock worth $2,685,000 after purchasing an additional 746 shares during the period. Smartleaf Asset Management LLC raised its stake in Wingstop by 75.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 204 shares of the restaurant operator’s stock valued at $51,000 after buying an additional 88 shares during the last quarter. Finally, Ranger Investment Management L.P. raised its stake in Wingstop by 33.9% during the 3rd quarter. Ranger Investment Management L.P. now owns 82,755 shares of the restaurant operator’s stock valued at $20,828,000 after buying an additional 20,930 shares during the last quarter.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.