Wingstop (NASDAQ:WING) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Wingstop (NASDAQ:WING) in a report issued on Wednesday morning,RTT News reports.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird lifted their target price on Wingstop from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 23rd. BMO Capital Markets lifted their price objective on Wingstop from $275.00 to $345.00 and gave the stock a “market perform” rating in a research note on Thursday, July 31st. Guggenheim lifted their price objective on Wingstop from $325.00 to $410.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Citigroup lifted their price objective on Wingstop from $296.00 to $321.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Finally, Bank of America decreased their price objective on Wingstop from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Four analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wingstop presently has an average rating of “Moderate Buy” and an average price target of $380.52.

Wingstop Price Performance

WING stock opened at $257.04 on Wednesday. The business has a fifty day moving average price of $319.31 and a 200 day moving average price of $293.70. Wingstop has a fifty-two week low of $204.00 and a fifty-two week high of $433.86. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 42.84, a P/E/G ratio of 3.28 and a beta of 1.87.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share 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 analysts’ expectations of $172.60 million. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The business’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $0.93 EPS. On average, equities analysts expect that Wingstop will post 4.18 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, August 15th. This is a boost from Wingstop’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 0.5%. Wingstop’s dividend payout ratio is currently 20.00%.

Insider Buying and Selling

In related news, CFO Alex Kaleida sold 5,400 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $376.09, for a total transaction of $2,030,886.00. Following the sale, the chief financial officer owned 8,362 shares in the company, valued at approximately $3,144,864.58. This represents a 39.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Skipworth sold 4,500 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 $1,666,530.00. Following the sale, the chief executive officer owned 42,777 shares in the company, 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 quarter, insiders have sold 21,838 shares of company stock worth $8,118,535. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Wingstop

Institutional investors and hedge funds have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB raised its holdings 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 acquiring an additional 62 shares in the last quarter. Signaturefd LLC increased 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 buying an additional 77 shares during the last quarter. Quaker Wealth Management LLC increased its position in Wingstop by 134.2% during the second quarter. Quaker Wealth Management LLC now owns 104 shares of the restaurant operator’s stock worth $35,000 after buying an additional 408 shares during the last quarter. Ameriflex Group Inc. acquired a new position in Wingstop during the second quarter worth approximately $43,000. Finally, Hantz Financial Services Inc. increased its position in Wingstop by 4,200.0% during the second quarter. Hantz Financial Services Inc. now owns 129 shares of the restaurant operator’s stock worth $43,000 after buying an additional 126 shares during the last quarter.

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.