Wingstop (NASDAQ:WING) Reaches New 52-Week Low – Here’s Why
by Sarita Garza · The Markets DailyWingstop Inc. (NASDAQ:WING – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $192.48 and last traded at $190.27, with a volume of 40910 shares. The stock had previously closed at $198.08.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. TD Cowen reaffirmed a “hold” rating and issued a $285.00 price objective on shares of Wingstop in a report on Wednesday, February 18th. Melius Research set a $350.00 target price on Wingstop in a report on Tuesday, January 20th. Stephens restated an “overweight” rating and issued a $375.00 price target on shares of Wingstop in a research report on Thursday, February 19th. Wall Street Zen downgraded Wingstop from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Citigroup upped their price objective on shares of Wingstop from $267.00 to $286.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Wingstop currently has a consensus rating of “Moderate Buy” and an average target price of $337.29.
View Our Latest Analysis on WING
Wingstop Stock Performance
The stock has a fifty day simple moving average of $250.40 and a two-hundred day simple moving average of $253.42. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 30.31, a P/E/G ratio of 2.09 and a beta of 1.82.
Wingstop (NASDAQ:WING – Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.16. Wingstop had a negative return on equity of 16.12% and a net margin of 25.01%.The company had revenue of $175.69 million during the quarter, compared to analysts’ expectations of $177.74 million. During the same quarter in the previous year, the firm earned $0.92 EPS. Wingstop’s revenue was up 8.6% on a year-over-year basis. Equities analysts expect that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.
Wingstop Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. Wingstop’s dividend payout ratio is 19.42%.
Insider Activity at Wingstop
In related news, Director Wesley S. Mcdonald sold 566 shares of Wingstop stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $250.00, for a total transaction of $141,500.00. Following the sale, the director directly owned 4,375 shares of the company’s stock, valued at approximately $1,093,750. The trade was a 11.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kilandigalu Madati sold 2,700 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $260.73, for a total transaction of $703,971.00. Following the completion of the transaction, the director directly owned 2,583 shares of the company’s stock, valued at approximately $673,465.59. The trade was a 51.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.72% of the company’s stock.
Hedge Funds Weigh In On Wingstop
Several large investors have recently bought and sold shares of WING. Cornerstone Planning Group LLC grew its holdings in shares of Wingstop by 1,650.0% during the third quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in Wingstop by 76.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock worth $33,000 after acquiring an additional 60 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in Wingstop by 54.3% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock worth $36,000 after acquiring an additional 50 shares during the last quarter. Rakuten Securities Inc. increased its position in Wingstop by 197.9% in the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after acquiring an additional 95 shares during the period. Finally, Pinnacle Holdings LLC bought a new position in shares of Wingstop during the third quarter valued at $47,000.
Wingstop Company Profile
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.