Wingstop just downgraded at Benchmark, here’s why

Benchmark downgraded Wingstop to Hold from Buy and removed the firm’s prior price target following the stock’s 47% move since the firm’s previous upgrade on August 3. The firm, which just introduced FY25 estimates, notes shares are currently trading towards the midpoint of the historical 30 times to 55 times range that the shares achieved prior to the pandemic against those FY25 estimates.