Wingstop (NASDAQ:WING) Price Target Raised to $418.00

Wingstop (NASDAQ:WING) had its price target increased by Barclays from $350.00 to $418.00 in a research report report published on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the restaurant operator’s stock.

A number of other brokerages also recently weighed in on WING. 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. Citigroup increased their target price on shares of Wingstop from $320.00 to $375.00 and gave the stock a neutral rating in a report on Wednesday, April 17th. Morgan Stanley boosted their price target on shares of Wingstop from $280.00 to $315.00 and gave the company an equal weight rating in a report on Friday, April 12th. Stephens reaffirmed an overweight rating and set a $425.00 price objective on shares of Wingstop in a research note on Wednesday. Finally, Wedbush lifted their target price on Wingstop from $400.00 to $425.00 and gave the stock an outperform rating in a report on Thursday. Eleven 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 currently has a consensus rating of Hold and an average target price of $330.39.

Wingstop Price Performance

Shares of NASDAQ WING opened at $388.55 on Thursday. The company’s 50 day simple moving average is $360.49 and its 200 day simple moving average is $288.72. Wingstop has a fifty-two week low of $150.08 and a fifty-two week high of $396.00. The firm has a market capitalization of $11.41 billion, a P/E ratio of 138.27, a P/E/G ratio of 6.42 and a beta of 1.67.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.22. The business had revenue of $145.70 million for the quarter, compared to analyst estimates of $136.34 million. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The firm’s revenue was up 34.0% on a year-over-year basis. During the same period last year, the company earned $0.59 EPS. Sell-side analysts expect that Wingstop will post 3.4 EPS for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.88 annualized dividend and a yield of 0.23%. Wingstop’s dividend payout ratio (DPR) is presently 31.32%.

Insider Transactions at Wingstop

In related news, SVP Marisa Carona sold 2,586 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was 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 in the company, valued at $612,246.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Michael Skipworth sold 10,843 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the sale, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Marisa Carona sold 2,586 shares of Wingstop stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $371.96, for a total value of $961,888.56. Following the transaction, the senior vice president now owns 1,646 shares of the company’s stock, valued at approximately $612,246.16. The disclosure for this sale can be found here. Insiders sold a total of 14,901 shares of company stock worth $5,120,605 in the last three months. Insiders own 0.36% of the company’s stock.

Institutional Trading of Wingstop

Hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC lifted its holdings in Wingstop by 64.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 2,859 shares of the restaurant operator’s stock valued at $514,000 after purchasing an additional 1,122 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Wingstop by 22.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,985 shares of the restaurant operator’s stock valued at $1,076,000 after buying an additional 1,093 shares during the last quarter. Strs Ohio raised its holdings in Wingstop by 101.1% in the 3rd quarter. Strs Ohio now owns 70,400 shares of the restaurant operator’s stock valued at $12,660,000 after acquiring an additional 35,400 shares during the period. Park Avenue Securities LLC acquired a new stake in Wingstop during the third quarter worth approximately $502,000. Finally, Whittier Trust Co. boosted its holdings in shares of Wingstop by 4.2% during the third quarter. Whittier Trust Co. now owns 22,813 shares of the restaurant operator’s stock worth $4,103,000 after acquiring an additional 916 shares during the period.

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.