Wingstop (NASDAQ:WING) Upgraded at Melius Research

Melius Research upgraded shares of Wingstop (NASDAQ:WING) from a hold rating to a buy rating in a report issued on Tuesday morning, Marketbeat reports. The brokerage currently has $350.00 target price on the restaurant operator’s stock.

Several other brokerages have also recently issued reports on WING. Truist Financial dropped their target price on shares of Wingstop from $400.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Barclays increased their price target on Wingstop from $295.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Benchmark dropped their price target on Wingstop from $340.00 to $320.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Sanford C. Bernstein reduced their price objective on Wingstop from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Finally, Zacks Research downgraded Wingstop from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Four research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $340.00.

Wingstop Stock Performance

NASDAQ WING opened at $268.37 on Tuesday. Wingstop has a one year low of $204.00 and a one year high of $388.14. The stock has a 50-day moving average of $255.11 and a 200 day moving average of $276.89. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 43.71, a PEG ratio of 3.03 and a beta of 1.77.

Wingstop (NASDAQ:WING) last posted its earnings results on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.18. Wingstop had a net margin of 25.51% and a negative return on equity of 16.17%. The business had revenue of $175.74 million for the quarter, compared to analysts’ expectations of $189.10 million. During the same quarter in the prior year, the business earned $0.88 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts predict that Wingstop will post 4.18 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 21st were given a $0.30 dividend. The ex-dividend date was Friday, November 21st. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. Wingstop’s dividend payout ratio is presently 19.54%.

Insider Activity at Wingstop

In other news, Director Kilandigalu Madati sold 269 shares of Wingstop stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $259.97, for a total transaction of $69,931.93. Following the transaction, the director directly owned 5,283 shares of the company’s stock, valued at $1,373,421.51. The trade was a 4.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wingstop

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its position in shares of Wingstop by 1,650.0% in the third quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 99 shares during the period. Quaker Wealth Management LLC lifted its stake in shares of Wingstop by 134.2% during the 2nd quarter. Quaker Wealth Management LLC now owns 104 shares of the restaurant operator’s stock valued at $35,000 after buying an additional 408 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of Wingstop by 54.3% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 50 shares in the last quarter. Ameriflex Group Inc. bought a new position in Wingstop in the 2nd quarter worth $43,000. Finally, Hantz Financial Services Inc. boosted its holdings in Wingstop by 4,200.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 129 shares of the restaurant operator’s stock worth $43,000 after buying an additional 126 shares during the period.

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.