Wingstop (NASDAQ:WING) Price Target Increased to $375.00 by Analysts at Citigroup

Wingstop (NASDAQ:WING) had its price target raised by Citigroup from $320.00 to $375.00 in a report released on Wednesday, Benzinga reports. Citigroup currently has a neutral rating on the restaurant operator’s stock.

Several other equities research analysts have also commented on WING. Stephens began coverage on shares of Wingstop in a report on Friday, April 12th. They issued an overweight rating and a $425.00 price target for the company. Wedbush boosted their price target on shares of Wingstop from $330.00 to $340.00 and gave the company an outperform rating in a report on Thursday, February 22nd. Stifel Nicolaus boosted their price target on shares of Wingstop from $270.00 to $330.00 and gave the company a buy rating in a report on Friday, February 16th. Truist Financial restated a hold rating and issued a $292.00 price target on shares of Wingstop in a report on Monday, April 1st. Finally, Sanford C. Bernstein began coverage on shares of Wingstop in a report on Wednesday, February 14th. They issued an outperform rating and a $340.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wingstop currently has an average rating of Hold and an average price target of $290.83.

Wingstop Price Performance

Shares of WING opened at $359.57 on Wednesday. Wingstop has a 1-year low of $150.08 and a 1-year high of $379.00. The company has a 50-day moving average of $346.29 and a 200 day moving average of $272.61. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 153.01, a PEG ratio of 6.57 and a beta of 1.68.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Wingstop had a net margin of 15.25% and a negative return on equity of 17.66%. The company had revenue of $127.06 million during the quarter, compared to analyst estimates of $120.47 million. During the same quarter last year, the business posted $0.60 EPS. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, equities analysts anticipate that Wingstop will post 3 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.24%. The ex-dividend date was Thursday, March 7th. Wingstop’s dividend payout ratio is presently 37.45%.

Insiders Place Their Bets

In other Wingstop news, SVP Marisa Carona sold 2,586 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $371.96, for a total transaction of $961,888.56. Following the sale, the senior vice president now owns 1,646 shares of the company’s stock, valued at approximately $612,246.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Wingstop news, SVP Marisa Carona sold 2,586 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $371.96, for a total transaction of $961,888.56. Following the sale, the senior vice president now owns 1,646 shares of the company’s stock, valued at approximately $612,246.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the sale, the chief executive officer now directly owns 17,107 shares in the company, valued at approximately $5,771,901.80. 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. Insiders own 0.36% of the company’s stock.

Institutional Trading of Wingstop

Several large investors have recently made changes to their positions in WING. Alliancebernstein L.P. boosted its holdings in shares of Wingstop by 1,176.9% in the 4th quarter. Alliancebernstein L.P. now owns 899,336 shares of the restaurant operator’s stock valued at $123,767,000 after acquiring an additional 828,904 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Wingstop by 155.7% in the 4th quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock valued at $224,093,000 after acquiring an additional 531,880 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Wingstop in the 4th quarter valued at $61,571,000. Artisan Partners Limited Partnership boosted its holdings in shares of Wingstop by 64.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,079,939 shares of the restaurant operator’s stock valued at $194,216,000 after acquiring an additional 422,727 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Wingstop in the 4th quarter valued at $103,899,000.

Wingstop Company Profile

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.