Bank of America Has Lowered Expectations for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its price target dropped by investment analysts at Bank of America from $430.00 to $420.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Bank of America‘s price objective would indicate a potential upside of 27.53% from the stock’s current price.

WING has been the subject of several other research reports. Morgan Stanley reissued an “overweight” rating and issued a $367.00 price target (up previously from $350.00) on shares of Wingstop in a report on Monday, July 14th. Raymond James Financial reissued an “outperform” rating and set a $400.00 price objective (down previously from $425.00) on shares of Wingstop in a research note on Thursday. The Goldman Sachs Group lifted their target price on Wingstop from $310.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Robert W. Baird boosted their price objective on Wingstop from $350.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 23rd. Finally, BTIG Research boosted their price objective on Wingstop from $350.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. Five analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $355.80.

Wingstop Stock Up 0.3%

WING stock opened at $329.34 on Friday. Wingstop has a twelve month low of $204.00 and a twelve month high of $433.86. The stock has a market cap of $9.19 billion, a P/E ratio of 55.17, a PEG ratio of 4.60 and a beta of 1.84. The business’s 50-day moving average price is $338.18 and its 200-day moving average price is $282.96.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Wingstop had a negative return on equity of 18.85% and a net margin of 26.45%. The business had revenue of $171.09 million for the quarter, compared to the consensus estimate of $172.25 million. During the same quarter in the previous year, the company posted $0.98 EPS. The company’s revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts expect that Wingstop will post 4.18 earnings per share for the current fiscal year.

Insider Activity at Wingstop

In other news, SVP Raj Kapoor sold 637 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $273.07, for a total transaction of $173,945.59. Following the completion of the transaction, the senior vice president directly owned 517 shares in the company, valued at approximately $141,177.19. The trade was a 55.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Skipworth sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total value of $3,373,400.00. Following the completion of the sale, the chief executive officer owned 47,190 shares of the company’s stock, valued at $15,919,074.60. This trade represents a 17.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Wingstop

Institutional investors and hedge funds have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. acquired a new position in shares of Wingstop in the first quarter worth $212,672,000. Alyeska Investment Group L.P. bought a new stake in Wingstop during the fourth quarter valued at about $151,802,000. Price T Rowe Associates Inc. MD boosted its holdings in Wingstop by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator’s stock valued at $371,517,000 after acquiring an additional 496,717 shares during the period. Norges Bank bought a new stake in Wingstop during the fourth quarter valued at about $106,123,000. Finally, Champlain Investment Partners LLC boosted its holdings in Wingstop by 130.7% during the first quarter. Champlain Investment Partners LLC now owns 631,989 shares of the restaurant operator’s stock valued at $142,564,000 after acquiring an additional 358,044 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.