Wingstop (NASDAQ:WING) Given New $461.00 Price Target at Bank of America

Wingstop (NASDAQ:WING) had its price objective boosted by Bank of America from $421.00 to $461.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Other analysts have also issued reports about the company. Stephens reiterated an overweight rating and set a $425.00 price target on shares of Wingstop in a report on Wednesday, May 1st. Robert W. Baird lifted their target price on Wingstop from $390.00 to $405.00 and gave the stock an outperform rating in a research note on Thursday. Stifel Nicolaus increased their price target on shares of Wingstop from $270.00 to $330.00 and gave the company a buy rating in a research report on Friday, February 16th. Wedbush lifted their price objective on shares of Wingstop from $400.00 to $425.00 and gave the stock an outperform rating in a research report on Thursday. Finally, TD Cowen reiterated a buy rating and issued a $410.00 target price on shares of Wingstop in a research note on Wednesday, May 1st. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $330.39.

Wingstop Price Performance

NASDAQ WING opened at $388.55 on Thursday. The company has a fifty day moving average price of $360.49 and a 200-day moving average price of $289.47. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of 138.27, a PEG ratio of 6.42 and a beta of 1.67. Wingstop has a 1 year low of $150.08 and a 1 year high of $396.00.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.22. The business had revenue of $145.70 million during the quarter, compared to the consensus estimate of $136.34 million. Wingstop had a net margin of 16.75% and a negative return on equity of 19.64%. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. On average, research analysts anticipate that Wingstop will post 3.4 EPS for the current fiscal year.

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.23%. Wingstop’s payout ratio is 31.32%.

Insider Buying and Selling

In other Wingstop news, Director Kilandigalu Madati sold 1,472 shares of Wingstop stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $339.87, for a total transaction of $500,288.64. Following the completion of the transaction, the director now owns 5,450 shares of the company’s stock, valued at approximately $1,852,291.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Wingstop news, SVP Marisa Carona sold 2,586 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $371.96, for a total value of $961,888.56. Following the sale, the senior vice president now directly owns 1,646 shares in the company, valued at approximately $612,246.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kilandigalu Madati sold 1,472 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $339.87, for a total transaction of $500,288.64. Following the transaction, the director now owns 5,450 shares of the company’s stock, valued at $1,852,291.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,901 shares of company stock valued at $5,120,605. Corporate insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Wingstop

A number of institutional investors and hedge funds have recently made changes to their positions in WING. Nisa Investment Advisors LLC increased its stake in Wingstop by 542.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,773 shares of the restaurant operator’s stock worth $2,764,000 after acquiring an additional 9,097 shares during the last quarter. Comerica Bank purchased a new position in shares of Wingstop during the third quarter worth about $4,021,000. Strs Ohio increased its position in shares of Wingstop by 12.4% in the fourth quarter. Strs Ohio now owns 79,100 shares of the restaurant operator’s stock worth $20,295,000 after purchasing an additional 8,700 shares during the last quarter. Teza Capital Management LLC purchased a new stake in Wingstop in the third quarter valued at approximately $1,961,000. Finally, Legato Capital Management LLC lifted its position in Wingstop by 5.6% during the fourth quarter. Legato Capital Management LLC now owns 1,605 shares of the restaurant operator’s stock valued at $412,000 after purchasing an additional 85 shares during the last quarter.

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.