Wingstop's (WING) Market Perform Rating Reiterated at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein reiterated its “market perform” rating on Wingstop but cut its price target to $155 from $220, implying about 19.7% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $241.81, despite several firms recently lowering targets or downgrading the stock.
• Wingstop’s latest quarter exceeded earnings expectations, reporting $1.18 in EPS versus $1.02 expected, while revenue rose 6.5% year over year to $185.56 million but fell short of estimates.

Wingstop (NASDAQ:WING - Get Free Report)'s stock had its "market perform" rating reiterated by equities research analysts at Sanford C. Bernstein in a report issued on Monday, Marketbeat.com reports. They presently have a $155.00 target price on the restaurant operator's stock, down from their prior target price of $220.00. Sanford C. Bernstein's price objective would indicate a potential upside of 19.70% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. Stephens reiterated an "overweight" rating and set a $200.00 price objective on shares of Wingstop in a research note on Thursday. Barclays cut their price target on shares of Wingstop from $330.00 to $235.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. BTIG Research cut their price objective on Wingstop from $305.00 to $265.00 and set a "buy" rating on the stock in a research note on Thursday. The Goldman Sachs Group downgraded Wingstop from a "buy" rating to a "neutral" rating and lowered their price target for the company from $290.00 to $190.00 in a report on Thursday, April 30th. Finally, Wall Street Zen raised Wingstop from a "sell" rating to a "hold" rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Wingstop has a consensus rating of "Moderate Buy" and a consensus price target of $241.81.

Wingstop Price Performance

Shares of NASDAQ:WING opened at $129.49 on Monday. The company has a market capitalization of $3.53 billion, a P/E ratio of 30.76, a P/E/G ratio of 1.55 and a beta of 1.81. The stock's fifty day simple moving average is $152.11 and its 200-day simple moving average is $187.58. Wingstop has a 52-week low of $116.35 and a 52-week high of $381.45.

Wingstop (NASDAQ:WING - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.16. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The company had revenue of $185.56 million during the quarter, compared to the consensus estimate of $190.25 million. During the same period in the previous year, the firm posted $1.00 EPS. Wingstop's revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that Wingstop will post 4.48 earnings per share for the current year.

Institutional Investors Weigh In On Wingstop

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. increased its position in shares of Wingstop by 76.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator's stock valued at $33,000 after purchasing an additional 60 shares during the period. Rakuten Securities Inc. grew its holdings 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 acquiring an additional 95 shares during the period. GW&K Investment Management LLC raised its position in Wingstop by 75.7% in the fourth quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator's stock worth $45,000 after acquiring an additional 81 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in Wingstop in the 2nd quarter valued at about $46,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Wingstop by 121.4% during the 1st 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 in the last quarter.

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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