Truist Financial Forecasts Strong Price Appreciation for Wingstop (NASDAQ:WING) Stock

Wingstop (NASDAQ:WING) had its price target boosted by equities researchers at Truist Financial from $242.00 to $274.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s price objective suggests a potential upside of 1.44% from the company’s current price.

Other analysts also recently issued research reports about the company. Raymond James reissued an “outperform” rating and issued a $330.00 price objective (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Wells Fargo & Company boosted their price target on shares of Wingstop from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday. Stephens reissued an “overweight” rating and issued a $385.00 price target on shares of Wingstop in a report on Wednesday. UBS Group lowered their price objective on shares of Wingstop from $300.00 to $255.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Finally, Robert W. Baird cut their target price on shares of Wingstop from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Monday, April 7th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $320.05.

Wingstop Stock Up 4.0 %

WING stock opened at $270.11 on Thursday. The company has a 50-day simple moving average of $226.65 and a 200 day simple moving average of $280.59. The company has a market capitalization of $7.54 billion, a P/E ratio of 72.81, a PEG ratio of 2.27 and a beta of 2.02. Wingstop has a fifty-two week low of $204.00 and a fifty-two week high of $433.86.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Wingstop had a net margin of 17.37% and a negative return on equity of 21.59%. The company had revenue of $171.09 million during the quarter, compared to analyst estimates of $172.25 million. During the same period in the prior year, the business posted $0.98 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Equities analysts anticipate that Wingstop will post 4.18 EPS for the current year.

Institutional Investors Weigh In On Wingstop

Several hedge funds have recently modified their holdings of WING. EverSource Wealth Advisors LLC increased its position in Wingstop by 521.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 73 shares during the period. CBIZ Investment Advisory Services LLC increased its holdings in shares of Wingstop by 62.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 35 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Wingstop by 93.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 62 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Wingstop in the fourth quarter valued at about $30,000. Finally, Signaturefd LLC grew its position in Wingstop by 106.9% during the first quarter. Signaturefd LLC now owns 149 shares of the restaurant operator’s stock worth $34,000 after buying an additional 77 shares in the last quarter.

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.