Wingstop (NASDAQ:WING) Price Target Lowered to $240.00 at Mizuho

Key Points

• Mizuho lowered its price target on Wingstop from $280 to $240 while keeping an “outperform” rating, implying sizable upside from the current share price.
• Other analysts have also cut targets recently, though the overall Wall Street view remains constructive: the consensus rating is “Moderate Buy” with an average price target of $255.81.
• Wingstop shares were down 2.4% and opened at $134.86, even as the company recently posted quarterly EPS of $1.18, beating estimates despite revenue coming in slightly below expectations.

Wingstop (NASDAQ:WING - Get Free Report) had its price target decreased by equities researchers at Mizuho from $280.00 to $240.00 in a note issued to investors on Friday. The firm presently has an "outperform" rating on the restaurant operator's stock. Mizuho's price objective would indicate a potential upside of 77.96% from the company's current price.

WING has been the topic of several other research reports. Royal Bank Of Canada dropped their target price on shares of Wingstop from $250.00 to $225.00 and set an "outperform" rating on the stock in a report on Tuesday, June 23rd. Stephens set a $200.00 price objective on Wingstop in a research report on Tuesday. Benchmark dropped their target price on Wingstop from $320.00 to $285.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Stifel Nicolaus cut their price target on Wingstop from $325.00 to $250.00 and set a "buy" rating for the company in a research note on Thursday, March 26th. Finally, Piper Sandler raised shares of Wingstop from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $283.00 to $190.00 in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $255.81.

Wingstop Trading Down 2.4%

Wingstop stock opened at $134.86 on Friday. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 1.65 and a beta of 1.79. The stock has a fifty day simple moving average of $151.62 and a two-hundred day simple moving average of $193.22. Wingstop has a 12 month low of $116.35 and a 12 month high of $381.45.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.16. Wingstop had a negative return on equity of 16.22% and a net margin of 15.77%.The firm had revenue of $183.72 million for the quarter, compared to the consensus estimate of $187.82 million. During the same period in the prior year, the company posted $0.99 earnings per share. The company's quarterly revenue was up 7.4% on a year-over-year basis. On average, equities research analysts forecast that Wingstop will post 4.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vident Advisory LLC boosted its position in Wingstop by 3.9% during the 4th quarter. Vident Advisory LLC now owns 959 shares of the restaurant operator's stock valued at $229,000 after acquiring an additional 36 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Wingstop by 17.3% during the 3rd quarter. Allworth Financial LP now owns 265 shares of the restaurant operator's stock worth $67,000 after purchasing an additional 39 shares during the last quarter. YANKCOM Partnership lifted its stake in shares of Wingstop by 10.1% during the 4th quarter. YANKCOM Partnership now owns 426 shares of the restaurant operator's stock worth $102,000 after purchasing an additional 39 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Wingstop by 1.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,628 shares of the restaurant operator's stock valued at $627,000 after purchasing an additional 45 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Wingstop by 1.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 5,672 shares of the restaurant operator's stock valued at $879,000 after purchasing an additional 59 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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