Wingstop (NASDAQ:WING) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Wingstop (NASDAQ:WING) had its price objective increased by equities researchers at Morgan Stanley from $367.00 to $405.00 in a research note issued on Thursday, Marketbeat reports. The firm currently has an “overweight” rating on the restaurant operator’s stock. Morgan Stanley’s target price indicates a potential upside of 11.74% from the company’s current price.

A number of other equities analysts also recently weighed in on WING. Guggenheim boosted their target price on shares of Wingstop from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Wolfe Research started coverage on shares of Wingstop in a report on Wednesday, July 9th. They set an “outperform” rating and a $280.00 target price on the stock. William Blair initiated coverage on shares of Wingstop in a report on Wednesday, July 9th. They set an “outperform” rating on the stock. Cowen reaffirmed a “buy” rating on shares of Wingstop in a research report on Thursday, May 1st. Finally, TD Securities reaffirmed a “buy” rating and set a $440.00 price objective on shares of Wingstop in a research report on Tuesday, June 17th. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Wingstop currently has a consensus rating of “Moderate Buy” and an average target price of $379.52.

Wingstop Stock Down 3.9%

NASDAQ WING opened at $362.45 on Thursday. Wingstop has a 12-month low of $204.00 and a 12-month high of $433.86. The company has a market capitalization of $10.11 billion, a PE ratio of 60.41, a price-to-earnings-growth ratio of 5.05 and a beta of 1.84. The firm’s 50 day moving average is $340.50 and its 200-day moving average is $285.90.

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

Insider Buying and Selling at Wingstop

In related news, CEO Michael Skipworth sold 4,500 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $370.34, for a total transaction 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. This represents a 9.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $4,421,118.92. The disclosure for this sale can be found here. In the last three months, insiders sold 32,475 shares of company stock worth $11,665,881. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Wingstop

Institutional investors and hedge funds have recently bought and sold shares of the company. Ameriflex Group Inc. bought a new stake in Wingstop during the second quarter worth about $43,000. MassMutual Private Wealth & Trust FSB lifted 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 worth $29,000 after purchasing an additional 62 shares during the period. True Wealth Design LLC lifted 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 worth $40,000 after purchasing an additional 54 shares during the period. Quarry LP bought a new stake in Wingstop during the fourth quarter worth about $41,000. Finally, Signaturefd LLC lifted 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 purchasing an additional 77 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.