UBS Group Cuts Wingstop (NASDAQ:WING) Price Target to $300.00

Wingstop (NASDAQ:WING) had its target price reduced by research analysts at UBS Group from $330.00 to $300.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. UBS Group’s price objective suggests a potential upside of 22.15% from the company’s current price.

Several other analysts also recently issued reports on the company. BMO Capital Markets cut their price target on Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a report on Thursday. Piper Sandler cut their price target on Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Northcoast Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a report on Friday, November 1st. Wedbush cut their price target on Wingstop from $390.00 to $355.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Morgan Stanley cut their target price on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $370.30.

Wingstop Price Performance

Shares of NASDAQ WING traded down $19.42 during mid-day trading on Thursday, hitting $245.61. The company had a trading volume of 403,139 shares, compared to its average volume of 674,168. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 71.73, a PEG ratio of 2.75 and a beta of 1.81. Wingstop has a 12 month low of $244.00 and a 12 month high of $433.86. The firm’s 50 day simple moving average is $291.76 and its two-hundred day simple moving average is $341.94.

Wingstop declared that its Board of Directors has initiated a share buyback program on Thursday, December 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $324.38, for a total transaction of $86,285.08. Following the transaction, the senior vice president now owns 266 shares in the company, valued at approximately $86,285.08. The trade was a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.36% of the company’s stock.

Institutional Trading of Wingstop

A number of institutional investors have recently bought and sold shares of the company. Vise Technologies Inc. boosted its position in Wingstop by 57.1% during the fourth quarter. Vise Technologies Inc. now owns 949 shares of the restaurant operator’s stock valued at $270,000 after purchasing an additional 345 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Wingstop by 15.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,502 shares of the restaurant operator’s stock valued at $24,868,000 after purchasing an additional 11,577 shares during the last quarter. Twinbeech Capital LP boosted its position in Wingstop by 130.5% during the fourth quarter. Twinbeech Capital LP now owns 36,202 shares of the restaurant operator’s stock valued at $10,289,000 after purchasing an additional 20,493 shares during the last quarter. Tidal Investments LLC boosted its position in Wingstop by 4.9% during the fourth quarter. Tidal Investments LLC now owns 795 shares of the restaurant operator’s stock valued at $226,000 after purchasing an additional 37 shares during the last quarter. Finally, Teza Capital Management LLC lifted its position in shares of Wingstop by 29.9% in the fourth quarter. Teza Capital Management LLC now owns 3,075 shares of the restaurant operator’s stock worth $874,000 after buying an additional 707 shares during 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.