TD Cowen Issues Pessimistic Forecast for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its price objective reduced by research analysts at TD Cowen from $450.00 to $365.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. TD Cowen’s target price would indicate a potential upside of 22.92% from the stock’s current price.

WING has been the subject of a number of other research reports. Raymond James upgraded shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Thursday, August 1st. Barclays raised their price target on Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley upped their price objective on Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. Wedbush raised their target price on Wingstop from $425.00 to $440.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Finally, BTIG Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target on the stock in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $370.85.

Wingstop Trading Up 3.2 %

Shares of WING stock opened at $296.94 on Thursday. The company has a market capitalization of $8.70 billion, a P/E ratio of 86.57, a price-to-earnings-growth ratio of 2.74 and a beta of 1.71. The business’s 50 day moving average is $388.10 and its two-hundred day moving average is $387.14. Wingstop has a twelve month low of $196.54 and a twelve month high of $433.86.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm had revenue of $162.50 million during the quarter, compared to analysts’ expectations of $160.24 million. During the same quarter last year, the business earned $0.69 earnings per share. The business’s quarterly revenue was up 38.8% on a year-over-year basis. As a group, equities analysts predict that Wingstop will post 3.81 earnings per share for the current fiscal year.

Insider Activity

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the transaction, the senior vice president now owns 97 shares of the company’s stock, valued at $36,152.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WING. Hollencrest Capital Management acquired a new position in Wingstop during the second quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Wingstop during the 2nd quarter valued at $34,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after buying an additional 35 shares during the period. V Square Quantitative Management LLC increased its holdings in shares of Wingstop by 60.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after buying an additional 40 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Wingstop by 384.6% in the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after buying an additional 100 shares during the period.

Wingstop Company Profile

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.