Wingstop (WING) Lowered to “Neutral” at BTIG Research

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BTIG Research cut shares of Wingstop (NASDAQ:WING) from a buy rating to a neutral rating in a report published on Tuesday, Marketbeat reports. They currently have $59.00 target price on the restaurant operator’s stock. The analysts noted that the move was a valuation call.

Several other equities research analysts also recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Wingstop from $58.00 to $80.00 and gave the stock a buy rating in a research note on Monday, August 27th. Wedbush reaffirmed an outperform rating and set a $70.00 price target (up previously from $59.00) on shares of Wingstop in a research note on Wednesday, August 22nd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Wingstop from a buy rating to a hold rating in a research note on Wednesday, August 8th. Barclays lifted their price target on shares of Wingstop from $48.00 to $52.00 and gave the stock an equal weight rating in a research note on Monday, August 6th. Finally, Stephens reaffirmed a buy rating and set a $57.00 price target on shares of Wingstop in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $56.14.

Wingstop stock opened at $68.87 on Tuesday. Wingstop has a 12-month low of $31.53 and a 12-month high of $69.23. The firm has a market cap of $1.96 billion, a P/E ratio of 93.07, a PEG ratio of 4.07 and a beta of 1.03. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of -1.53.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Thursday, August 2nd. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Wingstop had a net margin of 22.15% and a negative return on equity of 24.63%. The firm had revenue of $37.04 million for the quarter, compared to the consensus estimate of $36.92 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. equities analysts expect that Wingstop will post 0.84 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th will be issued a dividend of $0.09 per share. This is a positive change from Wingstop’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, August 31st. Wingstop’s dividend payout ratio (DPR) is currently 48.65%.

In other Wingstop news, Chairman Charles R. Morrison sold 11,000 shares of the firm’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $53.02, for a total transaction of $583,220.00. Following the completion of the transaction, the chairman now directly owns 137,152 shares of the company’s stock, valued at approximately $7,271,799.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stacy Peterson sold 5,259 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $58.87, for a total transaction of $309,597.33. Following the transaction, the insider now directly owns 31,423 shares of the company’s stock, valued at $1,849,872.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,808 shares of company stock valued at $2,199,565. 1.76% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of WING. Point72 Asia Hong Kong Ltd boosted its holdings in shares of Wingstop by 1,022.6% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,481 shares of the restaurant operator’s stock valued at $117,000 after buying an additional 2,260 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Wingstop in the 2nd quarter valued at about $118,000. Everence Capital Management Inc. acquired a new position in shares of Wingstop in the 2nd quarter valued at about $212,000. Hartford Investment Management Co. acquired a new position in shares of Wingstop in the 2nd quarter valued at about $228,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of Wingstop in the 1st quarter valued at about $238,000.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.

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