Wingstop (NASDAQ:WING – Get Free Report) had its target price reduced by stock analysts at TD Cowen from $160.00 to $120.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the restaurant operator’s stock. TD Cowen’s target price points to a potential upside of 8.58% from the company’s previous close.
Other equities research analysts have also recently issued reports about the company. Mizuho cut their target price on Wingstop from $280.00 to $240.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Wells Fargo & Company lowered their price target on Wingstop from $170.00 to $165.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Robert W. Baird upgraded shares of Wingstop to a “strong-buy” rating in a research note on Monday, August 24th. BTIG Research cut their price objective on shares of Wingstop from $305.00 to $265.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Wingstop in a report on Tuesday, July 14th. Two equities 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 two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $240.33.
Get Our Latest Stock Analysis on WING
Wingstop Stock Performance
Wingstop (NASDAQ:WING – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The firm had revenue of $185.56 million for the quarter, compared to analysts’ expectations of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 EPS. On average, analysts forecast that Wingstop will post 4.5 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Wingstop
A number of hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC purchased a new stake in shares of Wingstop during the 2nd quarter valued at about $246,000. Tidal Investments LLC raised its holdings in shares of Wingstop by 48.7% during the second quarter. Tidal Investments LLC now owns 2,235 shares of the restaurant operator’s stock valued at $388,000 after purchasing an additional 732 shares during the last quarter. Darsana Capital Partners LP raised its holdings in shares of Wingstop by 20.0% during the second quarter. Darsana Capital Partners LP now owns 1,500,000 shares of the restaurant operator’s stock valued at $260,115,000 after purchasing an additional 250,000 shares during the last quarter. Nykredit A S bought a new position in Wingstop during the second quarter valued at approximately $152,000. Finally, Corient Private Wealth LP lifted its position in Wingstop by 43.5% during the second quarter. Corient Private Wealth LP now owns 1,965 shares of the restaurant operator’s stock valued at $341,000 after purchasing an additional 596 shares during the period.
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.
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