Wingstop (NASDAQ:WING) Stock Price Up 9.6% – Here’s What Happened

Wingstop Inc. (NASDAQ:WING)’s stock price traded up 9.6% on Wednesday . The stock traded as high as $156.44 and last traded at $154.1660. 191,766 shares traded hands during trading, a decline of 83% from the average session volume of 1,134,849 shares. The stock had previously closed at $140.63.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WING shares. Wall Street Zen upgraded Wingstop from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Wells Fargo & Company reduced their price objective on Wingstop from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Guggenheim decreased their target price on Wingstop from $255.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Barclays lowered their target price on Wingstop from $330.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Citigroup reduced their target price on shares of Wingstop from $230.00 to $229.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Wingstop has an average rating of “Moderate Buy” and an average price target of $277.68.

Wingstop Price Performance

The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 39.21, a P/E/G ratio of 1.70 and a beta of 1.86. The business’s 50-day moving average price is $160.77 and its two-hundred day moving average price is $219.39.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.16. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The firm had revenue of $183.73 million for the quarter, compared to analysts’ expectations of $187.82 million. During the same period in the prior year, the company posted $0.99 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts predict that Wingstop Inc. will post 4.59 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, June 5th. Stockholders of record on Friday, May 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, May 15th. Wingstop’s dividend payout ratio is 29.85%.

Hedge Funds Weigh In On Wingstop

A number of hedge funds have recently bought and sold shares of the company. Cornerstone Planning Group LLC raised its stake in Wingstop by 1,650.0% during the third quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 99 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Wingstop by 76.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after acquiring an additional 60 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of Wingstop by 197.9% in the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after acquiring an additional 95 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of Wingstop by 54.3% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 50 shares in the last quarter. Finally, GW&K Investment Management LLC raised its position in shares of Wingstop by 75.7% during the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock valued at $45,000 after acquiring an additional 81 shares in the last quarter.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.