Piper Sandler Has Lowered Expectations for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its price target reduced by Piper Sandler from $375.00 to $300.00 in a research note released on Monday, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

A number of other research firms have also recently commented on WING. Northcoast Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 target price for the company in a report on Friday. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price on the stock in a report on Thursday, October 31st. Truist Financial raised their price objective on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Raymond James upgraded Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Thursday, August 1st. Finally, Benchmark raised Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective for the company in a report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $375.63.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $297.18 on Monday. Wingstop has a 52-week low of $204.01 and a 52-week high of $433.86. The firm has a 50 day moving average price of $388.10 and a 200 day moving average price of $387.45. The stock has a market cap of $8.68 billion, a P/E ratio of 86.64, a P/E/G ratio of 2.74 and a beta of 1.76.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). The business had revenue of $162.50 million during the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The business’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. Analysts predict that Wingstop will post 3.72 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a yield of 0.36%. Wingstop’s dividend payout ratio (DPR) is presently 31.49%.

Insider Transactions at Wingstop

In related news, SVP Donnie Upshaw sold 3,199 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $372.71, for a total value of $1,192,299.29. Following the transaction, the senior vice president now owns 97 shares in the company, valued at $36,152.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fulton Bank N.A. increased its position in Wingstop by 5.0% during the 3rd quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock worth $228,000 after purchasing an additional 26 shares during the period. CIBC Asset Management Inc lifted its stake in Wingstop by 3.7% in the 2nd quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock valued at $347,000 after buying an additional 29 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in Wingstop by 4.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 752 shares of the restaurant operator’s stock valued at $318,000 after acquiring an additional 31 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after buying an additional 35 shares during the last quarter. Finally, Hollencrest Capital Management increased its holdings in shares of Wingstop by 53.8% during the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock worth $42,000 after buying an additional 35 shares during 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.