Barclays Boosts Wingstop (NASDAQ:WING) Price Target to $440.00

Wingstop (NASDAQ:WING) had its price objective hoisted by investment analysts at Barclays from $410.00 to $440.00 in a report released on Thursday, Marketbeat.com reports. The firm currently has an “overweight” rating on the restaurant operator’s stock. Barclays‘s target price suggests a potential upside of 21.40% from the stock’s previous close.

A number of other analysts also recently issued reports on WING. Westpark Capital upgraded Wingstop to a “strong-buy” rating in a research report on Wednesday, July 9th. UBS Group dropped their price target on Wingstop from $300.00 to $255.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Truist Financial upgraded Wingstop from a “hold” rating to a “buy” rating and lifted their price target for the company from $274.00 to $400.00 in a research report on Tuesday, May 27th. Citigroup lifted their price target on Wingstop from $296.00 to $321.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Finally, BMO Capital Markets lifted their price target on Wingstop from $275.00 to $345.00 and gave the company a “market perform” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Wingstop has a consensus rating of “Moderate Buy” and an average target price of $379.52.

Wingstop Stock Down 3.9%

Shares of NASDAQ WING opened at $362.45 on Thursday. The company has a market cap of $10.11 billion, a P/E ratio of 60.41, a P/E/G ratio of 5.05 and a beta of 1.84. The business has a 50-day simple moving average of $340.50 and a two-hundred day simple moving average of $285.90. Wingstop has a 52 week low of $204.00 and a 52 week high of $433.86.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. The firm had revenue of $174.33 million during the quarter, compared to the consensus estimate of $172.60 million. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.93 EPS. Equities research analysts anticipate that Wingstop will post 4.18 EPS for the current year.

Insider Buying and Selling

In other Wingstop news, CFO Alex Kaleida sold 5,400 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $376.09, for a total value of $2,030,886.00. Following the completion of the sale, the chief financial officer owned 8,362 shares in the company, valued at approximately $3,144,864.58. The trade was a 39.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Skipworth sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $1,666,530.00. Following the completion of the sale, the chief executive officer owned 42,777 shares of the company’s stock, valued at $15,842,034.18. The trade was a 9.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,475 shares of company stock worth $11,665,881. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Wingstop

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 in the last quarter. American Century Companies Inc. raised its holdings in shares of Wingstop by 4.7% during the first quarter. American Century Companies Inc. now owns 1,262,597 shares of the restaurant operator’s stock valued at $284,817,000 after acquiring an additional 56,535 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Wingstop during the first quarter valued at approximately $212,672,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Wingstop by 23.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 801,732 shares of the restaurant operator’s stock valued at $227,852,000 after acquiring an additional 154,055 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its holdings in shares of Wingstop by 29.8% during the first quarter. Alyeska Investment Group L.P. now owns 693,115 shares of the restaurant operator’s stock valued at $156,353,000 after acquiring an additional 158,977 shares in the last quarter.

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.