Wingstop (NASDAQ:WING) Price Target Increased to $425.00 by Analysts at Wedbush

Wingstop (NASDAQ:WING) had its price objective lifted by Wedbush from $400.00 to $425.00 in a report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock. Wedbush also issued estimates for Wingstop’s Q2 2024 earnings at $0.74 EPS, Q3 2024 earnings at $0.84 EPS, Q3 2024 earnings at $0.83 EPS, FY2024 earnings at $3.08 EPS, FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $0.97 EPS, Q3 2025 earnings at $1.05 EPS, Q4 2025 earnings at $0.99 EPS and FY2025 earnings at $3.66 EPS.

A number of other brokerages have also weighed in on WING. Truist Financial reiterated a hold rating and set a $292.00 target price on shares of Wingstop in a research report on Monday, April 1st. Morgan Stanley raised their price target on shares of Wingstop from $280.00 to $315.00 and gave the company an equal weight rating in a report on Friday, April 12th. BMO Capital Markets lifted their price target on Wingstop from $235.00 to $275.00 and gave the company a market perform rating in a research report on Thursday, February 22nd. Stephens restated an overweight rating and issued a $425.00 price objective on shares of Wingstop in a research report on Wednesday. Finally, Benchmark reiterated a hold rating on shares of Wingstop in a research report on Tuesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Wingstop currently has a consensus rating of Hold and a consensus target price of $330.39.

Wingstop Stock Up 1.8 %

Shares of WING stock opened at $388.55 on Thursday. Wingstop has a 12-month low of $150.08 and a 12-month high of $396.00. The company has a 50 day moving average of $360.49 and a 200-day moving average of $288.72. The firm has a market cap of $11.41 billion, a P/E ratio of 138.27, a PEG ratio of 6.42 and a beta of 1.67.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) 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 business had revenue of $145.70 million during the quarter, compared to the consensus estimate of $136.34 million. During the same period last year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 34.0% on a year-over-year basis. As a group, equities analysts expect that Wingstop will post 3.4 EPS for the current year.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Thursday, May 16th. Wingstop’s payout ratio is 31.32%.

Insider Buying and Selling at Wingstop

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WING. Franklin Resources Inc. raised its holdings in Wingstop by 155.7% in the fourth quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock worth $224,093,000 after purchasing an additional 531,880 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of Wingstop by 64.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,079,939 shares of the restaurant operator’s stock worth $194,216,000 after buying an additional 422,727 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Wingstop in the 4th quarter worth about $103,899,000. American Century Companies Inc. lifted its position in Wingstop by 29.4% during the 3rd quarter. American Century Companies Inc. now owns 1,626,558 shares of the restaurant operator’s stock valued at $292,520,000 after acquiring an additional 370,032 shares during the period. Finally, Norges Bank bought a new stake in Wingstop during the fourth quarter worth about $80,423,000.

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.