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Wire

Wingstop Remains Well Positioned to Grow Average Unit Volumes Despite Near-Term Comp Weakness, UBS Says

Wingstop (WING) is expected to see ongoing same-store-sales weakness through Q2, but remains well positioned to grow average unit volumes over the coming years given strong brand positioning, sales initiatives, and operational improvements, UBS Securities said in a note emailed Tuesday.Traffic and sales should benefit from enhanced operations with Smart Kitchen, top of funnel marketing strategies, Club Wingstop loyalty platform launch, promotions, and the world cup, the brokerage said.UBS said the company's key sales initiatives should aid in improving trends through the year, despite macro headwinds, including softness in lower income and Hispanic consumer spending, the note added.While customer surveys found that lack of affordability was the main reason for reduced visits, the brokerage said drivers for traffic growth still exist by improving service speed, enhancing food quality, promotional activity, and better affordability.UBS said it seeks evidence suggesting a return to strengthened comps growth before getting more constructive on Wingstop shares.UBS kept a neutral rating on Wingstop and lowered the price target to $160 from $210.Price: $142.79, Change: $-0.66, Percent Change: -0.46%

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Wire

Wingstop's Plans Have Clarity, but Questions About Effectiveness Remain, Morgan Stanley Says

Wingstop's (WING) plans going forward have clarity, but questions remain about their effectiveness, Morgan Stanley analysts said in a Thursday note.Analysts said that while the company's domestic same store sales decline of 8.7% was understood, it was lower than expectations.Morgan Stanley said that Wingstop's Smart Kitchen system "is working but rather slowly and clearly not stemming customer pullback."Morgan Stanley said, however, that the stock is around a level where the risk/reward skew is still "compelling."Analysts retained an overweight rating on the stock, but lowered its price target to $255 from $265.Shares of the company were down 3.2% in Thursday's trading.Price: $165.59, Change: $-5.63, Percent Change: -3.29%

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Research

RBC Lowers Price Target on Wingstop to $250 From $275, Keeps Outperform Rating

Wingstop (WING) has an average rating of overweight and mean price target of $252.24 according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $165.60, Change: $-5.61, Percent Change: -3.28%

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Research

Goldman Sachs Downgrades Wingstop to Neutral From Buy, Adjusts Price Target to $190 From $290

Wingstop (WING) has an average rating of overweight and mean price target of $252.24, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Sectors

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.3%.In corporate news, Wingstop (WING) reduced its 2026 domestic same-store sales outlook and reported weaker-than-expected Q1 revenue. Its shares fell 3.6%.Starbucks' (SBUX) fiscal Q2 financial results exceeded Wall Street's views, while the coffee giant raised its full-year outlook on the back of momentum in its turnaround efforts. Its shares jumped past 8%.Etsy's (ETSY) Q1 revenue rose more than Wall Street's expectations, helping the online marketplace swing to earnings. Etsy shares climbed more than 9%.Walmart (WMT) has opened its third owned-and-operated milk processing facility in the US, located in Robinson, Texas, and representing an investment of more than $350 million, the company said Wednesday. Its shares were up 0.1%.

$ETSY$SBUX$WING$WMT
Sectors

Sector Update: Consumer Stocks Decline Wednesday Afternoon

Consumer stocks traded lower Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.3%.In corporate news, Starbucks' (SBUX) fiscal Q2 financial results exceeded Wall Street's views, while the coffee giant raised its full-year outlook on the back of momentum in its turnaround efforts. Its shares jumped past 8%.Wingstop (WING) reduced its 2026 domestic same-store sales outlook and reported weaker-than-expected Q1 revenue. Its shares fell 4.4%.Etsy's (ETSY) Q1 revenue rose more than Wall Street's expectations, helping the online marketplace swing to earnings. Etsy shares climbed 8.6%.

