BMO Capital Markets Reiterates Outperform Rating for Wingstop (NASDAQ:WING)

Wingstop (NASDAQ:WING)‘s stock had its “outperform” rating restated by analysts at BMO Capital Markets in a research note issued to investors on Monday, MarketBeat reports. They presently have a $108.00 price target on the restaurant operator’s stock, up from their prior price target of $84.00. BMO Capital Markets’ price objective would suggest a potential upside of 19.13% from the company’s current price.

Several other brokerages have also recently issued reports on WING. BidaskClub raised Wingstop from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 5th. Stifel Nicolaus raised Wingstop from a “hold” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $92.00 in a report on Monday, June 3rd. Piper Jaffray Companies began coverage on Wingstop in a report on Monday, May 13th. They set an “overweight” rating and a $88.00 price objective on the stock. Stephens upped their price objective on Wingstop from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Finally, Wells Fargo & Co upped their price objective on Wingstop from $76.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Wingstop has a consensus rating of “Buy” and an average price target of $74.31.

Shares of WING opened at $90.66 on Monday. The stock has a market cap of $2.71 billion, a PE ratio of 107.93, a price-to-earnings-growth ratio of 6.38 and a beta of 0.73. Wingstop has a 1 year low of $47.83 and a 1 year high of $93.54. The business’s 50 day moving average price is $84.37.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The business had revenue of $48.05 million for the quarter, compared to analysts’ expectations of $45.68 million. Wingstop had a negative return on equity of 13.31% and a net margin of 13.52%. The company’s revenue for the quarter was up 28.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. On average, equities analysts predict that Wingstop will post 0.74 earnings per share for the current year.

In other Wingstop news, insider Madison Jobe sold 2,823 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $77.98, for a total value of $220,137.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael J. Hislop sold 5,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $89.05, for a total value of $445,250.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,678 shares of company stock worth $2,374,961. Insiders own 1.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC purchased a new stake in Wingstop in the first quarter worth $40,000. Captrust Financial Advisors increased its stake in Wingstop by 165.4% in the fourth quarter. Captrust Financial Advisors now owns 929 shares of the restaurant operator’s stock worth $60,000 after purchasing an additional 579 shares during the period. Bank of Montreal Can increased its stake in Wingstop by 16.0% in the fourth quarter. Bank of Montreal Can now owns 1,525 shares of the restaurant operator’s stock worth $98,000 after purchasing an additional 210 shares during the period. Parametrica Management Ltd purchased a new stake in Wingstop in the fourth quarter worth $206,000. Finally, First Mercantile Trust Co. purchased a new stake in Wingstop in the first quarter worth $209,000.

Wingstop Company Profile

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 December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.

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Analyst Recommendations for Wingstop (NASDAQ:WING)

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