Barclays Increases Wingstop (NASDAQ:WING) Price Target to $425.00

Wingstop (NASDAQ:WING) had its target price upped by Barclays from $418.00 to $425.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. Barclays‘s target price indicates a potential upside of 16.15% from the company’s previous close.

A number of other brokerages have also recently commented on WING. Stifel Nicolaus increased their price target on shares of Wingstop from $420.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. TD Cowen reissued a “buy” rating and set a $450.00 price target on shares of Wingstop in a research report on Wednesday. Jefferies Financial Group raised their price objective on Wingstop from $310.00 to $335.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. BMO Capital Markets increased their price target on Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Morgan Stanley lifted their price objective on shares of Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 16th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Wingstop has an average rating of “Hold” and a consensus price target of $348.63.

Wingstop Stock Performance

NASDAQ WING traded down $7.97 on Thursday, reaching $365.91. The company had a trading volume of 273,304 shares, compared to its average volume of 462,773. The company’s fifty day moving average is $394.47 and its 200-day moving average is $360.60. Wingstop has a 1-year low of $150.08 and a 1-year high of $431.03. The firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of 129.61, a price-to-earnings-growth ratio of 4.29 and a beta of 1.69.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. Wingstop had a net margin of 16.75% and a negative return on equity of 19.64%. The firm had revenue of $155.70 million for the quarter, compared to analyst estimates of $146.04 million. During the same period in the previous year, the business earned $0.57 EPS. The company’s revenue was up 45.3% compared to the same quarter last year. On average, research analysts forecast that Wingstop will post 3.47 earnings per share for the current year.

Insider Buying and Selling at Wingstop

In other news, SVP Albert G. Mcgrath sold 4,230 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the completion of the sale, the senior vice president now directly owns 8,170 shares of the company’s stock, valued at $3,238,588. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Kate S. Lavelle sold 750 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $394.57, for a total transaction of $295,927.50. Following the completion of the transaction, the director now directly owns 3,567 shares of the company’s stock, valued at approximately $1,407,431.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Albert G. Mcgrath sold 4,230 shares of Wingstop stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the completion of the transaction, the senior vice president now owns 8,170 shares of the company’s stock, valued at $3,238,588. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,191 shares of company stock valued at $2,443,547. Corporate insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

A number of large investors have recently modified their holdings of WING. Franklin Resources Inc. increased its stake in Wingstop by 155.7% in the 4th quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock worth $224,093,000 after acquiring an additional 531,880 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Wingstop in the fourth quarter worth approximately $103,899,000. Norges Bank purchased a new stake in Wingstop in the fourth quarter valued at approximately $80,423,000. 1832 Asset Management L.P. bought a new stake in Wingstop during the fourth quarter valued at approximately $78,616,000. Finally, Vanguard Group Inc. grew its stake in Wingstop by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock worth $1,071,473,000 after buying an additional 104,780 shares in the last quarter.

Wingstop Company Profile

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.