BTIG Research Issues Pessimistic Forecast for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its price objective dropped by investment analysts at BTIG Research from $430.00 to $400.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. BTIG Research’s price objective points to a potential upside of 63.53% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Sanford C. Bernstein lowered their price target on shares of Wingstop from $400.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday. Wolfe Research assumed coverage on Wingstop in a research report on Wednesday, July 9th. They set an “outperform” rating and a $280.00 price objective on the stock. Wells Fargo & Company dropped their target price on Wingstop from $415.00 to $365.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Morgan Stanley reissued an “overweight” rating and set a $363.00 target price on shares of Wingstop in a research report on Tuesday. Finally, Barclays decreased their price target on Wingstop from $330.00 to $295.00 and set an “overweight” rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $335.96.

Wingstop Stock Performance

Shares of WING opened at $244.60 on Wednesday. The stock has a market capitalization of $6.80 billion, a PE ratio of 39.84, a P/E/G ratio of 3.52 and a beta of 1.73. The company’s fifty day moving average is $261.79 and its 200 day moving average is $300.35. Wingstop has a fifty-two week low of $204.00 and a fifty-two week high of $388.14.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Tuesday, November 4th. The restaurant operator reported $1.09 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $189.10 million. During the same quarter last year, the business earned $0.88 earnings per share. Wingstop’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, research analysts forecast that Wingstop will post 4.18 earnings per share for the current year.

Hedge Funds Weigh In On Wingstop

A number of hedge funds have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. bought a new stake in shares of Wingstop during the first quarter valued at approximately $212,672,000. Price T Rowe Associates Inc. MD grew its stake in Wingstop by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator’s stock worth $371,517,000 after purchasing an additional 496,717 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in Wingstop by 130.7% during the 1st quarter. Champlain Investment Partners LLC now owns 631,989 shares of the restaurant operator’s stock worth $142,564,000 after purchasing an additional 358,044 shares during the period. Norges Bank bought a new stake in Wingstop during the 2nd quarter valued at $118,211,000. Finally, Wasatch Advisors LP bought a new stake in Wingstop during the 2nd quarter valued at $114,758,000.

Wingstop Company Profile

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.