Royal Bank Of Canada Has Lowered Expectations for Wingstop (NASDAQ:WING) Stock Price
by Teresa Graham · The Cerbat GemWingstop (NASDAQ:WING – Get Free Report) had its price target reduced by equities researchers at Royal Bank Of Canada from $340.00 to $275.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 40.06% from the company’s current price.
A number of other equities research analysts have also weighed in on the stock. Citigroup raised shares of Wingstop from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $286.00 to $230.00 in a report on Tuesday, April 7th. Guggenheim decreased their price objective on Wingstop from $315.00 to $255.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. BNP Paribas Exane started coverage on Wingstop in a report on Monday, March 30th. They set an “outperform” rating and a $275.00 target price on the stock. Benchmark decreased their price target on Wingstop from $320.00 to $285.00 and set a “buy” rating for the company in a research note on Monday. Finally, TD Cowen cut their price objective on Wingstop from $285.00 to $175.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $308.31.
Get Our Latest Research Report on WING
Wingstop Stock Performance
Wingstop stock opened at $196.34 on Monday. The stock has a 50-day moving average price of $207.90 and a two-hundred day moving average price of $237.79. Wingstop has a 12 month low of $142.24 and a 12 month high of $388.14. The company has a market capitalization of $5.36 billion, a PE ratio of 31.77, a P/E/G ratio of 2.21 and a beta of 2.03.
Wingstop (NASDAQ:WING – Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.16. Wingstop had a negative return on equity of 16.12% and a net margin of 25.01%.The company had revenue of $175.69 million for the quarter, compared to analysts’ expectations of $177.74 million. During the same period in the previous year, the business posted $0.92 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts predict that Wingstop will post 4.18 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Kilandigalu Madati sold 2,700 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $260.73, for a total transaction of $703,971.00. Following the transaction, the director owned 2,583 shares in the company, valued at $673,465.59. The trade was a 51.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wesley S. Mcdonald sold 566 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $250.00, for a total transaction of $141,500.00. Following the completion of the sale, the director owned 4,375 shares of the company’s stock, valued at $1,093,750. The trade was a 11.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.53% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Wingstop
Hedge funds have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its holdings in shares of Wingstop by 1,650.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 99 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Wingstop by 76.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 60 shares in the last quarter. Rakuten Securities Inc. raised its holdings in Wingstop by 197.9% during the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock worth $34,000 after buying an additional 95 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of Wingstop by 54.3% in the third quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 50 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its stake in shares of Wingstop by 75.7% in the fourth quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock valued at $45,000 after buying an additional 81 shares in the last quarter.
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.