Wingstop (NASDAQ:WING) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded Wingstop from “sell” to “hold,” adding to a mixed but generally positive analyst backdrop for the stock.
• Analyst sentiment remains Moderate Buy overall, with 1 Strong Buy, 23 Buy, 5 Hold, and 1 Sell ratings, and a consensus target price of $261.19.
• Wingstop shares were up 0.5% to $154.06, while the company recently reported quarterly EPS of $1.18, beating estimates, though revenue came in slightly below expectations.

Wingstop (NASDAQ:WING - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday.

WING has been the topic of several other research reports. Weiss Ratings lowered Wingstop from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. Morgan Stanley reissued an "overweight" rating and set a $255.00 price objective on shares of Wingstop in a research report on Thursday, April 30th. Wells Fargo & Company reduced their price objective on shares of Wingstop from $225.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. TD Cowen restated a "hold" rating and issued a $160.00 price objective on shares of Wingstop in a report on Thursday, July 9th. Finally, The Goldman Sachs Group cut shares of Wingstop from a "buy" rating to a "neutral" rating and decreased their target price for the company from $290.00 to $190.00 in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Wingstop has a consensus rating of "Moderate Buy" and a consensus target price of $261.19.

Wingstop Stock Up 0.5%

NASDAQ WING opened at $154.06 on Tuesday. The business's fifty day simple moving average is $150.04 and its 200-day simple moving average is $199.25. The firm has a market cap of $4.20 billion, a PE ratio of 38.32, a P/E/G ratio of 1.84 and a beta of 1.79. Wingstop has a 52 week low of $116.35 and a 52 week high of $381.45.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings data 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 net margin of 15.77% and a negative return on equity of 16.22%. The firm had revenue of $183.72 million during the quarter, compared to analyst estimates of $187.82 million. During the same quarter in the prior year, the firm posted $0.99 earnings per share. Wingstop's quarterly revenue was up 7.4% on a year-over-year basis. Research analysts expect that Wingstop will post 4.57 EPS for the current year.

Institutional Investors Weigh In On Wingstop

A number of hedge funds have recently added to or reduced their stakes in the business. Ausbil Investment Management Ltd acquired a new stake in Wingstop in the second quarter valued at approximately $1,085,000. Handelsbanken Fonder AB grew its holdings in Wingstop by 14.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 8,564 shares of the restaurant operator's stock worth $1,485,000 after acquiring an additional 1,100 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Wingstop in the 2nd quarter valued at approximately $18,381,000. GAMMA Investing LLC increased its position in shares of Wingstop by 35.9% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the restaurant operator's stock valued at $66,000 after purchasing an additional 101 shares during the last quarter. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Wingstop in the 2nd quarter valued at $46,000.

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.

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