Wingstop (WING): Transcending Industry Softness - Cowen

Cowen analyst, Andrew Charles, reiterated his Outperform rating on shares of Wingstop (NASDAQ: WING) after the company reported 2Q adj. EPS of $0.18, exceeding consensus at $0.15. News of in-line same store sales of 2.0% was the highlight of the release in an otherwise soft industry sales backdrop.

The analyst stated, "we were aware entering 2Q Easter would weigh on comps by 80 bps but did not factor in a 40 bps headwind from 2 fewer games in the NBA Finals vs June 2016. Encouragingly, sales improved sequentially through 2Q, driven in part by the strengthening impact of national TV advertising launched in Feb".

No change to the price target of $37.

For an analyst ratings summary and ratings history on Wingstop click here. For more ratings news on Wingstop click here.

Shares of Wingstop closed at $30.10 yesterday.

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