Wingstop Inc (WING · NASDAQ)

Wingstop shares have fallen 32.1% over three months and sit 62.2% below their 52-week high, though the stock rebounded 7.9% over the past five days to $106.89. Fundamentals remain solid — the company beat estimates in all of its last four quarters, including $1.18 versus $1.02 expected in the quarter ended June 30, with earnings up 19.8% year over year and revenue of $720.7 million TTM growing 6.4%. Leverage is elevated at 5.4x debt/EBITDA on $1.27 billion of total debt, and free cash flow was negative $11.3 million last quarter as capex of $18.2 million outpaced $6.9 million in operating cash flow. Sentiment is mixed: Citi reiterated a Buy with a $208 target citing NFL-season promotions, while Envestnet trimmed its stake by 29% in Q2.