Royal Bank Of Canada Cuts Wingstop (NASDAQ:WING) Price Target to $150.00

Wingstop (NASDAQ:WING) had its price objective dropped by analysts at Royal Bank Of Canada from $200.00 to $150.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 43.71% from the company’s previous close.

WING has been the subject of several other reports. Wells Fargo & Company cut their price objective on shares of Wingstop from $170.00 to $165.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Stephens reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of Wingstop in a report on Thursday, July 30th. Piper Sandler set a $173.00 target price on shares of Wingstop in a research report on Wednesday, July 29th. TD Cowen decreased their price target on shares of Wingstop from $160.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, September 11th. Finally, Weiss Ratings lowered shares of Wingstop from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $238.48.

Wingstop Price Performance

WING stock opened at $104.37 on Thursday. The company has a fifty day moving average price of $123.27 and a two-hundred day moving average price of $152.90. Wingstop has a one year low of $100.13 and a one year high of $302.80. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 1.20 and a beta of 1.79.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.16. The company had revenue of $185.56 million for the quarter, compared to analyst estimates of $190.25 million. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. Research analysts anticipate that Wingstop will post 4.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WING. Allworth Financial LP bought a new position in shares of Wingstop in the 2nd quarter valued at $34,000. Harbor Investment Advisory LLC acquired a new stake in Wingstop in the second quarter valued at about $46,000. Employees Retirement System of Texas acquired a new stake in Wingstop in the fourth quarter valued at about $71,000. Global Retirement Partners LLC bought a new position in Wingstop in the second quarter valued at about $62,000. Finally, GAMMA Investing LLC raised its stake in Wingstop by 35.9% during the second quarter. GAMMA Investing LLC now owns 382 shares of the restaurant operator’s stock worth $66,000 after acquiring an additional 101 shares in the last quarter.

About Wingstop

Wingstop Inc is a fast-casual restaurant company specializing in cooked-to-order chicken wings and tenders. Its menu also includes fries, seasoned fries, dipping sauces, and beverages, with offerings built around a range of signature flavors and sauces. The company primarily operates through a franchise-based model.

Wingstop was founded in 1994 in Garland, Texas, and has expanded from its original location into a global restaurant brand. Its restaurants serve customers across the United States and in international markets through a network of franchised and company-operated locations.

Wingstop became a publicly traded company in 2015.