Wingstop (NASDAQ:WING) Trading Up 6.1% – Here’s Why

Wingstop Inc. (NASDAQ:WING) was up 6.1% during trading on Friday . The stock traded as high as $205.95 and last traded at $204.9390. Approximately 240,568 shares changed hands during trading, a decline of 72% from the average daily volume of 864,312 shares. The stock had previously closed at $193.11.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WING. Morgan Stanley reduced their target price on shares of Wingstop from $363.00 to $345.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Truist Financial set a $374.00 price target on shares of Wingstop and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Melius Research set a $350.00 price target on shares of Wingstop in a report on Tuesday, January 20th. TD Cowen reissued a “hold” rating and issued a $285.00 price objective on shares of Wingstop in a research report on Wednesday, February 18th. Finally, Royal Bank Of Canada dropped their target price on Wingstop from $350.00 to $340.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $337.29.

Wingstop Stock Performance

The company has a market cap of $5.59 billion, a P/E ratio of 32.92, a price-to-earnings-growth ratio of 2.22 and a beta of 1.82. The business’s fifty day moving average is $255.95 and its two-hundred day moving average is $256.81.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.16. Wingstop had a net margin of 25.01% and a negative return on equity of 16.12%. The business had revenue of $175.69 million for the quarter, compared to the consensus estimate of $177.74 million. During the same period in the prior year, the firm earned $0.92 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts expect that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, March 6th. Wingstop’s dividend payout ratio is 19.42%.

Insider Activity

In related news, Director Kilandigalu Madati sold 2,700 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $260.73, for a total transaction of $703,971.00. Following the completion of the sale, the director owned 2,583 shares of the company’s stock, valued at $673,465.59. This represents a 51.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wesley S. Mcdonald sold 566 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $250.00, for a total value of $141,500.00. Following the completion of the sale, the director directly owned 4,375 shares of the company’s stock, valued at $1,093,750. The trade was a 11.46% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Wingstop

Several hedge funds and other institutional investors have recently modified their holdings of WING. Baird Financial Group Inc. acquired a new position in Wingstop during the 1st quarter valued at approximately $256,000. Jones Financial Companies Lllp grew its holdings in shares of Wingstop by 2,770.6% during the first quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator’s stock valued at $440,000 after buying an additional 1,884 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Wingstop by 5.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,439 shares of the restaurant operator’s stock valued at $20,852,000 after acquiring an additional 4,937 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Wingstop by 121.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after acquiring an additional 119 shares during the period. Finally, Sivia Capital Partners LLC raised its stake in Wingstop by 45.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,387 shares of the restaurant operator’s stock worth $467,000 after acquiring an additional 434 shares during the last quarter.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.