Wingstop (NASDAQ:WING) Upgraded by Guggenheim to “Buy” Rating

Guggenheim upgraded shares of Wingstop (NASDAQ:WING) from a neutral rating to a buy rating in a research report released on Monday morning, Marketbeat.com reports. The firm currently has $280.00 target price on the restaurant operator’s stock.

WING has been the topic of a number of other reports. Northcoast Research cut shares of Wingstop from a “buy” rating to a “neutral” rating in a research note on Friday, February 21st. UBS Group dropped their price objective on Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Morgan Stanley reduced their price objective on Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Stephens restated an “overweight” rating and issued a $450.00 target price on shares of Wingstop in a research note on Wednesday, February 19th. Finally, TD Cowen cut their price target on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $362.90.

Wingstop Price Performance

NASDAQ WING opened at $227.81 on Monday. The business’s fifty day moving average is $285.41 and its 200-day moving average is $337.49. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 61.40, a PEG ratio of 2.27 and a beta of 1.81. Wingstop has a one year low of $227.65 and a one year high of $433.86.

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.47%. Wingstop’s dividend payout ratio (DPR) 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 repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at Wingstop

In related news, SVP Raj Kapoor sold 266 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the sale, the senior vice president now directly owns 266 shares of the company’s stock, valued at $86,285.08. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wingstop

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC bought a new stake in shares of Wingstop during the 3rd quarter worth $36,000. EverSource Wealth Advisors LLC raised its position in Wingstop by 521.4% during 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 lifted its stake in Wingstop by 62.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 35 shares during the last quarter. Hollencrest Capital Management boosted its holdings in shares of Wingstop by 53.8% in the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 35 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Wingstop during the 4th quarter valued at about $30,000.

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.