Wingstop (NASDAQ:WING) Rating Increased to Buy at Melius

Melius upgraded shares of Wingstop (NASDAQ:WING) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat.com reports. The firm currently has $350.00 price target on the restaurant operator’s stock.

Other equities research analysts have also recently issued reports about the stock. BTIG Research dropped their target price on shares of Wingstop from $430.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Truist Financial decreased their price target on shares of Wingstop from $400.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Melius Research set a $350.00 price objective on shares of Wingstop in a report on Tuesday. Royal Bank Of Canada lifted their price objective on Wingstop from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Finally, Loop Capital began coverage on Wingstop in a research report on Friday, January 9th. They issued a “buy” rating and a $317.00 target price for the company. Four investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Wingstop has a consensus rating of “Moderate Buy” and a consensus price target of $340.34.

Wingstop Price Performance

Shares of NASDAQ:WING opened at $270.24 on Tuesday. The stock’s 50-day moving average is $253.98 and its 200 day moving average is $277.04. The company has a market cap of $7.51 billion, a PE ratio of 44.01, a P/E/G ratio of 3.15 and a beta of 1.77. Wingstop has a 1 year low of $204.00 and a 1 year high of $388.14.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.18. The firm had revenue of $175.74 million for the quarter, compared to analyst estimates of $189.10 million. Wingstop had a negative return on equity of 16.17% and a net margin of 25.51%.The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS. Analysts expect that Wingstop will post 4.18 EPS for the current fiscal year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 21st were issued a dividend of $0.30 per share. The ex-dividend date was Friday, November 21st. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. Wingstop’s dividend payout ratio (DPR) is presently 19.54%.

Insider Activity

In related news, Director Kilandigalu Madati sold 269 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $259.97, for a total value of $69,931.93. Following the transaction, the director owned 5,283 shares in the company, valued at $1,373,421.51. The trade was a 4.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WING. Baird Financial Group Inc. bought a new stake in shares of Wingstop during the first quarter valued at approximately $256,000. Jones Financial Companies Lllp boosted its stake in Wingstop by 2,770.6% during the 1st quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator’s stock valued at $440,000 after purchasing an additional 1,884 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings 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 worth $20,852,000 after purchasing an additional 4,937 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings 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 worth $49,000 after purchasing an additional 119 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Wingstop by 22.3% in the second quarter. Parallel Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $61,000 after purchasing an additional 33 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.