Piper Sandler Increases Wingstop (NASDAQ:WING) Price Target to $191.00

Wingstop (NASDAQ:WING) had its target price hoisted by equities research analysts at Piper Sandler from $177.00 to $191.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s price objective would indicate a potential downside of 7.81% from the stock’s previous close.

A number of other brokerages have also recently issued reports on WING. Wedbush raised shares of Wingstop from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $180.00 to $200.00 in a research note on Wednesday, September 20th. Barclays increased their price objective on shares of Wingstop from $208.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. Bank of America assumed coverage on shares of Wingstop in a research note on Thursday, October 5th. They set a “buy” rating and a $218.00 target price on the stock. BMO Capital Markets dropped their price target on Wingstop from $210.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday, August 3rd. Finally, TD Cowen boosted their price objective on Wingstop from $210.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Wingstop has a consensus rating of “Hold” and an average price target of $204.21.

Wingstop Trading Up 0.3 %

WING opened at $207.18 on Monday. The stock’s fifty day simple moving average is $176.51 and its 200 day simple moving average is $184.11. Wingstop has a 1-year low of $129.46 and a 1-year high of $223.77. The stock has a market cap of $6.09 billion, a PE ratio of 90.08, a price-to-earnings-growth ratio of 4.23 and a beta of 1.47.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.17. The business had revenue of $117.10 million during the quarter, compared to analysts’ expectations of $109.27 million. Wingstop had a negative return on equity of 18.20% and a net margin of 15.75%. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period last year, the firm posted $0.45 EPS. Equities analysts forecast that Wingstop will post 2.33 earnings per share for the current year.

Insider Transactions at Wingstop

In related news, SVP Donnie Upshaw sold 6,699 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $165.15, for a total value of $1,106,339.85. Following the sale, the senior vice president now owns 173 shares in the company, valued at $28,570.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in shares of Wingstop by 1.5% during the 1st quarter. BlackRock Inc. now owns 3,586,391 shares of the restaurant operator’s stock valued at $420,864,000 after buying an additional 51,296 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Wingstop by 3.5% in the 1st quarter. Wellington Management Group LLP now owns 1,751,221 shares of the restaurant operator’s stock worth $205,506,000 after purchasing an additional 59,529 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Wingstop by 1.0% in the 1st quarter. Federated Hermes Inc. now owns 982,248 shares of the restaurant operator’s stock worth $180,321,000 after purchasing an additional 9,370 shares in the last quarter. State Street Corp grew its stake in shares of Wingstop by 2.9% in the 1st quarter. State Street Corp now owns 976,617 shares of the restaurant operator’s stock worth $179,287,000 after buying an additional 27,342 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Wingstop by 1,176.9% during the 4th quarter. Alliancebernstein L.P. now owns 899,336 shares of the restaurant operator’s stock valued at $123,767,000 after buying an additional 828,904 shares in the last quarter.

Wingstop Company Profile

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. Wingstop Inc was founded in 1994 and is headquartered in Addison, Texas.