Hedgeye CEO Keith McCullough is adding Wingstop (WING) to the long side of Investing Ideas. Below is a brief note.
Am I still in the minority in having the #patience (i.e. #process) to buy things on sale? Howard Penney's longs have been fertile grounds for confirming Bullish @Hedgeye TREND quant signals.
In addition to buying some pizza (DPZ) here, how about some wings? Wingstop (WING) is down on decelerating volume here today (I like buying on those).
Here's a summary excerpt from Restaurants analyst Howard Penney's Best Idea Long research (Institutional Research product) on WING:
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WING is one of the few business models that is outperforming on several metrics in the restaurants space, and we expect that to continue. While the stock has more than doubled off the March lows, we believe that WING has one of the most durable business models. WING entered the pandemic with a strong base of franchisees and a sales mix well positioned to benefit from the industry shift to take-out and delivery. Importantly, Wingstop is a digitally enabled pop culture brand. The company's robust digital infrastructure allows it to navigate the current restaurant environment successfully and capture additional visits from weakened independent restaurants. |
Buyem when they're for sale. I don't chase,
KM