$ETSY$SBUX$WING
US Markets

Equities Fall Intraday Ahead of Fed Rate Decision; Oil Prices Jump

US benchmark equity indexes were lower intraday ahead of the Federal Reserve's monetary policy decision.The Dow Jones Industrial Average was down 0.6% at 48,825.5 after midday, while the Nasdaq Composite lost 0.4% to 24,560.8. The S&P 500 fell 0.3% to 7,117. Barring energy, all sectors were in the red, led by industrials.Markets widely expect the US central bank's policy committee to keep its benchmark lending rate unchanged for a third consecutive meeting. Fed Chair Jerome Powell will hold a press conference at 2:30 pm ET.Ahead of the rate decision, the US Senate Banking Committee voted Wednesday to advance Kevin Warsh's nomination as Fed chair to the Republican-controlled Senate.Warsh is President Donald Trump's pick to replace Powell, whose term as Fed chief expires on May 15. Trump has repeatedly criticized Powell for the central bank's cautious view on lowering interest rates.Today's monetary policy meeting could be Powell's last as Fed chief should the full Senate confirm Warsh in the week of May 11. Powell's term on the Fed's Board of Governors runs through January 2028, though its unclear if he would exit the Fed or decide to stay on.Oil prices surged Wednesday after Trump reportedly rejected an Iranian proposal to lift the naval blockade. Brent crude was up 7.1% at $119.20 per barrel, while West Texas Intermediate crude jumped 6.9% to $106.79.Trump told Axios on Wednesday he will maintain the US naval blockade of Iranian ports until Tehran agrees to a nuclear deal. Iran wanted the Strait of Hormuz opened before the two sides could sit down to discuss uranium enrichment at a later stage.In a social media post on Wednesday, Trump said Iran "better get smart soon.""Crude oil has resumed its war-driven rally, with Brent rising almost non-stop since a brief mid-month tumble to ($86 per barrel), when hopes for a peace deal and a short-lived reopening of the Strait of Hormuz triggered a sharp but temporary correction," Saxo Bank Head of Commodity Strategy Ole Hansen said in a report Wednesday.US Treasury yields were higher intraday, with the 10-year rate up 5.3 basis points at 4.41% and the two-year rate rising 6.4 basis points to 3.91%.Magnificent 7 companies Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), and Meta Platforms (META) are scheduled to release quarterly results after the markets close.In company news, Visa (V) shares were up 9.1% intraday, the biggest gain on the Dow, after the payments giant lifted its full-year growth outlook and reported better-than-expected fiscal second-quarter results.Wingstop (WING) reduced its 2026 domestic same-store sales outlook as the restaurant chain reported weaker-than expected first quarter revenue. The stock was down 4.1% intraday.Gold fell 1% at $4,563.80 per troy ounce, while silver dropped 1.5% to $72.13 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMZN$GOOG$GOOGL$META$MSFT$V$WING
Sectors

Sector Update: Consumer

Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) fractionally higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.4%.In corporate news, Wingstop (WING) reduced its 2026 domestic same-store sales outlook as the restaurant chain reported weaker-than expected Q1 revenue. Its shares fell 4%.

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US Markets

Wingstop Trims 2026 Same-Store Sales View After First-Quarter Revenue Miss

Wingstop (WING) reduced its 2026 domestic same-store sales outlook as the restaurant chain reported weaker-than expected first quarter revenue.Revenue increased 7.4% to $183.7 million from a year earlier, trailing the consensus on FactSet of $187.8 million. Non-GAAP earnings rose to $1.18 per share from $0.99, topping Wall Street's estimate of $1.03.Domestic same-store sales in the three months ended March 28 fell 8.7% as transaction volumes declined amid continued pressure on consumer spending.RBC Capital Markets predicted last week that Wingstop's first-quarter same-store sales would decline by 6.8%, compared to the Street's view for a 5.2% drop, prompting a cut in full-year guidance amid a tough macro environment.Wingstop's shares fell 0.5% in Wednesday trading, paring earlier losses. The stock has slumped 28% this year."Our focus in the first quarter centered upon enhancing unit economics for our brand partners and advancing our strategies that we believe will position us to return to same-store sales growth," CEO Michael Skipworth said in a statement.The company revised its full-year domestic same-store sales guidance to a low-single-digit decline from the prior outlook of flat to low-single-digit growth, citing economic uncertainty."We believe 2026 is going to be a transformational year for Wingstop and remain extremely confident in the long-term opportunity in front of us," Skipworth said.Royalty revenue and franchise fees rose to $87.5 million in the first quarter from $78.8 million a year earlier. Advertising fees and company-owned restaurant sales also increased.On Wednesday, Yum Brands (YUM) logged first-quarter results above Wall Street's estimates. On Monday, Domino's Pizza (DPZ) reported weaker-than-expected first-quarter results.Price: $172.09, Change: $-0.91, Percent Change: -0.53%

