UPDATE: Guggenheim Downgrades Wingstop (WING) to Neutral

(updated to add price target and analyst comment)

Guggenheim analyst Matthew DiFrisco downgraded Wingstop (NASDAQ: WING) from Buy to Neutral, price target $72.00.

The analyst comments "We continue to recognize Wingstop's superior store level ROIC and multiple SSS catalysts as we raised our 1Q19 SSS estimate amid greater marketing and expanded delivery. However, rising wing costs coupled with a 100bps increase to Ad contributions represent headwinds to the +10% franchise development goal. We lowered our below-consensus EBITDA and EPS estimates consisting of lower company store revenue & profits."

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 $74.74 yesterday.

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