Wingstop (NASDAQ:WING) Price Target Raised to $425.00

Wingstop (NASDAQ:WING) had its price target hoisted by analysts at Wedbush from $400.00 to $425.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s price target would suggest a potential upside of 10.68% from the company’s previous close. Wedbush also issued estimates for Wingstop’s Q3 2024 earnings at $0.83 EPS, FY2024 earnings at $3.08 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $0.99 EPS and FY2025 earnings at $3.66 EPS.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets raised their target price on Wingstop from $235.00 to $275.00 and gave the company a “market perform” rating in a research note on Thursday, February 22nd. Stephens restated an “overweight” rating and set a $425.00 price objective on shares of Wingstop in a research note on Wednesday. Jefferies Financial Group lifted their price objective on Wingstop from $310.00 to $335.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Truist Financial reiterated a “hold” rating and set a $292.00 target price on shares of Wingstop in a research note on Monday, April 1st. Finally, Stifel Nicolaus lifted their price target on shares of Wingstop from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $299.17.

Wingstop Stock Performance

Shares of NASDAQ:WING opened at $383.98 on Thursday. The company has a market cap of $11.28 billion, a P/E ratio of 163.40, a PEG ratio of 6.61 and a beta of 1.67. Wingstop has a one year low of $150.08 and a one year high of $396.00. The business’s 50-day simple moving average is $357.08 and its 200 day simple moving average is $285.20.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The business had revenue of $127.06 million during the quarter, compared to the consensus estimate of $120.47 million. Wingstop had a net margin of 15.25% and a negative return on equity of 17.66%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Analysts predict that Wingstop will post 3.03 earnings per share for the current year.

Insider Buying and Selling at Wingstop

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

Institutional Investors Weigh In On Wingstop

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

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.