BidaskClub cut shares of Wingstop (NASDAQ:WING) from a buy rating to a hold rating in a research note released on Wednesday.
A number of other research analysts also recently issued reports on WING. Stifel Nicolaus downgraded shares of Wingstop from a buy rating to a hold rating and cut their target price for the company from $80.00 to $75.00 in a research report on Tuesday, October 23rd. Wedbush lowered their target price on Wingstop from $74.00 to $71.00 and set a neutral rating for the company in a research note on Tuesday, October 30th. Finally, Zacks Investment Research downgraded Wingstop from a hold rating to a sell rating in a research report on Tuesday, January 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $65.79.
Shares of NASDAQ WING opened at $66.95 on Wednesday. The stock has a market cap of $2.00 billion, a P/E ratio of 90.47, a P/E/G ratio of 4.03 and a beta of 0.88. Wingstop has a 12-month low of $41.76 and a 12-month high of $75.58.
In related news, Chairman Charles R. Morrison sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $66.33, for a total transaction of $1,326,600.00. Following the completion of the sale, the chairman now owns 123,152 shares in the company, valued at $8,168,672.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lawrence Kruguer sold 2,600 shares of the company’s stock in a transaction on Monday, January 7th. The stock was sold at an average price of $62.41, for a total value of $162,266.00. Following the sale, the insider now owns 5,531 shares of the company’s stock, valued at approximately $345,189.71. The disclosure for this sale can be found here. Insiders have sold 25,263 shares of company stock valued at $1,662,121 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of WING. Bank of New York Mellon Corp lifted its position in shares of Wingstop by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 516,297 shares of the restaurant operator’s stock valued at $26,909,000 after buying an additional 20,377 shares during the last quarter. Northern Trust Corp lifted its position in shares of Wingstop by 8.8% during the 2nd quarter. Northern Trust Corp now owns 368,705 shares of the restaurant operator’s stock valued at $19,216,000 after buying an additional 29,797 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Wingstop by 46.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,100 shares of the restaurant operator’s stock valued at $280,000 after buying an additional 1,300 shares during the last quarter. Seven Eight Capital LP purchased a new stake in Wingstop during the 3rd quarter worth about $1,252,000. Finally, First Trust Advisors LP lifted its holdings in Wingstop by 25.4% during the 3rd quarter. First Trust Advisors LP now owns 126,287 shares of the restaurant operator’s stock worth $8,622,000 after purchasing an additional 25,544 shares in the last quarter.
Wingstop Company Profile
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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