Cowen and Company restated their outperform rating on shares of Wingstop Inc. (NASDAQ:WING) in a research report released on Saturday morning. They currently have a $37.00 target price on the restaurant operator’s stock.
WING has been the subject of several other reports. BidaskClub upgraded Wingstop from a hold rating to a buy rating in a report on Tuesday, August 22nd. Zacks Investment Research upgraded Wingstop from a sell rating to a hold rating in a report on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) raised Wingstop from a buy rating to a conviction-buy rating and set a $36.00 price objective on the stock in a research report on Tuesday, May 23rd. Barclays PLC reaffirmed an equal weight rating and set a $34.00 price objective (up from $32.00) on shares of Wingstop in a research report on Friday, August 4th. Finally, Wedbush reaffirmed a buy rating on shares of Wingstop in a research report on Friday, August 4th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $34.25.
Wingstop (WING) traded up 0.51% during trading on Friday, reaching $33.78. 667,907 shares of the company’s stock were exchanged. Wingstop has a 12 month low of $24.74 and a 12 month high of $34.10. The stock has a market cap of $982.05 million, a PE ratio of 52.70 and a beta of 0.58. The firm has a 50 day moving average of $33.37 and a 200-day moving average of $30.31.
Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Thursday, August 3rd. The restaurant operator reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.03. Wingstop had a negative return on equity of 28.04% and a net margin of 19.28%. The firm had revenue of $24.70 million during the quarter, compared to the consensus estimate of $24.61 million. During the same period last year, the company earned $0.15 earnings per share. On average, equities research analysts anticipate that Wingstop will post $0.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Sunday, September 3rd will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.83%. Wingstop’s dividend payout ratio (DPR) is presently 10.94%.
In related news, Chairman Charles R. Morrison sold 25,000 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $34.71, for a total transaction of $867,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stacy Peterson sold 11,557 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $34.60, for a total value of $399,872.20. The disclosure for this sale can be found here. Company insiders own 1.76% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Wingstop by 200,013.0% in the first quarter. BlackRock Inc. now owns 3,473,961 shares of the restaurant operator’s stock worth $98,242,000 after purchasing an additional 3,472,225 shares during the last quarter. Pier Capital LLC purchased a new position in Wingstop in the second quarter worth about $7,703,000. Goldman Sachs Group Inc. boosted its position in Wingstop by 8.1% in the first quarter. Goldman Sachs Group Inc. now owns 929,958 shares of the restaurant operator’s stock worth $26,300,000 after purchasing an additional 69,697 shares during the last quarter. Cadence Capital Management LLC boosted its position in Wingstop by 85.2% in the second quarter. Cadence Capital Management LLC now owns 18,300 shares of the restaurant operator’s stock worth $565,000 after purchasing an additional 8,420 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Wingstop by 1.4% in the first quarter. Arizona State Retirement System now owns 15,000 shares of the restaurant operator’s stock worth $424,000 after purchasing an additional 200 shares during the last quarter.
Wingstop Company Profile
Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company. As of December 31, 2016, the Company offers its guests 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides.
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