Cowen & Co. Believes Wingstop (WING) Still Has Room to Grow


Cowen & Co. analyst Andrew Charles maintained a Buy rating on Wingstop (WING) on June 12 and set a price target of $140.00. The company’s shares closed last Monday at $159.83, close to its 52-week high of $170.00.

According to TipRanks.com, Charles is a 5-star analyst with an average return of 19.5% and a 71.2% success rate. Charles covers the Services sector, focusing on stocks such as Jack In The Box, Domino’s Pizza, and Dunkin’ Brands.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wingstop with a $157.17 average price target, a -6.2% downside from current levels. In a report issued on June 15, Wedbush also assigned a Buy rating to the stock with a $130.00 price target.

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Based on Wingstop’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $55.44 million and net profit of $8.1 million. In comparison, last year the company earned revenue of $48.56 million and had a net profit of $4.92 million.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WING in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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. The company was founded in 1994 and is headquartered in Dallas, TX.

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