Wingstop (NASDAQ:WING) Price Target Raised to $407.00

Wingstop (NASDAQ:WING) had its target price hoisted by Truist Financial from $393.00 to $407.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a hold rating on the restaurant operator’s stock.

WING has been the topic of several other research reports. BMO Capital Markets boosted their price target on shares of Wingstop from $275.00 to $325.00 and gave the stock a market perform rating in a research report on Thursday, May 2nd. Jefferies Financial Group boosted their price target on shares of Wingstop from $310.00 to $335.00 and gave the stock a hold rating in a research report on Tuesday, April 16th. Barclays boosted their price objective on shares of Wingstop from $350.00 to $418.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Bank of America boosted their price objective on shares of Wingstop from $421.00 to $461.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Finally, Benchmark reiterated a hold rating on shares of Wingstop in a research report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $353.17.

Wingstop Stock Performance

WING stock opened at $383.60 on Tuesday. Wingstop has a one year low of $150.08 and a one year high of $431.03. The company’s fifty day moving average price is $398.41 and its 200-day moving average price is $348.37. The company has a market capitalization of $11.24 billion, a PE ratio of 136.51, a price-to-earnings-growth ratio of 4.86 and a beta of 1.69.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.22. Wingstop had a net margin of 16.75% and a negative return on equity of 19.64%. The company had revenue of $145.70 million for the quarter, compared to analysts’ expectations of $136.34 million. During the same quarter in the previous year, the business posted $0.59 earnings per share. Wingstop’s quarterly revenue was up 34.0% on a year-over-year basis. On average, research analysts predict that Wingstop will post 3.42 EPS for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 17th were issued a $0.22 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.88 annualized dividend and a yield of 0.23%. Wingstop’s dividend payout ratio (DPR) is presently 31.32%.

Insider Transactions at Wingstop

In other news, Director Ania Smith sold 566 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $380.91, for a total transaction of $215,595.06. Following the sale, the director now owns 1,164 shares of the company’s stock, valued at approximately $443,379.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ania Smith sold 566 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $380.91, for a total transaction of $215,595.06. Following the sale, the director now owns 1,164 shares of the company’s stock, valued at approximately $443,379.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kilandigalu Madati sold 645 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $395.74, for a total value of $255,252.30. Following the transaction, the director now owns 5,147 shares in the company, valued at approximately $2,036,873.78. The disclosure for this sale can be found here. Insiders have sold 6,191 shares of company stock valued at $2,443,547 in the last 90 days. 0.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Wingstop during the 4th quarter valued at approximately $28,000. Rise Advisors LLC purchased a new position in Wingstop in the 1st quarter valued at $29,000. FSC Wealth Advisors LLC purchased a new position in Wingstop in the 4th quarter valued at $39,000. Massmutual Trust Co. FSB ADV lifted its holdings in Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 35 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Wingstop by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 40 shares in 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.