Wingstop (NASDAQ:WING) Stock Price Breaks Above 200 Day Moving Average – What’s Next?

Wingstop Inc. (NASDAQ:WING) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $162.93 and traded as high as $175.00. Wingstop shares last traded at $167.62, with a volume of 1,529,047 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Wingstop from $165.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Weiss Ratings downgraded shares of Wingstop from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. BMO Capital Markets reissued a “market perform” rating and issued a $160.00 price objective on shares of Wingstop in a report on Thursday, October 29th. BNP Paribas Exane restated an “outperform” rating and issued a $182.00 price objective (down from $203.00) on shares of Wingstop in a report on Thursday, October 29th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Wingstop in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $219.56.

Wingstop Stock Up 3.7%

The company has a fifty day moving average price of $118.02 and a two-hundred day moving average price of $162.93. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 39.35, a P/E/G ratio of 2.14 and a beta of 1.77.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, October 28th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. Wingstop had a negative return on equity of 15.80% and a net margin of 16.03%. The firm had revenue of $185.13 million for the quarter, compared to analysts’ expectations of $192.89 million. During the same quarter in the previous year, the firm posted $1.09 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that Wingstop Inc. will post 4.19 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, November 13th. Wingstop’s dividend payout ratio (DPR) is presently 30.99%.

Insider Buying and Selling at Wingstop

In related news, COO Raj Kapoor sold 2,500 shares of Wingstop stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $163.61, for a total transaction of $409,025.00. Following the completion of the sale, the chief operating officer owned 1,659 shares in the company, valued at approximately $271,428.99. This trade represents a 60.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wesley S. Mcdonald sold 1,520 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $145.11, for a total transaction of $220,567.20. Following the completion of the transaction, the director owned 3,986 shares in the company, valued at approximately $578,408.46. This trade represents a 27.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WING. Fulcrum Asset Management LLP lifted its position in Wingstop by 25,135.3% during the third quarter. Fulcrum Asset Management LLP now owns 12,870 shares of the restaurant operator’s stock worth $1,398,000 after buying an additional 12,819 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in Wingstop by 45.5% during the third quarter. Kornitzer Capital Management Inc. KS now owns 9,455 shares of the restaurant operator’s stock worth $996,000 after buying an additional 2,955 shares during the period. Parallel Advisors LLC boosted its position in Wingstop by 59.9% during the 3rd quarter. Parallel Advisors LLC now owns 1,022 shares of the restaurant operator’s stock worth $108,000 after purchasing an additional 383 shares during the period. CenterBook Partners LP acquired a new stake in shares of Wingstop in the third quarter valued at about $2,256,000. Finally, Bridge City Capital LLC grew its position in Wingstop by 21.4% in the third quarter. Bridge City Capital LLC now owns 16,443 shares of the restaurant operator’s stock valued at $1,733,000 after acquiring an additional 2,902 shares in the last quarter.

Wingstop Company Profile

Wingstop Inc is a franchised restaurant company specializing in cooked-to-order chicken wings and related menu items. Its offerings include classic and boneless wings prepared with a range of flavors, along with chicken sandwiches, tenders, fries, seasoned fries, dips, sides and beverages. The company emphasizes made-to-order food, a digital ordering experience and a menu centered on customizable chicken meals.

Founded in 1994 in Garland, Texas, Wingstop has expanded from a single restaurant into a global brand operated primarily through franchised locations.