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DALLAS - Wingstop Inc. (NASDAQ:WING), the $8.67 billion market cap restaurant chain with a "GREAT" financial health rating according to InvestingPro, announced Thursday it has filed a trademark application to register National Chicken Tender Day, with plans to celebrate on July 27.
The fast-food chain, known for its wings and chicken tenders, is attempting to formalize the day as part of its marketing strategy highlighting its chicken tender offerings.
"We use premium tenderloin in our chicken tenders — the ’filet mignon of chicken’ — and hand sauce-and-toss in 12 bold flavors," said Mark Christenson, Wingstop’s Chief Revenue Officer, in a press release statement.
To mark the occasion, Wingstop is promoting a weekend-long celebration and offering a 6-piece Crispy Tender Meal for two that includes two flavors, two sides and two dips, available through the company’s website and mobile app.
The company distinguishes its tenders from competitors by emphasizing the use of chicken tenderloin and the application of its 12 flavor options, which include Lemon Pepper, Hot Honey Rub and Mango Habanero.
Wingstop currently operates and franchises more than 2,650 restaurants worldwide, with 98% owned by brand partners. The company reported approximately $5 billion in system-wide sales in fiscal 2024 and has achieved 21 consecutive years of same-store sales growth, according to the announcement. The company maintains a healthy current ratio of 3.56, indicating strong operational efficiency and financial stability.
In other recent news, Wingstop has seen several notable developments. UBS has adjusted its price target for Wingstop to $335, maintaining a Neutral rating, ahead of the company’s upcoming second-quarter earnings report. UBS anticipates a potential decline in same-store sales between 2-4%, slightly better than the consensus estimate of a 4.3% decrease. Meanwhile, Melius Research has initiated coverage on Wingstop with a Hold rating and set a price target of $350, citing the company’s strong performance and efficient operations.
BTIG continues to support Wingstop with a Buy rating and a $430 price target, following discussions with company leadership. The firm believes Wingstop is well-positioned to benefit from its technology investments. Similarly, TD Cowen has reiterated its Buy rating, increasing its price target to $400 from $330. The firm is optimistic about the impact of Wingstop’s smart kitchen rollout, which could drive significant sales growth in the coming years. These developments reflect a mix of cautious optimism and strategic focus on technology to enhance future performance.
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