Wedbush Increases Wingstop (NASDAQ:WING) Price Target to $400.00

Wingstop (NASDAQ:WING) had its price target increased by stock analysts at Wedbush from $340.00 to $400.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s price objective points to a potential upside of 4.56% from the stock’s previous close. Wedbush also issued estimates for Wingstop’s Q3 2024 earnings at $0.83 EPS, FY2024 earnings at $3.08 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $0.99 EPS and FY2025 earnings at $3.66 EPS.

Several other equities analysts have also weighed in on WING. Truist Financial reiterated a “hold” rating and issued a $292.00 target price on shares of Wingstop in a report on Monday, April 1st. Jefferies Financial Group boosted their target price on shares of Wingstop from $310.00 to $335.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Sanford C. Bernstein assumed coverage on shares of Wingstop in a report on Wednesday, February 14th. They issued an “outperform” rating and a $340.00 target price on the stock. Benchmark reiterated a “hold” rating on shares of Wingstop in a report on Tuesday, April 23rd. Finally, TD Cowen reiterated a “buy” rating and issued a $410.00 target price on shares of Wingstop in a report on Wednesday, April 10th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $294.17.

Wingstop Trading Up 3.4 %

WING opened at $382.56 on Friday. The firm has a market capitalization of $11.24 billion, a PE ratio of 162.79, a PEG ratio of 6.39 and a beta of 1.68. Wingstop has a twelve month low of $150.08 and a twelve month high of $383.98. The firm’s 50-day moving average price is $354.56 and its 200 day moving average price is $281.55.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The firm 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%. Wingstop’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. As a group, analysts predict that Wingstop will post 3.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kilandigalu Madati sold 1,472 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $339.87, for a total transaction of $500,288.64. Following the sale, the director now directly owns 5,450 shares of the company’s stock, valued at approximately $1,852,291.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Wingstop news, Director Kilandigalu Madati sold 1,472 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $339.87, for a total transaction of $500,288.64. Following the completion of the transaction, the director now owns 5,450 shares in the company, valued at approximately $1,852,291.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Skipworth sold 10,843 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the transaction, the chief executive officer now owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The disclosure for this sale can be found here. Insiders have sold a total of 14,901 shares of company stock valued at $5,120,605 in the last ninety days. Company insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Wingstop in the 1st quarter valued at $29,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Wingstop in the 4th quarter valued at $28,000. GAMMA Investing LLC boosted its holdings in shares of Wingstop by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after buying an additional 40 shares in the last quarter. FSC Wealth Advisors LLC acquired a new position in shares of Wingstop in the 4th quarter valued at $39,000. Finally, Riverview Trust Co acquired a new position in shares of Wingstop in the 1st quarter valued at $66,000.

About Wingstop

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.