Wingstop (NASDAQ:WING) Issues Earnings Results

Wingstop (NASDAQ:WING) posted its quarterly earnings data on Tuesday. The restaurant operator reported $1.09 EPS for the quarter, topping the consensus estimate of $0.96 by $0.13, Zacks reports. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. During the same quarter last year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis.

Wingstop Price Performance

Shares of WING traded up $26.43 during midday trading on Tuesday, hitting $240.50. The stock had a trading volume of 1,931,824 shares, compared to its average volume of 838,046. Wingstop has a 1 year low of $204.00 and a 1 year high of $388.14. The firm has a market cap of $6.71 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 3.03 and a beta of 1.73. The stock’s 50 day moving average is $267.16 and its 200 day moving average is $300.95.

Analysts Set New Price Targets

Several analysts recently weighed in on WING shares. Stifel Nicolaus reduced their target price on shares of Wingstop from $375.00 to $300.00 and set a “buy” rating on the stock in a report on Friday. Benchmark reduced their target price on shares of Wingstop from $410.00 to $340.00 and set a “buy” rating for the company in a research note on Monday, September 29th. Morgan Stanley dropped their price target on shares of Wingstop from $400.00 to $372.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 15th. Citigroup boosted their price target on shares of Wingstop from $296.00 to $321.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen downgraded shares of Wingstop from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Five research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $354.60.

Institutional Investors Weigh In On Wingstop

Hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. increased its holdings in Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 119 shares during the last quarter. State of Wyoming bought a new position in shares of Wingstop in the second quarter worth $107,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Wingstop by 528.8% in the second quarter. EverSource Wealth Advisors LLC now owns 503 shares of the restaurant operator’s stock worth $169,000 after buying an additional 423 shares during the period. Evergreen Capital Management LLC purchased a new stake in Wingstop in the 2nd quarter worth about $218,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Wingstop in the 2nd quarter worth about $225,000.

About Wingstop

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.