Wingstop (NASDAQ:WING) Price Target Cut to $285.00 by Analysts at Benchmark

Wingstop (NASDAQ:WING) had its target price cut by Benchmark from $320.00 to $285.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

WING has been the topic of several other reports. Loop Capital started coverage on Wingstop in a report on Friday, January 9th. They set a “buy” rating and a $317.00 target price on the stock. Wells Fargo & Company lowered their price target on Wingstop from $330.00 to $225.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Guggenheim dropped their price target on Wingstop from $315.00 to $255.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Melius Research set a $350.00 price objective on Wingstop in a report on Tuesday, January 20th. Finally, Citigroup upgraded Wingstop from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $286.00 to $230.00 in a research report on Tuesday, April 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $305.55.

Wingstop Stock Performance

WING opened at $199.01 on Monday. The firm’s fifty day moving average is $206.25 and its two-hundred day moving average is $237.32. The firm has a market cap of $5.44 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 2.21 and a beta of 2.03. Wingstop has a twelve month low of $142.24 and a twelve month high of $388.14.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share 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 company had revenue of $175.69 million for the quarter, compared to analysts’ expectations of $177.74 million. During the same period last year, the firm posted $0.92 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts forecast that Wingstop will post 4.54 EPS for the current fiscal year.

Wingstop Dividend Announcement

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

Insider Transactions at Wingstop

In other Wingstop news, Director Wesley S. Mcdonald sold 566 shares of Wingstop stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $250.00, for a total value of $141,500.00. Following the sale, the director owned 4,375 shares of the company’s stock, valued at $1,093,750. This trade represents a 11.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kilandigalu Madati sold 2,700 shares of Wingstop stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $260.73, for a total value of $703,971.00. Following the completion of the sale, the director directly owned 2,583 shares in the company, valued at $673,465.59. This represents a 51.11% decrease in their position. The SEC filing for this sale provides additional information. 0.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wingstop

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in Wingstop by 2.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,111,089 shares of the restaurant operator’s stock valued at $503,475,000 after acquiring an additional 58,386 shares in the last quarter. Lone Pine Capital LLC bought a new position in shares of Wingstop during the 3rd quarter worth approximately $375,317,000. Massachusetts Financial Services Co. MA grew its stake in shares of Wingstop by 48.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,405,894 shares of the restaurant operator’s stock worth $335,292,000 after acquiring an additional 456,861 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Wingstop by 6.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,173,613 shares of the restaurant operator’s stock valued at $279,895,000 after purchasing an additional 70,224 shares during the last quarter. Finally, Steadfast Capital Management LP raised its holdings in shares of Wingstop by 296.2% in the third quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock valued at $239,227,000 after purchasing an additional 710,621 shares during the last quarter.

About Wingstop

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.