William Blair analyst Sharon Zackfia has maintained their bullish stance on WING stock, giving a Buy rating today.
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Sharon Zackfia’s rating is based on Wingstop’s ability to exceed profit expectations despite softer sales figures. The company’s third-quarter earnings per share surpassed both her and the consensus estimates, primarily due to reduced selling, general, and administrative expenses, which provided a significant financial cushion.
Additionally, Wingstop benefited from lower-than-anticipated interest expenses and a stronger-than-expected contribution margin from company-owned locations. Looking ahead, Zackfia anticipates that the full-year earnings per share estimates will either remain stable or see a slight increase, as the anticipated reduction in fourth-quarter comparable sales is expected to be counterbalanced by continued savings in SG&A and other expenses.
In another report released today, Barclays also maintained a Buy rating on the stock with a $330.00 price target.