Truist Financial Increases Wingstop (NASDAQ:WING) Price Target to $407.00

Wingstop (NASDAQ:WINGGet Free Report) had its target price lifted by Truist Financial from $393.00 to $407.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s price target points to a potential upside of 6.37% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group raised their price target on Wingstop from $310.00 to $335.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. The Goldman Sachs Group began coverage on shares of Wingstop in a report on Thursday, June 13th. They issued a “neutral” rating and a $407.00 price target for the company. Morgan Stanley boosted their price objective on shares of Wingstop from $280.00 to $315.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Robert W. Baird raised their target price on Wingstop from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, Bank of America boosted their price target on Wingstop from $421.00 to $461.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wingstop currently has a consensus rating of “Hold” and a consensus price target of $353.17.

View Our Latest Stock Analysis on WING

Wingstop Price Performance

Shares of WING opened at $382.61 on Tuesday. Wingstop has a 1 year low of $150.08 and a 1 year high of $431.03. The company has a 50 day simple moving average of $398.37 and a two-hundred day simple moving average of $348.12. The firm has a market cap of $11.21 billion, a P/E ratio of 136.16, a price-to-earnings-growth ratio of 5.19 and a beta of 1.69.

Wingstop (NASDAQ:WINGGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.22. Wingstop had a net margin of 16.75% and a negative return on equity of 19.64%. The company had revenue of $145.70 million during the quarter, compared to analysts’ expectations of $136.34 million. During the same period in the previous year, the company earned $0.59 EPS. The firm’s quarterly revenue was up 34.0% on a year-over-year basis. On average, sell-side analysts anticipate that Wingstop will post 3.4 earnings per share for the current year.

Insider Buying and Selling at Wingstop

In related news, Director Kilandigalu Madati sold 645 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $395.74, for a total value of $255,252.30. Following the transaction, the director now directly owns 5,147 shares of the company’s stock, valued at approximately $2,036,873.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Wingstop news, Director Ania Smith sold 566 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $380.91, for a total value of $215,595.06. Following the completion of the sale, the director now owns 1,164 shares of the company’s stock, valued at $443,379.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kilandigalu Madati sold 645 shares of Wingstop stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $395.74, for a total transaction of $255,252.30. Following the sale, the director now directly owns 5,147 shares in the company, valued at approximately $2,036,873.78. The disclosure for this sale can be found here. Insiders sold 6,191 shares of company stock worth $2,443,547 in the last 90 days. 0.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WING. CWM LLC grew its position in Wingstop by 206.6% in the 2nd quarter. CWM LLC now owns 2,287 shares of the restaurant operator’s stock worth $967,000 after purchasing an additional 1,541 shares during the last quarter. Park Avenue Securities LLC grew its holdings in Wingstop by 11.8% in the 2nd quarter. Park Avenue Securities LLC now owns 2,978 shares of the restaurant operator’s stock worth $1,259,000 after buying an additional 315 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Wingstop by 238.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,028 shares of the restaurant operator’s stock valued at $3,816,000 after acquiring an additional 6,359 shares during the period. Fulton Bank N.A. bought a new stake in Wingstop during the 2nd quarter valued at $220,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Wingstop during the 2nd quarter worth $356,000.

About Wingstop

(Get Free Report)

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.

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