Wedbush Raises Wingstop (NASDAQ:WING) Price Target to $400.00

Wingstop (NASDAQ:WING) had its target price boosted by Wedbush from $340.00 to $400.00 in a research report released on Friday morning, Benzinga reports. Wedbush currently has an outperform rating on the restaurant operator’s stock. Wedbush also issued estimates for Wingstop’s Q3 2024 earnings at $0.83 EPS, FY2024 earnings at $3.08 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $0.99 EPS and FY2025 earnings at $3.66 EPS.

A number of other brokerages have also recently weighed in on WING. Morgan Stanley boosted their price target on Wingstop from $280.00 to $315.00 and gave the stock an equal weight rating in a research report on Friday, April 12th. Citigroup boosted their price target on Wingstop from $320.00 to $375.00 and gave the stock a neutral rating in a research report on Wednesday, April 17th. BMO Capital Markets boosted their price target on Wingstop from $235.00 to $275.00 and gave the stock a market perform rating in a research report on Thursday, February 22nd. Truist Financial reaffirmed a hold rating and issued a $292.00 price target on shares of Wingstop in a research report on Monday, April 1st. Finally, Benchmark reiterated a hold rating on shares of Wingstop in a research note on Tuesday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $294.17.

Wingstop Trading Up 0.6 %

WING opened at $384.82 on Friday. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 163.75, a PEG ratio of 6.57 and a beta of 1.68. Wingstop has a 1 year low of $150.08 and a 1 year high of $392.48. The stock has a fifty day moving average price of $355.87 and a 200 day moving average price of $283.73.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Wingstop had a negative return on equity of 17.66% and a net margin of 15.25%. The firm had revenue of $127.06 million during the quarter, compared to analysts’ expectations of $120.47 million. During the same quarter last year, the firm earned $0.60 earnings per share. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. As a group, sell-side analysts forecast that Wingstop will post 3.03 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Thursday, March 7th. Wingstop’s dividend payout ratio is 37.45%.

Insiders Place Their Bets

In other Wingstop news, SVP Marisa Carona sold 2,586 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $371.96, for a total transaction of $961,888.56. Following the transaction, the senior vice president now owns 1,646 shares of the company’s stock, valued at approximately $612,246.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Wingstop news, SVP Marisa Carona sold 2,586 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $371.96, for a total transaction of $961,888.56. Following the completion of the sale, the senior vice president now owns 1,646 shares in the company, valued at approximately $612,246.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Skipworth sold 10,843 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the sale, the chief executive officer now owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,901 shares of company stock valued at $5,120,605. 0.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Wingstop

Several institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. raised its position in shares of Wingstop by 29.4% during the 3rd quarter. American Century Companies Inc. now owns 1,626,558 shares of the restaurant operator’s stock valued at $292,520,000 after acquiring an additional 370,032 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Wingstop by 11.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,167,230 shares of the restaurant operator’s stock valued at $209,915,000 after buying an additional 121,134 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Wingstop by 1.8% in the 4th quarter. Federated Hermes Inc. now owns 1,107,852 shares of the restaurant operator’s stock valued at $284,253,000 after buying an additional 19,540 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Wingstop by 64.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,079,939 shares of the restaurant operator’s stock valued at $194,216,000 after buying an additional 422,727 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Wingstop by 155.7% in the 4th quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock valued at $224,093,000 after buying an additional 531,880 shares in the last quarter.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.