Wingstop (WING) Shares Down 8.6%
Wingstop Inc (NASDAQ:WING) fell 8.6% during trading on Thursday . The stock traded as low as $43.83 and last traded at $43.97. 598,272 shares traded hands during trading, an increase of 11% from the average session volume of 540,517 shares. The stock had previously closed at $48.13.
Several research firms recently commented on WING. Zacks Investment Research raised Wingstop from a “hold” rating to a “strong-buy” rating and set a $55.00 price objective on the stock in a research report on Friday, February 2nd. Cowen reaffirmed an “outperform” rating and set a $51.00 price objective (up from $46.00) on shares of Wingstop in a research report on Tuesday. SunTrust Banks set a $52.00 price objective on Wingstop and gave the company a “buy” rating in a research report on Thursday, January 11th. BidaskClub raised Wingstop from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Longbow Research began coverage on Wingstop in a research report on Friday, October 13th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $45.50.
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 has a market capitalization of $1,401.80, a price-to-earnings ratio of 61.07, a price-to-earnings-growth ratio of 3.03 and a beta of 1.01.
In other 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 value of $205,150.00. The transaction was disclosed in a filing with the SEC, which is available at 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 and other institutional investors have recently bought and sold shares of the company. Turner Investments LLC bought a new position in shares of Wingstop in the third quarter worth about $150,000. Piedmont Investment Advisors LLC bought a new position in shares of Wingstop in the third quarter worth about $210,000. First Mercantile Trust Co. bought a new position in shares of Wingstop in the fourth quarter worth about $223,000. Fortaleza Asset Management Inc. raised its stake in shares of Wingstop by 71.0% in the fourth quarter. Fortaleza Asset Management Inc. now owns 5,960 shares of the restaurant operator’s stock worth $232,000 after buying an additional 2,475 shares during the period. Finally, Parametric Portfolio Associates LLC bought a new position in shares of Wingstop in the second quarter worth about $263,000.
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Wingstop Company Profile
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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