Shares of Wingstop Inc (NASDAQ:WING) tanked in early trading on Thursday, after the company reported downbeat first-quarter (Q1) results.
Here are some key analyst insights for the Dallas-based restaurant chain:
- Stephens analyst Jim Salera maintained an Overweight rating, while slashing the price target from $300 to $225.
- BTIG analyst Peter Saleh reaffirmed a Buy rating, while cutting the price target from $400 to $305.
Check out other analyst stock ratings.
Stephens: Wingstop’s same-store sales declined by 8.7%. That’s much worse than Street expectations of a 5.7% contraction. The company’s total revenue of $183.7 million missed the estimate of $188.6 million. Its adjusted earnings of $1.18 per share came in higher than the consensus of $1.03 per share.
Wingstop’s adjusted EBITDA grew 9.9% year-on-year to $65.4 million, …