Wingstop Inc. (WING) Shares Up 1.6%
Wingstop Inc. (NASDAQ:WING)’s share price shot up 1.6% on Tuesday . The stock traded as high as $26.23 and last traded at $26.23, with a volume of 168,074 shares changing hands. The stock had previously closed at $25.82.
Several brokerages have weighed in on WING. Robert W. Baird began coverage on Wingstop in a report on Sunday, May 8th. They set a “buy” rating for the company. Zacks Investment Research lowered Wingstop from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Wedbush began coverage on Wingstop in a report on Wednesday, July 6th. They set an “outperform” rating and a $35.00 price objective for the company. Wells Fargo & Co. reissued a “market perform” rating and set a $26.00 price objective (up from $24.00) on shares of Wingstop in a report on Thursday, June 9th. Finally, Jefferies Group reissued a “buy” rating and set a $30.00 price objective (up from $28.00) on shares of Wingstop in a report on Saturday, May 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Wingstop has an average rating of “Buy” and a consensus target price of $29.89.
The company has a 50-day moving average price of $27.18 and a 200-day moving average price of $24.91. The company has a market capitalization of $752.81 million and a PE ratio of 63.20.
Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company earned $22.10 million during the quarter, compared to the consensus estimate of $21.46 million. Wingstop’s quarterly revenue was up 16.3% on a year-over-year basis. On average, equities research analysts anticipate that Wingstop Inc. will post $0.54 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Tuesday, July 12th were paid a dividend of $2.90 per share. The ex-dividend date was Friday, July 8th. This represents a $11.60 dividend on an annualized basis and a yield of 44.12%.
In other Wingstop news, insider David A. Vernon sold 17,206 shares of the business’s stock in a transaction on Monday, June 20th. The shares were sold at an average price of $27.57, for a total transaction of $474,369.42. Following the completion of the sale, the insider now directly owns 78,169 shares in the company, valued at approximately $2,155,119.33. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Skipworth sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $27.42, for a total transaction of $137,100.00. Following the sale, the insider now owns 5,000 shares of the company’s stock, valued at $137,100. The disclosure for this sale can be found here.
A number of large investors recently made changes to their positions in the stock. Morgan Stanley raised its stake in shares of Wingstop by 27.9% in the fourth quarter. Morgan Stanley now owns 448,853 shares of the company’s stock worth $10,238,000 after buying an additional 98,044 shares in the last quarter. Wells Fargo & Company MN raised its stake in Wingstop by 25.3% in the fourth quarter. Wells Fargo & Company MN now owns 437,661 shares of the company’s stock valued at $9,984,000 after buying an additional 88,254 shares during the period. JW Asset Management LLC raised its stake in Wingstop by 87.0% in the fourth quarter. JW Asset Management LLC now owns 116,057 shares of the company’s stock valued at $2,647,000 after buying an additional 54,000 shares during the period. OppenheimerFunds Inc. raised its stake in Wingstop by 10.8% in the fourth quarter. OppenheimerFunds Inc. now owns 316,201 shares of the company’s stock valued at $7,213,000 after buying an additional 30,891 shares during the period. Finally, Nationwide Fund Advisors raised its stake in Wingstop by 31.6% in the fourth quarter. Nationwide Fund Advisors now owns 46,687 shares of the company’s stock valued at $1,065,000 after buying an additional 11,212 shares during the period.
Wingstop Inc (Wingstop) is a franchisor and operator of restaurants that specializes in hand-sauced and tossed chicken wings. The Company offers around 11 flavors on its bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides made fresh daily. The Company operates business through two segments, which include Franchise segment and Company segment.
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