Wells Fargo & Company Forecasts Strong Price Appreciation for Wingstop (NASDAQ:WING) Stock

Wingstop (NASDAQ:WING) had its price target raised by stock analysts at Wells Fargo & Company from $270.00 to $300.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 11.07% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on WING. Benchmark decreased their price objective on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Northcoast Research downgraded Wingstop from a “buy” rating to a “neutral” rating in a report on Friday, February 21st. Sanford C. Bernstein set a $260.00 price objective on Wingstop in a report on Tuesday, April 22nd. Stifel Nicolaus decreased their target price on Wingstop from $375.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Barclays dropped their price target on shares of Wingstop from $315.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $320.05.

Wingstop Price Performance

Shares of NASDAQ WING opened at $270.11 on Thursday. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 72.81, a price-to-earnings-growth ratio of 2.27 and a beta of 2.02. The stock’s 50-day moving average is $226.65 and its two-hundred day moving average is $280.59. Wingstop has a 1-year low of $204.00 and a 1-year high of $433.86.

Wingstop (NASDAQ:WING) last released its 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 firm had revenue of $171.09 million for the quarter, compared to analyst estimates of $172.25 million. During the same period in the prior year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities research analysts anticipate that Wingstop will post 4.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wingstop

Several hedge funds have recently modified their holdings of WING. American Century Companies Inc. raised its position in Wingstop by 1.9% during the 4th quarter. American Century Companies Inc. now owns 1,206,062 shares of the restaurant operator’s stock worth $342,763,000 after buying an additional 22,552 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Wingstop by 29.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,150,217 shares of the restaurant operator’s stock worth $326,893,000 after acquiring an additional 262,229 shares during the period. Franklin Resources Inc. lifted its position in Wingstop by 0.9% in the third quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator’s stock valued at $326,020,000 after purchasing an additional 7,204 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Wingstop by 23.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 801,732 shares of the restaurant operator’s stock valued at $227,852,000 after purchasing an additional 154,055 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Wingstop by 21.4% during the 4th quarter. Alliancebernstein L.P. now owns 573,999 shares of the restaurant operator’s stock worth $163,131,000 after purchasing an additional 101,247 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.