Zacks Investment Research upgraded shares of Wingstop (NASDAQ:WING) from a hold rating to a buy rating in a research note published on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $98.00 price objective on the restaurant operator’s stock.
According to Zacks, “Wingstop Inc. franchises and operates restaurants. The Company’s operating segment consists of Franchise segment and Company segment. It offers cooked-to-order, hand-sauced and tossed chicken wings. Wingstop Inc. is headquartered in Dallas, Texas. “
A number of other equities research analysts have also recently issued reports on the stock. BidaskClub raised shares of Wingstop from a sell rating to a hold rating in a research note on Saturday. Wedbush reissued a hold rating and issued a $92.00 price target on shares of Wingstop in a research note on Friday, September 20th. Stephens cut shares of Wingstop from an overweight rating to an equal weight rating and set a $93.00 price target on the stock. in a research note on Friday, June 28th. SunTrust Banks lifted their price target on shares of Wingstop to $102.00 and gave the company a buy rating in a research note on Friday, August 2nd. Finally, Goldman Sachs Group started coverage on shares of Wingstop in a research note on Monday, July 29th. They issued a buy rating and a $135.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $94.27.
Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Thursday, August 1st. The restaurant operator reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $48.56 million for the quarter, compared to analysts’ expectations of $47.53 million. Wingstop had a net margin of 11.54% and a negative return on equity of 11.09%. The business’s revenue was up 31.1% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. On average, analysts forecast that Wingstop will post 0.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Thursday, August 29th. This is a boost from Wingstop’s previous quarterly dividend of $0.09. Wingstop’s payout ratio is 52.38%.
In other Wingstop news, CEO Charles R. Morrison sold 1,100 shares of Wingstop stock in a transaction on Friday, August 30th. The shares were sold at an average price of $101.06, for a total transaction of $111,166.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael J. Hislop sold 5,000 shares of Wingstop stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $93.74, for a total transaction of $468,700.00. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its stake in Wingstop by 127.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 22,706 shares of the restaurant operator’s stock worth $1,981,000 after purchasing an additional 12,702 shares during the last quarter. BlackRock Inc. boosted its stake in Wingstop by 1.6% during the 2nd quarter. BlackRock Inc. now owns 4,247,301 shares of the restaurant operator’s stock worth $402,431,000 after purchasing an additional 68,645 shares during the last quarter. Maverick Capital Ltd. boosted its stake in Wingstop by 27.5% during the 2nd quarter. Maverick Capital Ltd. now owns 167,890 shares of the restaurant operator’s stock worth $15,908,000 after purchasing an additional 36,240 shares during the last quarter. Royal Bank of Canada boosted its stake in Wingstop by 2.2% during the 2nd quarter. Royal Bank of Canada now owns 31,840 shares of the restaurant operator’s stock worth $3,018,000 after purchasing an additional 700 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Wingstop by 7.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,044 shares of the restaurant operator’s stock worth $383,000 after purchasing an additional 264 shares during the last quarter.
Wingstop Company Profile
Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.
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