Wingstop (NASDAQ:WING) Stock Gets Price Target Reduction from Citigroup

Wingstop (NASDAQ:WING) had its target price cut by Citigroup from $208.00 to $191.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings cut Wingstop from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. Benchmark cut their price target on shares of Wingstop from $285.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Stephens restated an “overweight” rating and set a $200.00 price target on shares of Wingstop in a research report on Thursday, July 30th. Bank of America reduced their price target on shares of Wingstop from $264.00 to $234.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Finally, Mizuho decreased their price objective on shares of Wingstop from $280.00 to $240.00 and set an “outperform” rating for the company in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.74.

Wingstop Stock Performance

Shares of Wingstop stock opened at $131.72 on Friday. The business’s fifty day simple moving average is $112.12 and its 200 day simple moving average is $138.84. The firm has a market capitalization of $3.59 billion, a P/E ratio of 31.29, a price-to-earnings-growth ratio of 1.58 and a beta of 1.81. Wingstop has a 12 month low of $95.82 and a 12 month high of $302.80.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. The business had revenue of $185.56 million for the quarter, compared to analysts’ expectations of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Analysts predict that Wingstop will post 4.46 EPS for the current fiscal year.

Wingstop Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 5th. Investors of record on Saturday, August 15th were paid a $0.33 dividend. The ex-dividend date was Friday, August 14th. This is a positive change from Wingstop’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.0%. Wingstop’s dividend payout ratio (DPR) is currently 31.35%.

Institutional Trading of Wingstop

A number of large investors have recently bought and sold shares of WING. BlackRock Inc. purchased a new stake in Wingstop during the 2nd quarter worth about $481,314,000. Darsana Capital Partners LP boosted its stake in Wingstop by 20.0% in the 2nd quarter. Darsana Capital Partners LP now owns 1,500,000 shares of the restaurant operator’s stock worth $260,115,000 after purchasing an additional 250,000 shares during the period. Alyeska Investment Group L.P. boosted its stake in Wingstop by 44.5% in the 2nd quarter. Alyeska Investment Group L.P. now owns 942,943 shares of the restaurant operator’s stock worth $163,516,000 after purchasing an additional 290,501 shares during the period. State Street Corp grew its holdings in Wingstop by 2.0% during the 2nd quarter. State Street Corp now owns 863,951 shares of the restaurant operator’s stock valued at $149,751,000 after buying an additional 16,907 shares in the last quarter. Finally, Jupiter Topco LLC purchased a new position in Wingstop during the 2nd quarter valued at about $147,440,000.

Wingstop Company Profile

Wingstop Inc is a restaurant company that specializes in made-to-order chicken wings and related menu items. Its offerings include classic and boneless wings prepared with a variety of signature flavors, as well as chicken sandwiches, tenders, seasoned fries, sides, dips and beverages. The company serves customers through dine-in, takeout, delivery and digital ordering channels.

Founded in 1994 in Garland, Texas, Wingstop has developed primarily as a franchised restaurant brand. The company supports its franchisees through brand marketing, restaurant development, operating systems, menu innovation and supply-chain coordination, while franchisees generally own and operate individual locations.