Wingstop Shares Breach Key Moving Average After Downgrade

SBH shares are also sinking after a downgrade

Oct 24, 2018 at 3:17 PM
facebook X logo linkedin

Stocks have fallen into the red today despite a strong start to the session. Three names making notable moves are restaurant chain Wingstop Inc (NASDAQ:WING), social media concern Snap Inc (NYSE:SNAP), and salon supplies retailer Sally Beauty Holdings, Inc. (NYSE:SBH). Here's what moving shares of WING, SNAP, and SBH today.

WING Stock Down After Bear Note

WING shares are down 4.5% at $66.53, set for their first close below the 50-day moving average since early August, after Stifel downgraded the stock to "hold" from "buy." The brokerage firm also lowered its price target to $75 from $80. Wingstop touched an all-time high of $75.58 a week ago, and still sports a year-to-date lead of 82.8%.

Short sellers are hoping there's more downside ahead. For instance, over 14% of the float is sold short, and going by average daily trading volumes, it'd take almost nine sessions for these bears to cover their positions.

SNAP Shares Slip After C-Suite News

SNAP stock is down 0.4% at $6.83, even after news the company named Amazon's head of advertising Jeremi Gorman as its chief business officer. The move comes ahead of Snap's earnings release, scheduled for after the close tomorrow, Oct. 25. The shares are hovering near 52-weeks lows ahead of the event, losing half their value over the past year. As such, most analysts are skeptical of the security, with 21 of 25 in coverage handing out "hold" or "strong sell" recommendations.

Sally Beauty Gets Another Bear Note

SBH shares are down 5.7% at $17.02, after Jefferies lowered its rating to "underperform" from "hold," and reduced its price target to $13.50 from $14. The brokerage firm called the company's decision to stretch its leverage "reckless." The stock is sitting in a peculiar spot on the charts; while it recently topped out near its January highs around $19, it's now seemingly finding support near the 200-day moving average, a trendline that had acted as resistance throughout most of the year.

All other analysts are already steadfastly in the bears' corner, with all 11 in coverage handing out "hold" or worse recommendations on Sally Beauty Holdings. Plus, short interest is extremely high, representing 23.2% of the float.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI