Wingstop (NASDAQ:WING) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Wingstop (NASDAQ:WING) had its price target lifted by investment analysts at Raymond James Financial from $400.00 to $420.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Raymond James Financial’s price target would suggest a potential upside of 15.88% from the company’s current price.

WING has been the topic of several other reports. Gordon Haskett upgraded Wingstop to a “strong-buy” rating in a report on Wednesday, April 30th. Westpark Capital upgraded Wingstop to a “strong-buy” rating in a report on Wednesday, July 9th. Piper Sandler assumed coverage on Wingstop in a report on Wednesday, July 9th. They set an “overweight” rating on the stock. Benchmark lifted their target price on Wingstop from $325.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Melius started coverage on Wingstop in a research note on Monday, July 14th. They issued a “hold” rating and a $350.00 price target on the stock. Five equities research 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 stock. According to MarketBeat, Wingstop presently has a consensus rating of “Moderate Buy” and an average price target of $379.52.

Wingstop Trading Down 3.9%

WING stock opened at $362.45 on Thursday. The business’s 50-day moving average price is $340.50 and its two-hundred day moving average price is $285.90. The firm has a market cap of $10.11 billion, a PE ratio of 60.41, a P/E/G ratio of 5.05 and a beta of 1.84. Wingstop has a 1-year low of $204.00 and a 1-year high of $433.86.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.12. The firm had revenue of $174.33 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.93 earnings per share. On average, analysts forecast that Wingstop will post 4.18 earnings per share for the current year.

Insider Buying and Selling

In other Wingstop 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 transaction, the senior vice president owned 517 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available 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 stock was sold at an average price of $370.34, for a total value of $1,666,530.00. Following the transaction, the chief executive officer directly owned 42,777 shares in the company, valued at approximately $15,842,034.18. This trade represents 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. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Wingstop

A number of institutional investors have recently bought and sold shares of WING. Commonwealth Equity Services LLC increased its position in Wingstop by 8.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,650 shares of the restaurant operator’s stock worth $469,000 after buying an additional 122 shares during the last quarter. LPL Financial LLC increased its position in Wingstop by 40.8% during the fourth quarter. LPL Financial LLC now owns 16,960 shares of the restaurant operator’s stock worth $4,820,000 after buying an additional 4,918 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Wingstop by 11.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,229 shares of the restaurant operator’s stock worth $1,202,000 after buying an additional 451 shares during the last quarter. Wellington Management Group LLP increased its position in Wingstop by 3.4% during the fourth quarter. Wellington Management Group LLP now owns 238,942 shares of the restaurant operator’s stock worth $67,907,000 after buying an additional 7,899 shares during the last quarter. Finally, Headlands Technologies LLC boosted its holdings in shares of Wingstop by 218.2% during the fourth quarter. Headlands Technologies LLC now owns 1,664 shares of the restaurant operator’s stock worth $473,000 after acquiring an additional 1,141 shares during the period.

About Wingstop

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.