Wingstop (NASDAQ:WING) Given New $240.00 Price Target at Mizuho

Wingstop (NASDAQ:WING) had its target price decreased by equities research analysts at Mizuho from $280.00 to $240.00 in a report issued on Friday. The firm currently has an “outperform” rating on the restaurant operator’s stock. Mizuho’s target price would suggest a potential upside of 77.96% from the company’s previous close.

A number of other research firms have also recently issued reports on WING. Weiss Ratings cut shares of Wingstop from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Bank of America cut their target price on Wingstop from $264.00 to $234.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Piper Sandler upgraded Wingstop from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $283.00 to $190.00 in a research note on Thursday, April 2nd. Morgan Stanley reaffirmed an “overweight” rating and set a $255.00 price target on shares of Wingstop in a research report on Thursday, April 30th. Finally, Stephens set a $200.00 price target on Wingstop in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.81.

Wingstop Stock Performance

Wingstop stock opened at $134.86 on Friday. The stock has a market cap of $3.67 billion, a PE ratio of 33.55, a price-to-earnings-growth ratio of 1.65 and a beta of 1.79. The stock has a 50-day moving average of $151.62 and a two-hundred day moving average of $193.22. Wingstop has a one year low of $116.35 and a one year high of $381.45.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data 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. The firm had revenue of $183.72 million for the quarter, compared to the consensus estimate of $187.82 million. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.99 earnings per share. As a group, sell-side analysts predict that Wingstop will post 4.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steadfast Capital Management LP grew its holdings in Wingstop by 296.2% during the third quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock worth $239,227,000 after acquiring an additional 710,621 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Wingstop by 48.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,405,894 shares of the restaurant operator’s stock valued at $335,292,000 after acquiring an additional 456,861 shares during the period. Atreides Management LP acquired a new position in Wingstop in the fourth quarter valued at approximately $93,012,000. Wasatch Advisors LP acquired a new stake in shares of Wingstop during the 2nd quarter worth approximately $114,758,000. Finally, Norges Bank purchased a new position in shares of Wingstop during the 4th quarter valued at approximately $77,331,000.

About Wingstop

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.