Wingstop (NASDAQ:WING) Reaches New 1-Year Low – Here’s Why

Wingstop Inc. (NASDAQ:WING) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $207.13 and last traded at $209.69, with a volume of 27903 shares trading hands. The stock had previously closed at $214.16.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WING shares. Northcoast Research downgraded Wingstop from a “buy” rating to a “neutral” rating in a research report on Friday, February 21st. Benchmark dropped their target price on Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. UBS Group decreased their price target on Wingstop from $330.00 to $300.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Morgan Stanley dropped their price target on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Finally, Guggenheim raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price objective for the company in a research report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $357.67.

Wingstop Stock Up 3.7 %

The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 57.86, a PEG ratio of 2.27 and a beta of 1.88. The company’s fifty day moving average is $264.86 and its two-hundred day moving average is $320.00.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.50%. Wingstop’s payout ratio is currently 29.11%.

Wingstop announced that its Board of Directors has initiated a share buyback program on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in Wingstop by 521.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 73 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Wingstop by 62.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 35 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Wingstop in the 4th quarter valued at $30,000. True Wealth Design LLC acquired a new stake in Wingstop during the 3rd quarter worth $36,000. Finally, V Square Quantitative Management LLC lifted its position in Wingstop by 34.9% in the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock valued at $41,000 after acquiring an additional 37 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.