Sanford C. Bernstein Boosts Wingstop (NASDAQ:WING) Price Target to $400.00

Wingstop (NASDAQ:WING) had its target price boosted by equities research analysts at Sanford C. Bernstein from $330.00 to $400.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 10.36% from the company’s current price.

A number of other research firms have also recently weighed in on WING. Westpark Capital raised shares of Wingstop to a “strong-buy” rating in a report on Wednesday, July 9th. Truist Financial raised shares of Wingstop from a “hold” rating to a “buy” rating and increased their price objective for the stock from $274.00 to $400.00 in a report on Tuesday, May 27th. Piper Sandler assumed coverage on shares of Wingstop in a report on Wednesday, July 9th. They issued an “overweight” rating on the stock. Cowen reaffirmed a “buy” rating on shares of Wingstop in a report on Thursday, May 1st. Finally, Bank of America dropped their price objective on shares of Wingstop from $430.00 to $420.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Five research 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 stock. Based on data from MarketBeat, Wingstop has a consensus rating of “Moderate Buy” and a consensus target price of $379.52.

Wingstop Stock Down 3.9%

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

Wingstop (NASDAQ:WING) last posted its 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. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%. The company had revenue of $174.33 million for the quarter, compared to analysts’ expectations of $172.60 million. During the same period last year, the business posted $0.93 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. Analysts expect that Wingstop will post 4.18 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Marisa Carona sold 11,938 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $370.34, for a total value of $4,421,118.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Raj Kapoor sold 637 shares of the 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 sale, the senior vice president directly owned 517 shares of the company’s stock, valued at $141,177.19. This trade represents a 55.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,475 shares of company stock worth $11,665,881 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriflex Group Inc. purchased a new position in Wingstop during the second quarter valued at approximately $43,000. MassMutual Private Wealth & Trust FSB raised its position in 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 acquiring an additional 62 shares in the last quarter. True Wealth Design LLC raised its position in Wingstop by 62.1% during the fourth quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator’s stock valued at $40,000 after acquiring an additional 54 shares in the last quarter. Quarry LP bought a new position in Wingstop during the fourth quarter valued at approximately $41,000. Finally, Signaturefd LLC raised its position in Wingstop by 106.9% during the first quarter. Signaturefd LLC now owns 149 shares of the restaurant operator’s stock valued at $34,000 after acquiring an additional 77 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.