Wingstop (NASDAQ:WING) PT Raised to $461.00 at Bank of America

Wingstop (NASDAQ:WING) had its price objective boosted by Bank of America from $421.00 to $461.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

Several other analysts have also recently commented on the stock. TD Cowen reaffirmed a buy rating and issued a $410.00 target price on shares of Wingstop in a research note on Wednesday. Truist Financial lifted their price objective on Wingstop from $320.00 to $345.00 and gave the company a hold rating in a research report on Thursday. Morgan Stanley increased their target price on Wingstop from $280.00 to $315.00 and gave the stock an equal weight rating in a research report on Friday, April 12th. Benchmark reaffirmed a hold rating on shares of Wingstop in a research note on Thursday. Finally, BMO Capital Markets raised their target price on shares of Wingstop from $275.00 to $325.00 and gave the stock a market perform rating in a research report on Thursday. 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 data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $330.39.

Wingstop Stock Performance

WING stock opened at $388.55 on Thursday. The stock’s 50 day moving average price is $360.49 and its 200 day moving average price is $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 has a 1 year low of $150.08 and a 1 year high of $396.00.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.22. The firm had revenue of $145.70 million during the quarter, compared to analysts’ expectations of $136.34 million. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. On average, research analysts predict that Wingstop will post 3.4 earnings per share for the current year.

Wingstop Dividend Announcement

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

Insider Buying and Selling

In other Wingstop news, SVP Marisa Carona sold 2,586 shares of the firm’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 completion of the sale, the senior vice president now owns 1,646 shares in the company, valued at approximately $612,246.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Marisa Carona sold 2,586 shares of the 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 completion of the transaction, the senior vice president now directly owns 1,646 shares in the company, valued at approximately $612,246.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kilandigalu Madati sold 1,472 shares of Wingstop stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $339.87, for a total transaction of $500,288.64. Following the completion of the sale, the director now owns 5,450 shares of the company’s stock, valued at approximately $1,852,291.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,901 shares of company stock worth $5,120,605. 0.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wingstop

Several large investors have recently modified their holdings of WING. RIA Advisory Group LLC acquired a new stake in Wingstop during the first quarter valued at approximately $436,000. Whittier Trust Co. of Nevada Inc. increased its stake in Wingstop by 3.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 12,444 shares of the restaurant operator’s stock valued at $4,559,000 after purchasing an additional 430 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Wingstop by 4.0% during the first quarter. Whittier Trust Co. now owns 24,346 shares of the restaurant operator’s stock worth $8,920,000 after purchasing an additional 936 shares during the period. FORA Capital LLC bought a new position in shares of Wingstop in the 1st quarter worth about $4,188,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Wingstop by 276.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 980 shares of the restaurant operator’s stock valued at $359,000 after buying an additional 720 shares during the period.

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.