Wingstop (NASDAQ:WING) Price Target Raised to $345.00

Wingstop (NASDAQ:WING) had its price objective lifted by investment analysts at Truist Financial from $320.00 to $345.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s target price points to a potential downside of 10.67% from the stock’s previous close.

Several other equities analysts have also recently weighed in on WING. Stephens reaffirmed an “overweight” rating and set a $425.00 target price on shares of Wingstop in a research note on Wednesday. Morgan Stanley increased their target price on shares of Wingstop from $280.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. BMO Capital Markets upped their price target on shares of Wingstop from $235.00 to $275.00 and gave the stock a “market perform” rating in a research note on Thursday, February 22nd. TD Cowen reissued a “buy” rating and set a $410.00 price objective on shares of Wingstop in a research report on Wednesday. Finally, Citigroup upped their target price on Wingstop from $320.00 to $375.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $302.11.

Wingstop Stock Performance

Shares of NASDAQ WING traded up $2.23 during trading on Thursday, hitting $386.21. The company had a trading volume of 101,287 shares, compared to its average volume of 480,214. Wingstop has a 52 week low of $150.08 and a 52 week high of $396.00. The business’s 50-day moving average is $358.55 and its 200 day moving average is $285.89. The company has a market cap of $11.34 billion, a P/E ratio of 162.42, a PEG ratio of 6.61 and a beta of 1.67.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The business had revenue of $127.06 million during the quarter, compared to the consensus estimate of $120.47 million. Wingstop had a net margin of 15.25% and a negative return on equity of 17.66%. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. On average, research analysts expect that Wingstop will post 3.03 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kilandigalu Madati sold 1,472 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $339.87, for a total transaction of $500,288.64. Following the sale, the director now owns 5,450 shares in the company, valued at $1,852,291.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kilandigalu Madati sold 1,472 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $339.87, for a total value of $500,288.64. Following the transaction, the director now owns 5,450 shares in the company, valued at $1,852,291.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Skipworth sold 10,843 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was 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 directly owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,901 shares of company stock valued at $5,120,605. 0.36% of the stock is currently owned by insiders.

Institutional Trading of Wingstop

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its holdings 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 acquiring an additional 531,880 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Wingstop by 64.3% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,079,939 shares of the restaurant operator’s stock worth $194,216,000 after purchasing an additional 422,727 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Wingstop in the 4th quarter valued at about $103,899,000. American Century Companies Inc. raised its holdings in shares of Wingstop by 29.4% in 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 purchasing an additional 370,032 shares during the period. Finally, Norges Bank bought a new stake in Wingstop in the fourth quarter valued at approximately $80,423,000.

Wingstop Company Profile

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.