Wingstop Inc. (WING) Shares Up 3.3%
Wingstop Inc. (NASDAQ:WING) shares shot up 3.3% during mid-day trading on Friday . The stock traded as high as $31.26 and last traded at $31.10, with a volume of 117,476 shares traded. The stock had previously closed at $30.12.
Several brokerages have issued reports on WING. Goldman Sachs Group Inc. raised their price objective on shares of Wingstop from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Zacks Investment Research raised shares of Wingstop from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Wedbush reissued an “outperform” rating and set a $36.00 price objective (up from $35.00) on shares of Wingstop in a research report on Monday. Robert W. Baird reissued an “outperform” rating and set a $33.00 price objective on shares of Wingstop in a research report on Monday, August 8th. Finally, Morgan Stanley reissued a “buy” rating and set a $38.00 price objective on shares of Wingstop in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Wingstop presently has an average rating of “Buy” and an average target price of $31.73.
The company has a market capitalization of $898.90 million and a PE ratio of 59.60. The company’s 50 day moving average is $28.89 and its 200 day moving average is $26.19.
Wingstop (NASDAQ:WING) last released its earnings results on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The business had revenue of $22.70 million for the quarter, compared to the consensus estimate of $22.05 million. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 EPS. On average, equities analysts forecast that Wingstop Inc. will post $0.56 EPS for the current fiscal year.
In other Wingstop news, COO William Engen sold 4,340 shares of the business’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $25.85, for a total transaction of $112,189.00. Following the completion of the sale, the chief operating officer now owns 11,200 shares in the company, valued at $289,520. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Neal K. Aronson sold 6,000,000 shares of the business’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $28.50, for a total transaction of $171,000,000.00. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Wingstop stock. Wells Fargo & Company MN raised its stake in shares of Wingstop Inc. (NASDAQ:WING) by 25.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 437,661 shares of the company’s stock after buying an additional 88,254 shares during the period. Wells Fargo & Company MN owned about 1.53% of Wingstop worth $9,984,000 as of its most recent SEC filing.
Wingstop Inc (Wingstop) is a franchisor and operator of restaurants that specializes in hand-sauced and tossed chicken wings. The Company offers around 11 flavors on its bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides made fresh daily. The Company operates business through two segments, which include Franchise segment and Company segment.
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