Wingstop (NASDAQ:WING) Given New $200.00 Price Target at DA Davidson

Key Points

• DA Davidson cut Wingstop’s price target from $230 to $200 but kept a buy rating, implying about 48.5% upside from the current share price.
• Other analysts were mixed: several firms lowered their targets, while consensus data from MarketBeat still shows a Moderate Buy rating with an average target price of $257.30.
• Wingstop shares fell 2.5% to $134.68, and the company recently reported better-than-expected EPS of $1.18, though revenue slightly missed estimates.

Wingstop (NASDAQ:WING - Get Free Report) had its target price reduced by stock analysts at DA Davidson from $230.00 to $200.00 in a research report issued to clients and investors on Thursday. The firm currently has a "buy" rating on the restaurant operator's stock. DA Davidson's price target suggests a potential upside of 48.50% from the stock's current price.

A number of other brokerages also recently commented on WING. Stifel Nicolaus dropped their price objective on shares of Wingstop from $325.00 to $250.00 and set a "buy" rating on the stock in a research report on Thursday, March 26th. Wall Street Zen raised Wingstop from a "sell" rating to a "hold" rating in a report on Tuesday, July 14th. Morgan Stanley restated an "overweight" rating and issued a $255.00 price target on shares of Wingstop in a research note on Thursday, April 30th. Wells Fargo & Company lowered their price objective on Wingstop from $200.00 to $170.00 and set an "overweight" rating for the company in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada lowered their price objective on Wingstop from $250.00 to $225.00 and set an "outperform" rating for the company in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $257.30.

Wingstop Trading Down 2.5%

WING stock traded down $3.44 during midday trading on Thursday, hitting $134.68. 113,389 shares of the company's stock were exchanged, compared to its average volume of 1,138,547. The business has a 50-day simple moving average of $151.30 and a two-hundred day simple moving average of $194.08. The stock has a market capitalization of $3.67 billion, a PE ratio of 33.55, a P/E/G ratio of 1.61 and a beta of 1.79. Wingstop has a 1-year low of $116.35 and a 1-year high of $381.45.

Wingstop (NASDAQ:WING - Get Free Report) last posted its earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.16. The firm had revenue of $183.72 million for the quarter, compared to analyst estimates of $187.82 million. Wingstop had a negative return on equity of 16.22% and a net margin of 15.77%.Wingstop's revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. As a group, research analysts expect that Wingstop will post 4.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Wingstop

Hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. lifted its holdings in shares of Wingstop by 76.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator's stock worth $33,000 after purchasing an additional 60 shares during the period. Rakuten Securities Inc. boosted its position in 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 purchasing an additional 95 shares in the last quarter. GW&K Investment Management LLC boosted its position in 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 purchasing an additional 81 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in Wingstop in the second quarter valued at $46,000. Finally, Geneos Wealth Management Inc. grew its holdings in Wingstop by 121.4% in the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator's stock valued at $49,000 after purchasing an additional 119 shares during 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.

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