The key word of 2022 has been “inflation.” We saw it in every facet of the economy from food prices to housing to watches. The red-hot CPI numbers have reflected this new reality. Recently though, these prices have come down off their highs. The data shows inflation cooling all around us. Food prices have certainly reeled in a bit. In the restaurant biz, I know people who paid $100+ for a 40-pound box of chicken wings not too long ago. That number is now down to $66.

That should be a wind in the sales of today’s Bull of the Day, Wingstop (WING Quick QuoteWING - Free Report) . Wingstop operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide.

Image Source: Zacks Investment Research

The reason for the favorable Zacks Rank is the influx of positive earnings estimate revisions coming from analysts. Over the last week alone, eight analysts have increased their earnings estimates for both the current year and next year. The bullish sentiment has pushed up our Zacks Consensus Estimates for the current year from $1.57 to $1.64 and next year from $1.84 to $1.92.

That means that current year EPS growth estimates are up at 21%, with next year coming in at 17%. Translated over to the revenue side of the equation, we are looking at 25% growth this year and 18% next year. I am sure that new chicken sandwich is helping things along as well.