Royal Bank Of Canada Cuts Wingstop (NASDAQ:WING) Price Target to $150.00

Wingstop (NASDAQ:WING) had its price objective reduced by Royal Bank Of Canada from $200.00 to $150.00 in a research note released on Thursday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the restaurant operator’s stock.

A number of other analysts also recently issued reports on the stock. Robert W. Baird upgraded shares of Wingstop to a “strong-buy” rating in a report on Monday, August 24th. Benchmark lowered their price objective on Wingstop from $285.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Sanford C. Bernstein downgraded shares of Wingstop from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $220.00 to $155.00 in a report on Monday, August 3rd. Stephens reiterated an “overweight” rating and set a $200.00 target price on shares of Wingstop in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Wingstop from a “sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $236.44.

Wingstop Trading Up 0.3%

WING stock opened at $104.08 on Thursday. The stock has a market cap of $2.84 billion, a P/E ratio of 24.72, a P/E/G ratio of 1.24 and a beta of 1.79. The stock’s fifty day simple moving average is $121.21 and its two-hundred day simple moving average is $151.47. Wingstop has a 1-year low of $100.13 and a 1-year high of $302.80.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.16. The firm had revenue of $185.56 million during the quarter, compared to analyst estimates of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The business’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.00 EPS. As a group, analysts forecast that Wingstop will post 4.5 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 5th. Investors of record on Saturday, August 15th were issued a dividend of $0.33 per share. This is a positive change from Wingstop’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. Wingstop’s payout ratio is currently 31.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WING. Sequoia Financial Advisors LLC purchased a new position in Wingstop during the second quarter valued at approximately $246,000. Tidal Investments LLC lifted its stake in Wingstop by 48.7% in the 2nd quarter. Tidal Investments LLC now owns 2,235 shares of the restaurant operator’s stock worth $388,000 after purchasing an additional 732 shares in the last quarter. Darsana Capital Partners LP lifted its stake in Wingstop by 20.0% in the 2nd quarter. Darsana Capital Partners LP now owns 1,500,000 shares of the restaurant operator’s stock worth $260,115,000 after purchasing an additional 250,000 shares in the last quarter. Nykredit A S bought a new position in Wingstop in the 2nd quarter valued at $152,000. Finally, Corient Private Wealth LP boosted its holdings in Wingstop by 43.5% in the 2nd quarter. Corient Private Wealth LP now owns 1,965 shares of the restaurant operator’s stock valued at $341,000 after purchasing an additional 596 shares during the period.

Wingstop Company Profile

Wingstop Inc is a fast-casual restaurant company specializing in cooked-to-order chicken wings and tenders. Its menu also includes fries, seasoned fries, dipping sauces, and beverages, with offerings built around a range of signature flavors and sauces. The company primarily operates through a franchise-based model.

Wingstop was founded in 1994 in Garland, Texas, and has expanded from its original location into a global restaurant brand. Its restaurants serve customers across the United States and in international markets through a network of franchised and company-operated locations.

Wingstop became a publicly traded company in 2015.