Wingstop (NASDAQ:WING) PT Raised to $345.00

Wingstop (NASDAQ:WING) had its target price hoisted by Truist Financial from $320.00 to $345.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a hold rating on the restaurant operator’s stock.

A number of other equities research analysts have also recently weighed in on WING. Sanford C. Bernstein began coverage on shares of Wingstop in a report on Wednesday, February 14th. They issued an outperform rating and a $340.00 price objective on the stock. Jefferies Financial Group lifted their price objective on Wingstop from $310.00 to $335.00 and gave the company a hold rating in a research note on Tuesday, April 16th. Wedbush increased their target price on Wingstop from $400.00 to $425.00 and gave the stock an outperform rating in a research note on Thursday. Morgan Stanley lifted their price target on Wingstop from $280.00 to $315.00 and gave the stock an equal weight rating in a research report on Friday, April 12th. Finally, Citigroup increased their price objective on shares of Wingstop from $320.00 to $375.00 and gave the company a neutral rating in a research report on Wednesday, April 17th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $330.39.

Wingstop Stock Up 1.8 %

WING opened at $388.55 on Thursday. Wingstop has a 52 week low of $150.08 and a 52 week high of $396.00. The stock has a market cap of $11.41 billion, a PE ratio of 138.27, a PEG ratio of 6.42 and a beta of 1.67. The business has a 50 day moving average of $360.49 and a 200-day moving average of $288.72.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 EPS for the quarter, beating the consensus estimate of $0.76 by $0.22. The business had revenue of $145.70 million during the quarter, compared to analyst estimates of $136.34 million. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. Equities analysts anticipate 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. Shareholders of record on Friday, May 17th will be given a $0.22 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.88 annualized dividend and a yield of 0.23%. Wingstop’s payout ratio is 31.32%.

Insider Buying and Selling at Wingstop

In other news, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 17,107 shares in the company, valued at approximately $5,771,901.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Wingstop news, 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 transaction of $961,888.56. Following the completion of the sale, the senior vice president now owns 1,646 shares of the company’s stock, valued at $612,246.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the chief executive officer now directly owns 17,107 shares in the company, valued at approximately $5,771,901.80. The disclosure for this sale can be found here. Insiders sold a total of 14,901 shares of company stock worth $5,120,605 in the last three months. 0.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wingstop

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WING. American Century Companies Inc. lifted its holdings in Wingstop by 29.4% during the third quarter. American Century Companies Inc. now owns 1,626,558 shares of the restaurant operator’s stock valued at $292,520,000 after purchasing an additional 370,032 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Wingstop by 11.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,167,230 shares of the restaurant operator’s stock valued at $209,915,000 after purchasing an additional 121,134 shares during the period. Federated Hermes Inc. raised its position in shares of Wingstop by 1.8% during the 4th quarter. Federated Hermes Inc. now owns 1,107,852 shares of the restaurant operator’s stock valued at $284,253,000 after purchasing an additional 19,540 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Wingstop by 64.3% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,079,939 shares of the restaurant operator’s stock valued at $194,216,000 after buying an additional 422,727 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Wingstop by 155.7% in the 4th quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock worth $224,093,000 after buying an additional 531,880 shares during the period.

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.