Wingstop (NASDAQ:WING) Upgraded at Robert W. Baird

Key Points

• Robert W. Baird upgraded Wingstop to “strong buy.” Despite the upgrade, the broader analyst consensus remains “Moderate Buy,” with a consensus price target of $241.81.
• Wingstop reported quarterly EPS of $1.18, beating estimates of $1.02, while revenue of $185.56 million fell short of expectations but increased 6.5% year over year.
• Shares opened at $113.85, near the company’s one-year low of $110.44 and well below its one-year high of $342.10; several major investors, including BlackRock, recently initiated or increased positions.

Wingstop (NASDAQ:WING - Get Free Report) was upgraded by stock analysts at Robert W. Baird to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Several other research firms also recently issued reports on WING. Bank of America reduced their price target on Wingstop from $264.00 to $234.00 and set a "buy" rating for the company in a research note on Wednesday, June 24th. Morgan Stanley dropped their target price on Wingstop from $255.00 to $238.00 and set an "overweight" rating for the company in a report on Thursday, July 30th. Mizuho decreased their price target on shares of Wingstop from $280.00 to $240.00 and set an "outperform" rating on the stock in a research note on Friday, July 24th. Piper Sandler set a $173.00 target price on shares of Wingstop in a report on Wednesday, July 29th. Finally, Sanford C. Bernstein cut Wingstop from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $220.00 to $155.00 in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $241.81.

Wingstop Price Performance

Shares of Wingstop stock opened at $113.85 on Monday. The business has a fifty day simple moving average of $140.81 and a two-hundred day simple moving average of $169.05. Wingstop has a 1 year low of $110.44 and a 1 year high of $342.10. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 1.39 and a beta of 1.81.

Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 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 firm had revenue of $185.56 million for the quarter, compared to the consensus estimate of $190.25 million. During the same period in the previous year, the company earned $1.00 earnings per share. The company's quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that Wingstop will post 4.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wingstop

Several large investors have recently bought and sold shares of WING. BlackRock Inc. bought a new position in Wingstop during the second quarter worth $481,314,000. TimesSquare Capital Management LLC bought a new stake in Wingstop during the second quarter valued at $15,874,000. Carnegie Investment Counsel boosted its position in Wingstop by 32.4% during the first quarter. Carnegie Investment Counsel now owns 68,489 shares of the restaurant operator's stock valued at $10,614,000 after acquiring an additional 16,764 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Wingstop during the 2nd quarter worth about $19,130,000. Finally, Kornitzer Capital Management Inc. KS grew its holdings in Wingstop by 113.8% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 11,800 shares of the restaurant operator's stock worth $2,814,000 after acquiring an additional 6,280 shares during the period.

About Wingstop

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source