Barclays Cuts Wingstop (NASDAQ:WING) Price Target to $380.00

Wingstop (NASDAQ:WING) had its price target decreased by Barclays from $470.00 to $380.00 in a research note released on Thursday, Benzinga reports. Barclays currently has an overweight rating on the restaurant operator’s stock.

Several other research analysts also recently weighed in on WING. BMO Capital Markets boosted their price target on Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Piper Sandler increased their target price on Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their price target on Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. BTIG Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price objective on the stock in a report on Thursday. Finally, Morgan Stanley boosted their target price on shares of Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, July 16th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $370.85.

Wingstop Trading Up 2.1 %

Shares of NASDAQ:WING traded up $6.10 on Thursday, hitting $293.79. The company had a trading volume of 294,552 shares, compared to its average volume of 450,362. The company has a market cap of $8.61 billion, a PE ratio of 83.87, a PEG ratio of 2.74 and a beta of 1.71. The business has a 50 day moving average of $392.16 and a 200 day moving average of $388.27. Wingstop has a 52-week low of $196.54 and a 52-week high of $433.86.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.09). The firm had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. Wingstop’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 earnings per share. As a group, equities analysts predict that Wingstop will post 3.81 EPS for the current year.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.37%. Wingstop’s dividend payout ratio is currently 31.49%.

Insider Activity

In other news, SVP Donnie Upshaw sold 3,199 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the completion of the sale, the senior vice president now directly owns 97 shares in the company, valued at $36,152.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

Several institutional investors and hedge funds have recently made changes to their positions in WING. Millennium Management LLC lifted its stake in Wingstop by 284.1% during the second quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock worth $161,957,000 after purchasing an additional 283,412 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Wingstop by 36.6% in the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after buying an additional 161,600 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Wingstop by 66.6% during the 2nd quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock valued at $137,753,000 after buying an additional 130,248 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Wingstop by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock valued at $1,071,473,000 after buying an additional 104,780 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Wingstop by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock worth $833,026,000 after acquiring an additional 101,917 shares during the period.

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.