Wingstop (NASDAQ:WING) Sets New 1-Year High After Analyst Upgrade

Shares of Wingstop Inc. (NASDAQ:WING) reached a new 52-week high during trading on Friday after Wedbush raised their price target on the stock from $340.00 to $400.00. Wedbush currently has an outperform rating on the stock. Wingstop traded as high as $380.63 and last traded at $378.22, with a volume of 149767 shares. The stock had previously closed at $369.90.

Several other equities research analysts have also commented on WING. Truist Financial reissued a “hold” rating and set a $292.00 price target on shares of Wingstop in a research note on Monday, April 1st. Stephens assumed coverage on Wingstop in a report on Friday, April 12th. They issued an “overweight” rating and a $425.00 target price on the stock. Stifel Nicolaus lifted their price target on Wingstop from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Sanford C. Bernstein initiated coverage on shares of Wingstop in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $340.00 price objective on the stock. Finally, TD Cowen restated a “buy” rating and set a $410.00 target price on shares of Wingstop in a research report on Wednesday, April 10th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $294.17.

Insider Buying and Selling

In other Wingstop news, SVP Marisa Carona sold 2,586 shares of Wingstop stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael Skipworth sold 10,843 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $337.40, for a total value of $3,658,428.20. Following the transaction, the chief executive officer now directly owns 17,107 shares in the company, valued at approximately $5,771,901.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Marisa Carona sold 2,586 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $371.96, for a total value of $961,888.56. Following the sale, the senior vice president now owns 1,646 shares of the company’s stock, valued at approximately $612,246.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,901 shares of company stock worth $5,120,605. 0.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Rise Advisors LLC purchased a new position in shares of Wingstop in the 1st quarter valued at $29,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Wingstop in the 4th quarter valued at $28,000. GAMMA Investing LLC raised its position in Wingstop by 53.3% in the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 40 shares during the period. FSC Wealth Advisors LLC acquired a new position in shares of Wingstop during the fourth quarter worth about $39,000. Finally, Riverview Trust Co purchased a new stake in shares of Wingstop in the first quarter worth about $66,000.

Wingstop Stock Up 3.4 %

The firm has a market cap of $11.24 billion, a price-to-earnings ratio of 162.79, a price-to-earnings-growth ratio of 6.27 and a beta of 1.68. The business has a 50 day moving average price of $353.29 and a 200-day moving average price of $279.41.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $127.06 million for the quarter, compared to analyst estimates of $120.47 million. Wingstop had a net margin of 15.25% and a negative return on equity of 17.66%. The business’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. Research analysts anticipate that Wingstop Inc. will post 3.02 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.88 annualized dividend and a dividend yield of 0.23%. Wingstop’s dividend payout ratio is presently 37.45%.

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.