Wingstop (NASDAQ:WING) Now Covered by Royal Bank of Canada

Research analysts at Royal Bank of Canada started coverage on shares of Wingstop (NASDAQ:WING) in a report released on Thursday, The Fly reports. The firm set a “sector perform” rating and a $140.00 price target on the restaurant operator’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 1.77% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Cowen cut their target price on shares of Wingstop from $155.00 to $150.00 and set an “outperform” rating for the company in a research report on Wednesday, March 10th. Wells Fargo & Company upped their target price on shares of Wingstop from $172.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, April 1st. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Wingstop from a “hold” rating to a “sell” rating in a research report on Thursday, March 18th. Morgan Stanley upped their price target on shares of Wingstop from $137.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 19th. Finally, Piper Sandler cut their price target on shares of Wingstop from $187.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, March 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $157.75.

WING opened at $137.56 on Thursday. The company has a fifty day moving average price of $131.14 and a 200-day moving average price of $135.96. The firm has a market capitalization of $4.08 billion, a P/E ratio of 143.29, a price-to-earnings-growth ratio of 8.49 and a beta of 1.06. Wingstop has a one year low of $92.29 and a one year high of $172.87.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, February 17th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.05). Wingstop had a negative return on equity of 14.61% and a net margin of 12.73%. Research analysts forecast that Wingstop will post 1.26 earnings per share for the current year.

In related news, CFO Michael Skipworth sold 508 shares of the stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $120.50, for a total value of $61,214.00. Following the completion of the transaction, the chief financial officer now directly owns 18,026 shares of the company’s stock, valued at $2,172,133. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles R. Morrison sold 997 shares of the stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $120.50, for a total transaction of $120,138.50. Following the completion of the transaction, the chief executive officer now directly owns 95,149 shares of the company’s stock, valued at $11,465,454.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,868 shares of company stock valued at $224,807. Insiders own 1.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Wingstop by 0.4% in the fourth quarter. BlackRock Inc. now owns 3,448,923 shares of the restaurant operator’s stock worth $457,154,000 after buying an additional 12,226 shares in the last quarter. Alliancebernstein L.P. raised its stake in Wingstop by 9.9% in the fourth quarter. Alliancebernstein L.P. now owns 626,153 shares of the restaurant operator’s stock worth $82,997,000 after buying an additional 56,529 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Wingstop by 14.5% in the fourth quarter. Lord Abbett & CO. LLC now owns 445,541 shares of the restaurant operator’s stock worth $59,056,000 after buying an additional 56,436 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Wingstop by 38.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 437,974 shares of the restaurant operator’s stock worth $58,053,000 after buying an additional 122,450 shares in the last quarter. Finally, Norges Bank bought a new position in Wingstop in the fourth quarter worth about $38,435,000.

About Wingstop

Wingstop, Inc is a franchisor and operator of restaurants, which engages in the provision of cooked-to-order, hand-sauced, and tossed chicken wings. It operates through Franchise and Company segments. The Franchise segment consists of domestic and international franchise restaurants. The Company segment comprises company-owned restaurants.

Featured Story: What are momentum indicators and what do they show?

The Fly

Analyst Recommendations for Wingstop (NASDAQ:WING)

Receive News & Ratings for Wingstop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wingstop and related companies with MarketBeat.com's FREE daily email newsletter.