Morgan Stanley cut shares of Wingstop (NASDAQ:WING) from an overweight rating to an equal weight rating in a report published on Thursday, Marketbeat reports. They currently have $69.00 target price on the restaurant operator’s stock. The analysts noted that the move was a valuation call.

Other research analysts have also issued reports about the stock. Stifel Nicolaus raised their price objective on shares of Wingstop from $58.00 to $80.00 and gave the stock a buy rating in a report on Monday, August 27th. Wedbush reaffirmed an outperform rating and issued a $70.00 price target (up from $59.00) on shares of Wingstop in a report on Wednesday, August 22nd. They noted that the move was a valuation call. TheStreet raised shares of Wingstop from a c+ rating to a b rating in a research note on Friday, July 13th. Jefferies Financial Group reissued a sell rating and set a $42.00 target price on shares of Wingstop in a research note on Friday, July 13th. Finally, Robert W. Baird boosted their target price on shares of Wingstop from $53.00 to $65.00 and gave the company a neutral rating in a research note on Friday, October 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $64.63.

Wingstop stock traded down $0.41 during midday trading on Thursday, hitting $70.95. 23,712 shares of the stock were exchanged, compared to its average volume of 544,071. Wingstop has a 1 year low of $31.53 and a 1 year high of $75.58. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 96.53, a price-to-earnings-growth ratio of 4.49 and a beta of 1.03. The company has a debt-to-equity ratio of -1.53, a current ratio of 0.68 and a quick ratio of 0.68.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Thursday, August 2nd. The restaurant operator reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The company had revenue of $37.04 million during the quarter, compared to analyst estimates of $36.92 million. Wingstop had a net margin of 22.15% and a negative return on equity of 24.63%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. Analysts forecast that Wingstop will post 0.85 earnings per share for the current fiscal year.

In related news, Chairman Charles R. Morrison sold 17,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $60.13, for a total transaction of $1,022,210.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stacy Peterson sold 3,437 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $66.05, for a total transaction of $227,013.85. Following the completion of the transaction, the insider now owns 38,339 shares of the company’s stock, valued at approximately $2,532,290.95. The disclosure for this sale can be found here. Insiders sold 31,596 shares of company stock valued at $1,966,570 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Carillon Tower Advisers Inc. bought a new stake in Wingstop during the 2nd quarter worth about $26,830,000. Eagle Asset Management Inc. raised its holdings in Wingstop by 507.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 589,838 shares of the restaurant operator’s stock worth $30,742,000 after buying an additional 492,786 shares during the period. OppenheimerFunds Inc. acquired a new stake in Wingstop during the 2nd quarter worth approximately $15,363,000. BlackRock Inc. grew its stake in shares of Wingstop by 7.9% during the 2nd quarter. BlackRock Inc. now owns 4,027,863 shares of the restaurant operator’s stock worth $209,932,000 after acquiring an additional 293,311 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Wingstop by 567.9% during the 2nd quarter. Renaissance Technologies LLC now owns 247,800 shares of the restaurant operator’s stock worth $12,915,000 after acquiring an additional 210,700 shares in the last quarter.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.

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Analyst Recommendations for Wingstop (NASDAQ:WING)

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