Wingstop (NASDAQ:WING) Price Target Raised to $407.00

Wingstop (NASDAQ:WING) had its target price increased by Truist Financial from $393.00 to $407.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a hold rating on the restaurant operator’s stock.

A number of other equities analysts have also weighed in on WING. Morgan Stanley upped their target price on Wingstop from $280.00 to $315.00 and gave the stock an equal weight rating in a research report on Friday, April 12th. Barclays upped their price target on Wingstop from $350.00 to $418.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. Bank of America upped their price target on Wingstop from $421.00 to $461.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Stephens reiterated an overweight rating and set a $425.00 price target on shares of Wingstop in a report on Wednesday, May 1st. Finally, Benchmark reiterated a hold rating on shares of Wingstop in a report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Wingstop presently has a consensus rating of Hold and a consensus price target of $353.17.

Wingstop Stock Performance

Shares of WING opened at $377.93 on Tuesday. Wingstop has a 52-week low of $150.08 and a 52-week high of $431.03. The business’s 50 day moving average price is $398.20 and its two-hundred day moving average price is $349.20. The firm has a market cap of $11.07 billion, a PE ratio of 134.50, a price-to-earnings-growth ratio of 4.86 and a beta of 1.69.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.22. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The company had revenue of $145.70 million for the quarter, compared to analyst estimates of $136.34 million. During the same period in the prior year, the firm earned $0.59 earnings per share. Wingstop’s revenue for the quarter was up 34.0% on a year-over-year basis. Research analysts predict that Wingstop will post 3.42 EPS for the current fiscal year.

Wingstop Announces Dividend

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

Insider Activity

In other news, SVP Albert G. Mcgrath sold 4,230 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the transaction, the senior vice president now owns 8,170 shares of the company’s stock, valued at approximately $3,238,588. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Albert G. Mcgrath sold 4,230 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the transaction, the senior vice president now owns 8,170 shares of the company’s stock, valued at approximately $3,238,588. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kilandigalu Madati sold 645 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $395.74, for a total value of $255,252.30. Following the transaction, the director now directly owns 5,147 shares in the company, valued at approximately $2,036,873.78. The disclosure for this sale can be found here. Insiders have sold 6,191 shares of company stock valued at $2,443,547 in the last 90 days. Insiders own 0.36% of the company’s stock.

Institutional Trading of Wingstop

A number of large investors have recently modified their holdings of WING. Vanguard Group Inc. lifted its position in Wingstop by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock worth $1,071,473,000 after buying an additional 104,780 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Wingstop by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock worth $833,026,000 after buying an additional 101,917 shares during the last quarter. American Century Companies Inc. lifted its position in Wingstop by 29.4% in the 3rd quarter. American Century Companies Inc. now owns 1,626,558 shares of the restaurant operator’s stock worth $292,520,000 after buying an additional 370,032 shares during the last quarter. Wellington Management Group LLP lifted its position in Wingstop by 11.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,167,230 shares of the restaurant operator’s stock worth $209,915,000 after buying an additional 121,134 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Wingstop by 1.8% in the 4th quarter. Federated Hermes Inc. now owns 1,107,852 shares of the restaurant operator’s stock worth $284,253,000 after buying an additional 19,540 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.