Wingstop Inc is a chain of restaurants in the USA. Targets are $200 followed by $220. Support sits at $170.

Wingstop Inc (NASDAQ: "WING"), is a US-Based chain of restaurants specialising in chicken wings and thier main food. The company has about 900 locations.

Wingstop has a market capitalisation of $5.45bn with 2021 revenue forecast to be about $290m with a profit after tax of around $45-$48m. Looking at the balance sheet, the total cash on hand is $48.1m with total assets at $234m and total liabilities at $556.5m. This gives Wingstop a L/A ratio of 237%. This is insanely high, but there is likey justification to this as most of their debt is classified as 'long term debt' so it could be mortgages.

From a technical aspect as you can see Wingstop has been rangebound since July 2020. About 10 days ago it broke out of the rangebound area and looks towards $200, with a strong trendline below too, which also dates back towards May. The overall set-up looks look good. Support sits at $175, followed by $170 with initial targets of $200 followed by $220 in extension.