Wingstop’s (WING) “Buy” Rating Reaffirmed at TD Securities

TD Securities restated their buy rating on shares of Wingstop (NASDAQ:WING) in a report released on Tuesday,Benzinga reports. They currently have a $440.00 price objective on the restaurant operator’s stock.

Several other equities analysts have also recently weighed in on WING. UBS Group cut their price objective on Wingstop from $300.00 to $255.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Barclays cut their price target on Wingstop from $315.00 to $260.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Benchmark cut their price target on Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Truist Financial raised Wingstop from a “hold” rating to a “buy” rating and upped their price target for the company from $274.00 to $400.00 in a report on Tuesday, May 27th. Finally, Bank of America upped their price target on Wingstop from $319.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $352.70.

Wingstop Stock Performance

NASDAQ WING opened at $350.32 on Tuesday. Wingstop has a twelve month low of $204.00 and a twelve month high of $433.86. The stock has a market capitalization of $9.77 billion, a PE ratio of 58.68, a P/E/G ratio of 4.90 and a beta of 1.88. The stock has a 50-day simple moving average of $298.11 and a 200 day simple moving average of $278.82.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.15. Wingstop had a negative return on equity of 18.85% and a net margin of 26.45%. The business had revenue of $171.09 million during the quarter, compared to analysts’ expectations of $172.25 million. During the same quarter in the previous year, the firm earned $0.98 EPS. The firm’s revenue was up 17.4% compared to the same quarter last year. As a group, equities research analysts forecast that Wingstop will post 4.18 EPS for the current fiscal year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.08 annualized dividend and a dividend yield of 0.31%. Wingstop’s dividend payout ratio is currently 18.09%.

Insider Activity

In related news, CEO Michael Skipworth sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total transaction of $3,373,400.00. Following the sale, the chief executive officer now directly owns 47,190 shares in the company, valued at $15,919,074.60. This represents a 17.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Raj Kapoor sold 637 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $273.07, for a total value of $173,945.59. Following the sale, the senior vice president now owns 517 shares in the company, valued at approximately $141,177.19. This trade represents a 55.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Wingstop

Large investors have recently bought and sold shares of the business. Proficio Capital Partners LLC bought a new stake in Wingstop during the 4th quarter worth approximately $10,177,000. Y Intercept Hong Kong Ltd lifted its holdings in Wingstop by 779.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator’s stock worth $5,247,000 after buying an additional 16,361 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Wingstop by 475.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator’s stock worth $19,676,000 after buying an additional 57,193 shares in the last quarter. Versor Investments LP lifted its holdings in Wingstop by 149.0% during the 4th quarter. Versor Investments LP now owns 5,309 shares of the restaurant operator’s stock worth $1,509,000 after buying an additional 3,177 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its holdings in Wingstop by 153.0% during the 4th quarter. Jupiter Asset Management Ltd. now owns 80,853 shares of the restaurant operator’s stock worth $22,978,000 after buying an additional 48,898 shares in 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.