Barclays Trims Wingstop (NASDAQ:WING) Target Price to $160.00

Wingstop (NASDAQ:WINGGet Rating) had its price objective dropped by equities research analysts at Barclays from $194.00 to $160.00 in a research note issued on Monday, The Fly reports. Barclays‘s price target would indicate a potential upside of 61.31% from the stock’s previous close.

Several other analysts have also weighed in on WING. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wingstop from $172.00 to $168.00 and set a “hold” rating on the stock in a research report on Thursday, February 17th. Royal Bank of Canada reduced their price target on shares of Wingstop from $170.00 to $156.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 17th. StockNews.com started coverage on shares of Wingstop in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. TheStreet lowered shares of Wingstop from a “b-” rating to a “c+” rating in a research report on Tuesday, February 22nd. Finally, Piper Sandler lowered shares of Wingstop from an “overweight” rating to an “underweight” rating in a research report on Friday, March 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $176.33.

Shares of WING opened at $99.19 on Monday. The company has a market capitalization of $2.96 billion, a PE ratio of 69.36, a price-to-earnings-growth ratio of 5.99 and a beta of 1.31. Wingstop has a one year low of $97.61 and a one year high of $187.35. The company’s fifty day moving average price is $123.31 and its 200 day moving average price is $149.17.

Wingstop (NASDAQ:WINGGet Rating) last posted its quarterly earnings data on Wednesday, February 16th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.08). Wingstop had a negative return on equity of 12.62% and a net margin of 15.10%. The company had revenue of $72.00 million for the quarter, compared to the consensus estimate of $73.54 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, equities research analysts forecast that Wingstop will post 1.54 EPS for the current year.

In other Wingstop news, COO Michael Skipworth sold 748 shares of the stock in a transaction on Monday, March 7th. The shares were sold at an average price of $136.24, for a total value of $101,907.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles R. Morrison sold 1,000 shares of the stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $136.50, for a total transaction of $136,500.00. The disclosure for this sale can be found here. Insiders have sold 8,835 shares of company stock valued at $1,300,835 in the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Manchester Capital Management LLC increased its position in Wingstop by 1,400.0% during the third quarter. Manchester Capital Management LLC now owns 150 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 140 shares during the period. Pinebridge Investments L.P. bought a new position in Wingstop in the 4th quarter valued at about $69,000. Fifth Third Bancorp increased its holdings in Wingstop by 11.1% in the 4th quarter. Fifth Third Bancorp now owns 821 shares of the restaurant operator’s stock valued at $142,000 after buying an additional 82 shares during the period. Lindbrook Capital LLC increased its holdings in Wingstop by 641.3% in the 4th quarter. Lindbrook Capital LLC now owns 897 shares of the restaurant operator’s stock valued at $155,000 after buying an additional 776 shares during the period. Finally, Gladius Capital Management LP bought a new position in Wingstop in the 4th quarter valued at about $181,000.

Wingstop Company Profile (Get Rating)

Wingstop Inc, together with its subsidiaries, franchises and 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.

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