Wingstop (NASDAQ:WING) Given New $461.00 Price Target at Bank of America

Wingstop (NASDAQ:WING) had its price objective raised by Bank of America from $421.00 to $461.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Several other equities research analysts also recently commented on WING. Benchmark reiterated a hold rating on shares of Wingstop in a report on Thursday. Wedbush lifted their price target on shares of Wingstop from $400.00 to $425.00 and gave the stock an outperform rating in a research note on Thursday. Jefferies Financial Group increased their price objective on shares of Wingstop from $310.00 to $335.00 and gave the company a hold rating in a research report on Tuesday, April 16th. Truist Financial raised their target price on shares of Wingstop from $320.00 to $345.00 and gave the stock a hold rating in a report on Thursday. Finally, Morgan Stanley boosted their target price on shares of Wingstop from $280.00 to $315.00 and gave the company an equal weight rating in a research note on Friday, April 12th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $330.39.

Wingstop Stock Up 1.8 %

Shares of WING opened at $388.55 on Thursday. Wingstop has a twelve month low of $150.08 and a twelve month high of $396.00. The company has a market capitalization of $11.41 billion, a P/E ratio of 138.27, a price-to-earnings-growth ratio of 6.30 and a beta of 1.67. The firm has a 50 day moving average of $360.49 and a 200 day moving average of $288.00.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 EPS for the quarter, beating the consensus estimate of $0.76 by $0.22. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The business had revenue of $145.70 million for the quarter, compared to the consensus estimate of $136.34 million. During the same period last year, the business posted $0.59 EPS. The company’s revenue was up 34.0% compared to the same quarter last year. On average, sell-side analysts expect that Wingstop will post 3.15 EPS for the current year.

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.23%. Wingstop’s payout ratio is currently 31.32%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Wingstop

Institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in shares of Wingstop by 29.4% during the third quarter. American Century Companies Inc. now owns 1,626,558 shares of the restaurant operator’s stock worth $292,520,000 after acquiring an additional 370,032 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Wingstop by 11.6% during 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 purchasing an additional 121,134 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Wingstop by 1.8% during the 4th quarter. Federated Hermes Inc. now owns 1,107,852 shares of the restaurant operator’s stock valued at $284,253,000 after purchasing an additional 19,540 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Wingstop by 64.3% during the third quarter. Artisan Partners Limited Partnership now owns 1,079,939 shares of the restaurant operator’s stock valued at $194,216,000 after purchasing an additional 422,727 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Wingstop by 155.7% in the fourth quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock worth $224,093,000 after purchasing an additional 531,880 shares during the last quarter.

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.