Wingstop (NASDAQ:WING) Stock Price Target Cut by Mizuho

Key Points

• Mizuho lowered Wingstop’s price target from $240 to $200 but maintained an “outperform” rating, implying approximately 65% upside from the stock’s $120.87 price.
• Analyst sentiment remains broadly positive: Wingstop has a consensus “Moderate Buy” rating and an average price target of $228.96, despite several recent target reductions.
• Wingstop exceeded quarterly EPS expectations, reporting $1.18 versus the $1.02 consensus, while revenue reached $185.56 million and increased 6.5% year over year but fell short of estimates.

Wingstop (NASDAQ:WING - Get Free Report) had its target price lowered by equities researchers at Mizuho from $240.00 to $200.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an "outperform" rating on the restaurant operator's stock. Mizuho's target price indicates a potential upside of 65.47% from the company's current price.

A number of other brokerages also recently issued reports on WING. Piper Sandler set a $173.00 price target on Wingstop in a report on Wednesday, July 29th. Sanford C. Bernstein cut shares of Wingstop from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $220.00 to $155.00 in a research report on Monday, August 3rd. Stephens reaffirmed an "overweight" rating and set a $200.00 price objective on shares of Wingstop in a research report on Thursday, July 30th. Raymond James Financial reiterated 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. Finally, BTIG Research cut their price objective on shares of Wingstop from $305.00 to $265.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Wingstop presently has an average rating of "Moderate Buy" and a consensus price target of $228.96.

Wingstop Price Performance

Shares of NASDAQ:WING opened at $120.87 on Friday. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 1.44 and a beta of 1.81. The firm has a fifty day moving average price of $113.10 and a two-hundred day moving average price of $138.13. Wingstop has a one year low of $95.82 and a one year high of $302.80.

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

Hedge Funds Weigh In On Wingstop

A number of hedge funds have recently bought and sold shares of the business. Baypointe Partners LLC purchased a new stake in shares of Wingstop during the 3rd quarter valued at about $527,000. Fifth Third Wealth Advisors LLC purchased a new position in shares of Wingstop during the third quarter valued at approximately $205,000. Lake Street Private Wealth LLC raised its holdings in shares of Wingstop by 41.1% during the third quarter. Lake Street Private Wealth LLC now owns 5,925 shares of the restaurant operator's stock valued at $624,000 after purchasing an additional 1,725 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Wingstop by 13.1% during the third quarter. Crossmark Global Holdings Inc. now owns 2,194 shares of the restaurant operator's stock valued at $231,000 after purchasing an additional 254 shares during the period. Finally, B.A. Schrock Wealth Management Inc. bought a new position in Wingstop during the third quarter valued at approximately $4,685,000.

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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