TD Cowen Issues Pessimistic Forecast for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its price target decreased by equities research analysts at TD Cowen from $450.00 to $365.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. TD Cowen’s price objective suggests a potential upside of 22.92% from the company’s current price.

A number of other research analysts have also recently commented on the company. Citigroup upped their price objective on Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Wedbush upped their price target on Wingstop from $425.00 to $440.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. The Goldman Sachs Group increased their price target on Wingstop from $407.00 to $458.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Stephens reduced their price objective on shares of Wingstop from $490.00 to $468.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Morgan Stanley increased their target price on shares of Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 16th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $370.85.

Wingstop Stock Performance

NASDAQ WING opened at $296.94 on Thursday. The stock’s fifty day moving average is $388.10 and its two-hundred day moving average is $387.14. The firm has a market capitalization of $8.70 billion, a P/E ratio of 86.57, a price-to-earnings-growth ratio of 2.74 and a beta of 1.71. Wingstop has a fifty-two week low of $196.54 and a fifty-two week high of $433.86.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. During the same period in the previous year, the firm posted $0.69 EPS. The company’s revenue was up 38.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Wingstop will post 3.81 EPS for the current year.

Insider Transactions at Wingstop

In other news, SVP Donnie Upshaw sold 3,199 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $372.71, for a total value of $1,192,299.29. Following the sale, the senior vice president now directly owns 97 shares in the company, valued at approximately $36,152.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Wingstop

Institutional investors have recently added to or reduced their stakes in the business. State of Michigan Retirement System lifted its position in shares of Wingstop by 2.8% during the 1st quarter. State of Michigan Retirement System now owns 7,272 shares of the restaurant operator’s stock worth $2,664,000 after buying an additional 200 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Wingstop in the first quarter valued at $370,000. Retirement Systems of Alabama grew its holdings in shares of Wingstop by 0.3% during the first quarter. Retirement Systems of Alabama now owns 36,938 shares of the restaurant operator’s stock worth $13,534,000 after purchasing an additional 98 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Wingstop during the first quarter worth about $4,840,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Wingstop by 1,308.1% in the 1st quarter. BNP Paribas Financial Markets now owns 24,951 shares of the restaurant operator’s stock valued at $9,142,000 after purchasing an additional 23,179 shares during the last quarter.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.