Zacks Investment Research upgraded shares of Wingstop (NASDAQ:WING) from a hold rating to a strong-buy rating in a research note published on Friday, February 2nd. Zacks Investment Research currently has $55.00 price target 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. “
WING has been the topic of a number of other reports. Robert W. Baird reaffirmed a buy rating and set a $39.00 price objective on shares of Wingstop in a research report on Monday, October 9th. Deutsche Bank started coverage on Wingstop in a report on Monday, December 18th. They issued a hold rating and a $38.00 price target on the stock. Stifel Nicolaus raised Wingstop from a hold rating to a buy rating and lifted their price objective for the stock from $35.00 to $40.00 in a research note on Friday, November 3rd. Longbow Research started coverage on Wingstop in a research note on Friday, October 13th. They issued a neutral rating on the stock. Finally, Wedbush downgraded Wingstop from an outperform rating to a neutral rating and boosted their target price for the company from $36.00 to $40.00 in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $45.50.
Shares of Wingstop (NASDAQ:WING) opened at $45.15 on Friday. The stock has a market capitalization of $1,313.64, a PE ratio of 62.71, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01. Wingstop has a 52 week low of $24.74 and a 52 week high of $49.69. The company has a debt-to-equity ratio of -2.37, a quick ratio of 0.89 and a current ratio of 0.89.
The company also recently disclosed a None dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Friday, February 9th will be issued a $3.17 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This is a positive change from Wingstop’s previous None dividend of $0.07. This represents a dividend yield of 0.065849605317823%. Wingstop’s dividend payout ratio is currently 19.44%.
In related news, Director Michael J. Hislop sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $41.03, for a total transaction of $205,150.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Morrison sold 1,476 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $48.13, for a total value of $71,039.88. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC lifted its position in shares of Wingstop by 66.5% in the second quarter. Riverhead Capital Management LLC now owns 3,496 shares of the restaurant operator’s stock valued at $108,000 after acquiring an additional 1,396 shares in the last quarter. Pinebridge Investments L.P. lifted its position in shares of Wingstop by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 3,818 shares of the restaurant operator’s stock valued at $118,000 after acquiring an additional 52 shares in the last quarter. Turner Investments LLC purchased a new position in shares of Wingstop in the third quarter valued at approximately $150,000. Piedmont Investment Advisors LLC purchased a new position in shares of Wingstop in the third quarter valued at approximately $210,000. Finally, First Mercantile Trust Co. purchased a new position in shares of Wingstop in the fourth quarter valued at approximately $223,000.
Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company. As of December 31, 2016, the Company offers its guests 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides.
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