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

Wingstop (NASDAQ:WING) had its target price cut by investment analysts at UBS Group from $330.00 to $300.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. UBS Group’s price target would indicate a potential upside of 22.15% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Northcoast Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target for the company in a research report on Friday, November 1st. BMO Capital Markets dropped their price objective on Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a research note on Thursday. The Goldman Sachs Group upgraded Wingstop from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $458.00 to $377.00 in a research note on Friday, November 8th. Piper Sandler dropped their price objective on Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Wingstop in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $370.30.

Wingstop Stock Down 7.3 %

Shares of NASDAQ:WING traded down $19.42 on Thursday, reaching $245.61. The company had a trading volume of 403,139 shares, compared to its average volume of 674,168. Wingstop has a twelve month low of $244.00 and a twelve month high of $433.86. The stock has a 50-day moving average price of $291.76 and a 200 day moving average price of $341.94. The stock has a market capitalization of $7.17 billion, a P/E ratio of 71.73, a P/E/G ratio of 2.75 and a beta of 1.81.

Wingstop declared that its Board of Directors has approved a stock repurchase 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 repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Wingstop

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the company’s 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 of the company’s stock, valued at approximately $86,285.08. This represents a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WING. American Century Companies Inc. lifted its stake in shares of Wingstop by 1.9% in the 4th quarter. American Century Companies Inc. now owns 1,206,062 shares of the restaurant operator’s stock valued at $342,763,000 after purchasing an additional 22,552 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Wingstop by 29.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,150,217 shares of the restaurant operator’s stock valued at $326,893,000 after purchasing an additional 262,229 shares during the period. State Street Corp lifted its stake in shares of Wingstop by 1.5% in the 3rd quarter. State Street Corp now owns 861,783 shares of the restaurant operator’s stock valued at $358,571,000 after purchasing an additional 12,549 shares during the period. Franklin Resources Inc. lifted its stake in shares of Wingstop by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator’s stock valued at $326,020,000 after purchasing an additional 7,204 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Wingstop by 23.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 801,732 shares of the restaurant operator’s stock valued at $227,852,000 after purchasing an additional 154,055 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.