Wingstop (NASDAQ:WING) Stock Gets Price Target Trim from Robert W. Baird

Key Points

• Robert W. Baird lowered Wingstop’s price target from $160 to $150 while maintaining an “outperform” rating, implying approximately 25% upside from the prior close.
• Several analysts have also reduced their targets, but sentiment remains positive: Wingstop has a consensus “Moderate Buy” rating and an average price target of $230.75.
• Wingstop shares opened at $119.95 after an 8% decline, while the company’s latest quarter showed EPS of $1.18—beating estimates—alongside 6.5% year-over-year revenue growth.

Wingstop (NASDAQ:WING - Get Free Report) had its target price decreased by analysts at Robert W. Baird from $160.00 to $150.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the restaurant operator's stock. Robert W. Baird's price target points to a potential upside of 25.05% from the stock's previous close.

WING has been the topic of several other reports. Royal Bank Of Canada cut their price objective on Wingstop from $200.00 to $150.00 and set an "outperform" rating on the stock in a research report on Thursday, September 17th. Wells Fargo & Company lowered their target price on Wingstop from $170.00 to $165.00 and set an "overweight" rating for the company in a research note on Thursday, July 30th. Benchmark lowered their target price on Wingstop from $285.00 to $245.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Stephens restated an "overweight" rating and set a $200.00 price target on shares of Wingstop in a research report on Thursday, July 30th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $185.00 price target (down from $240.00) on shares of Wingstop in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $230.75.

Wingstop Trading Down 8.0%

NASDAQ:WING opened at $119.95 on Thursday. The company has a 50-day moving average price of $112.96 and a 200-day moving average price of $138.36. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 28.49, a P/E/G ratio of 1.57 and a beta of 1.81. Wingstop has a 12 month low of $95.82 and a 12 month high of $302.80.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.16. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. The company had revenue of $185.56 million for the quarter, compared to analysts' expectations of $190.25 million. During the same quarter in the previous year, the company earned $1.00 earnings per share. Wingstop's quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that Wingstop will post 4.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WING. BlackRock Inc. purchased a new position in Wingstop during the second quarter valued at $481,314,000. Darsana Capital Partners LP grew its stake in shares of Wingstop by 20.0% in the second quarter. Darsana Capital Partners LP now owns 1,500,000 shares of the restaurant operator's stock worth $260,115,000 after acquiring an additional 250,000 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Wingstop by 44.5% during the second quarter. Alyeska Investment Group L.P. now owns 942,943 shares of the restaurant operator's stock valued at $163,516,000 after acquiring an additional 290,501 shares in the last quarter. State Street Corp increased its holdings in shares of Wingstop by 2.0% during the second quarter. State Street Corp now owns 863,951 shares of the restaurant operator's stock valued at $149,751,000 after acquiring an additional 16,907 shares in the last quarter. Finally, Jupiter Topco LLC bought a new position in shares of Wingstop during the second quarter valued at $147,440,000.

Wingstop Company Profile

Wingstop Inc is a franchised restaurant company specializing in cooked-to-order chicken wings and related menu items. Its offerings include classic and boneless wings prepared with a range of flavors, along with chicken sandwiches, tenders, fries, seasoned fries, dips, sides and beverages. The company emphasizes made-to-order food, a digital ordering experience and a menu centered on customizable chicken meals.

Founded in 1994 in Garland, Texas, Wingstop has expanded from a single restaurant into a global brand operated primarily through franchised locations.

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