Wingstop (NASDAQ:WING) Lowered to Sell Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Wingstop (NASDAQ:WING – Free Report) from a hold rating to a sell rating in a report released on Saturday.

WING has been the topic of several other research reports. Raymond James Financial upgraded Wingstop from an “outperform” rating to a “strong-buy” rating and set a $420.00 price objective on the stock in a research note on Friday, August 15th. Truist Financial upgraded Wingstop from a “hold” rating to a “buy” rating and upped their price objective for the company from $274.00 to $400.00 in a research note on Tuesday, May 27th. The Goldman Sachs Group increased their target price on Wingstop from $310.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Barclays increased their target price on Wingstop from $410.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, BTIG Research increased their target price on Wingstop from $350.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, June 11th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $380.52.

Get Our Latest Stock Report on WING

Wingstop Trading Up 0.6%

Wingstop stock opened at $267.52 on Friday. Wingstop has a 12 month low of $204.00 and a 12 month high of $433.86. The business’s 50 day simple moving average is $322.16 and its 200 day simple moving average is $294.19. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 44.59, a PEG ratio of 3.34 and a beta of 1.87.

Wingstop (NASDAQ:WING – Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The restaurant operator reported $1.00 EPS for the quarter, beating the consensus estimate of $0.88 by $0.12. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The business had revenue of $174.33 million for the quarter, compared to the consensus estimate of $172.60 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. Wingstop’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities research analysts forecast that Wingstop will post 4.18 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were paid a $0.30 dividend. This is a boost from Wingstop’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, August 15th. Wingstop’s payout ratio is currently 20.00%.

Insider Activity at Wingstop

In related news, CFO Alex Kaleida sold 5,400 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $376.09, for a total value of $2,030,886.00. Following the transaction, the chief financial officer owned 8,362 shares of the company’s stock, valued at $3,144,864.58. This represents a 39.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marisa Carona sold 11,938 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $4,421,118.92. The disclosure for this sale can be found here. Insiders have sold a total of 21,838 shares of company stock valued at $8,118,535 over the last 90 days. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quaker Wealth Management LLC increased its stake in Wingstop by 134.2% in the second quarter. Quaker Wealth Management LLC now owns 104 shares of the restaurant operator’s stock valued at $35,000 after acquiring an additional 408 shares during the last quarter. Ameriflex Group Inc. bought a new position in shares of Wingstop during the second quarter valued at about $43,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Wingstop by 93.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 62 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Wingstop by 4,200.0% during the second quarter. Hantz Financial Services Inc. now owns 129 shares of the restaurant operator’s stock valued at $43,000 after buying an additional 126 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in shares of Wingstop by 62.1% during the fourth quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator’s stock valued at $40,000 after buying an additional 54 shares during the last quarter.

About Wingstop

(Get Free Report)

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.

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