Wingstop (NASDAQ:WING) PT Raised to $345.00

Wingstop (NASDAQ:WING) had its price target raised by Truist Financial from $320.00 to $345.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s target price suggests a potential downside of 11.21% from the stock’s current price.

Other analysts also recently issued reports about the stock. Wedbush increased their price target on shares of Wingstop from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday. BMO Capital Markets increased their target price on shares of Wingstop from $235.00 to $275.00 and gave the stock a “market perform” rating in a report on Thursday, February 22nd. Sanford C. Bernstein initiated coverage on shares of Wingstop in a report on Wednesday, February 14th. They issued an “outperform” rating and a $340.00 price target for the company. Benchmark reaffirmed a “hold” rating on shares of Wingstop in a research report on Thursday. Finally, TD Cowen reiterated a “buy” rating and issued a $410.00 price objective on shares of Wingstop in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $330.39.

Wingstop Stock Up 1.8 %

WING stock traded up $7.01 during midday trading on Thursday, reaching $388.55. The stock had a trading volume of 510,680 shares, compared to its average volume of 532,882. Wingstop has a twelve month low of $150.08 and a twelve month high of $396.00. The business has a fifty day simple moving average of $360.49 and a two-hundred day simple moving average of $288.00. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of 138.27, a PEG ratio of 6.30 and a beta of 1.67.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.22. The firm had revenue of $145.70 million for the quarter, compared to analysts’ expectations of $136.34 million. Wingstop had a net margin of 16.75% and a negative return on equity of 19.64%. The business’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. On average, equities analysts predict that Wingstop will post 3.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 transaction, the senior vice president now directly owns 1,646 shares of the company’s stock, valued at $612,246.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 17,107 shares in the company, valued at approximately $5,771,901.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Marisa Carona sold 2,586 shares of the firm’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 transaction, the senior vice president now directly owns 1,646 shares in the company, valued at $612,246.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,901 shares of company stock valued at $5,120,605. 0.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Congress Asset Management Co. MA raised its position in shares of Wingstop by 0.3% in the fourth quarter. Congress Asset Management Co. MA now owns 11,380 shares of the restaurant operator’s stock valued at $2,920,000 after buying an additional 34 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Wingstop by 16.9% during the 4th quarter. Quadrant Capital Group LLC now owns 263 shares of the restaurant operator’s stock worth $67,000 after purchasing an additional 38 shares in the last quarter. Kovack Advisors Inc. increased its position in shares of Wingstop by 1.7% in the fourth quarter. Kovack Advisors Inc. now owns 2,319 shares of the restaurant operator’s stock worth $595,000 after purchasing an additional 39 shares during the period. GAMMA Investing LLC raised its stake in Wingstop by 53.3% in the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 40 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in Wingstop by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 13,150 shares of the restaurant operator’s stock worth $2,365,000 after purchasing an additional 60 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.