Robert W. Baird Upgrades Wingstop (NASDAQ:WING) to “Strong-Buy”

Wingstop (NASDAQ:WING) was upgraded by equities research analysts at Robert W. Baird to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts also recently weighed in on WING. Wells Fargo & Company cut their target price on Wingstop from $170.00 to $165.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Guggenheim dropped their target price on shares of Wingstop from $255.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Morgan Stanley reduced their price target on shares of Wingstop from $255.00 to $238.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Barclays lowered their price objective on shares of Wingstop from $330.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, BTIG Research lowered their price target on Wingstop from $305.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.81.

Wingstop Price Performance

Shares of Wingstop stock opened at $113.85 on Monday. The business has a fifty day simple moving average of $140.81 and a two-hundred day simple moving average of $169.05. Wingstop has a 1 year low of $110.44 and a 1 year high of $342.10. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 1.39 and a beta of 1.81.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The company had revenue of $185.56 million during the quarter, compared to analysts’ expectations of $190.25 million. During the same quarter in the previous year, the company posted $1.00 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that Wingstop will post 4.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wingstop

A number of hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its position in shares of Wingstop by 16,825.6% during the 2nd quarter. California State Teachers Retirement System now owns 5,475,941 shares of the restaurant operator’s stock valued at $949,583,000 after acquiring an additional 5,443,588 shares during the period. BlackRock Inc. acquired a new stake in Wingstop in the second quarter worth $481,314,000. Jupiter Topco LLC acquired a new stake in Wingstop in the second quarter worth $147,440,000. Steadfast Capital Management LP increased its stake in Wingstop by 296.2% in the third quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock valued at $239,227,000 after purchasing an additional 710,621 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Wingstop during the 2nd quarter worth about $80,456,000.

About Wingstop

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.