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US Markets

Restaurant Trends Likely Slowed to Exit First Quarter, UBS Says

Strong underlying trends across the US restaurant sector likely slowed toward the end of the first quarter, with an uncertain and a weak consumer environment expected to drive conservative guidance, UBS Securities said in a note on Monday."We expect (first-quarter) results to highlight generally solid underlying trends across much of the sector, but anticipate slower trends to exit the quarter and into (the second quarter so far)," UBS analyst Dennis Geiger said in the note.Management commentary will be a key focus given the impact of holiday calendar shifts, tax rebates and elevated gas prices, Geiger said. Energy prices have spiked because of the US-Israel war with Iran that has disrupted shipments through the Strait of Hormuz, a critical shipping route."We anticipate still generally conservative (2026) guidance given above (average) uncertainty in the industry backdrop," Geiger wrote.US consumer sentiment improved from an initial April estimate, but remained at a record low as near-term inflation expectations logged the biggest monthly increase in a year, final University of Michigan survey results showed Friday."Sentiment is unlikely to improve unless supply constraints are lifted or energy costs decline," according to the UBS note.Retail sales at restaurants and bars almost stalled sequentially in March, government data showed last week.Results across restaurants should largely be positive, especially when excluding the impacts of weather conditions, but "performance bifurcation among brands should remain reasonably wide again" during this reporting cycle, Geiger wrote.Starbucks' (SBUX) investors expect the company to lift its US same store sales target for this year following a second-quarter beat, according to UBS. Wingstop (WING) is seen lowering its comparable sales outlook after reporting a bigger-than-expected decline in the first quarter.The outlook for Cheesecake Factory (CAKE) and Chipotle Mexican Grill (CMG) will likely be maintained.Price: $98.64, Change: $-0.03, Percent Change: -0.03%

$CAKE$CMG$SBUX$WING
Wire

BofA Adjusts Price Target on Wingstop to $293 From $356

Wingstop (WING) has an average rating of overweight and mean price target of $280.83, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $187.27, Change: $+0.52, Percent Change: +0.28%

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US Markets

Wingstop Likely to Miss First-Quarter Same-Store Sales Views Amid Macro Pressures, RBC Says

Wingstop's (WING) fiscal first-quarter same-store sales are expected to miss Wall Street's estimates amid a tough macro environment, prompting the company to lower its full-year outlook for the metric, RBC Capital Markets said in a note e-mailed Monday.The brokerage projects the restaurant chain's first-quarter same-store sales to drop 6.8%, while the Street is looking for a 5.2% decline, according to RBC."We model (a first-quarter same-store sales) miss as macro pressures continued to weigh on (Wingstop's) core consumer and weather was likely (more than a 100-basis-point) headwind in the quarter," RBC analyst Logan Reich said in a note to clients.The company is scheduled to report results April 29."Given elevated macro uncertainty and (Wingstop) over-indexing to lower-income consumers, we anticipate a modest guide down from the (company's) flat (to low-single-digit full-year same-store sales) outlook," Reich said. "However, given best-in-class franchisee returns on capital, we don't believe there's elevated potential for a unit growth guide down, despite recently challenged (same-store sales) growth.RBC reduced its 2026 and 2027 same-store sales projections for Wingstop."(Full-year) comps were always expected to be back-half weighted, but a potential (high-single-digit) decline in (the first quarter) on an easier compare implies material contribution from the loyalty program launch at the end of (the second quarter) and faster prep times translating to faster all-in delivery speed are required," the analyst said.The brokerage lowered its price target on the Wingstop stock to $275 from $340, with an outperform rating.The company's shares were down 1.2% in Monday afternoon trade, bringing its year-to-date losses to 19%.Wingstop's customer base leans heavily toward lower-income demographics that are more sensitive to increases in gas prices, making the brand more vulnerable to macroeconomic shifts, according to the note.Energy prices have surged following the US-Israel war with Iran that started at the end of February amid the closure of the Strait of Hormuz, the world's most important chokepoint for crude flows.Price: $192.79, Change: $-3.56, Percent Change: -1.81%

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