Wingstop (NASDAQ:WING) Sets New 52-Week Low – Here’s Why

Wingstop Inc. (NASDAQ:WING) shares reached a new 52-week low on Wednesday . The company traded as low as $192.48 and last traded at $190.27, with a volume of 40910 shares. The stock had previously closed at $198.08.

Analyst Upgrades and Downgrades

WING has been the subject of several recent research reports. Morgan Stanley dropped their price target on shares of Wingstop from $363.00 to $345.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Stephens reaffirmed an “overweight” rating and set a $375.00 price objective on shares of Wingstop in a report on Thursday, February 19th. Wolfe Research initiated coverage on Wingstop in a report on Monday, March 9th. They issued an “outperform” rating and a $320.00 target price for the company. Barclays cut their target price on Wingstop from $335.00 to $330.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, DA Davidson started coverage on Wingstop in a research note on Friday, March 6th. They issued a “buy” rating and a $330.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $337.29.

Wingstop Trading Down 3.5%

The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 30.86, a P/E/G ratio of 2.17 and a beta of 1.82. The firm has a fifty day simple moving average of $253.36 and a 200-day simple moving average of $254.33.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.16. The firm had revenue of $175.69 million during the quarter, compared to analyst estimates of $177.74 million. Wingstop had a net margin of 25.01% and a negative return on equity of 16.12%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 EPS. On average, equities analysts predict that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be issued a $0.30 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.20 annualized dividend and a yield of 0.6%. Wingstop’s dividend payout ratio (DPR) is 19.42%.

Insider Activity

In other news, Director Kilandigalu Madati sold 2,700 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $260.73, for a total value of $703,971.00. Following the completion of the transaction, the director owned 2,583 shares in the company, valued at $673,465.59. This represents a 51.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wesley S. Mcdonald sold 566 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $250.00, for a total transaction of $141,500.00. Following the completion of the transaction, the director owned 4,375 shares of the company’s stock, valued at $1,093,750. This trade represents a 11.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Wingstop

Institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC increased its holdings in Wingstop by 1,650.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 99 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Wingstop by 76.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 60 shares in the last quarter. Rakuten Securities Inc. boosted its position in shares of Wingstop by 197.9% during the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock worth $34,000 after buying an additional 95 shares during the period. CBIZ Investment Advisory Services LLC boosted its position in shares of Wingstop by 54.3% during the third quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock worth $36,000 after buying an additional 50 shares during the period. Finally, GW&K Investment Management LLC grew its holdings in shares of Wingstop by 75.7% during the fourth quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock worth $45,000 after buying an additional 81 shares in the last quarter.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.