Wingstop (NASDAQ:WING) Trading 6.6% Higher – Here’s Why

Wingstop Inc. (NASDAQ:WING) shares were up 6.6% during mid-day trading on Friday . The stock traded as high as $118.00 and last traded at $117.7830. Approximately 433,121 shares were traded during trading, a decline of 63% from the average daily volume of 1,161,402 shares. The stock had previously closed at $110.52.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on WING shares. Mizuho decreased their price target on shares of Wingstop from $280.00 to $240.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Citigroup decreased their target price on shares of Wingstop from $237.00 to $208.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Piper Sandler set a $173.00 target price on Wingstop in a report on Wednesday, July 29th. Wall Street Zen upgraded Wingstop from a “sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Stephens reiterated an “overweight” rating and set a $200.00 price objective on shares of Wingstop in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Wingstop presently has an average rating of “Moderate Buy” and an average price target of $240.33.

Wingstop Price Performance

The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 1.32 and a beta of 1.79. The business has a fifty day moving average of $128.15 and a 200 day moving average of $157.03.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.16. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The company had revenue of $185.56 million during the quarter, compared to analysts’ expectations of $190.25 million. During the same quarter last year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Wingstop Inc. will post 4.5 EPS for the current year.

Wingstop Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 5th. Stockholders of record on Saturday, August 15th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Wingstop’s previous quarterly dividend of $0.30. Wingstop’s dividend payout ratio (DPR) is currently 31.35%.

Institutional Trading of Wingstop

Several institutional investors and hedge funds have recently bought and sold shares of WING. BlackRock Inc. acquired a new stake in Wingstop during the 2nd quarter worth $481,314,000. TimesSquare Capital Management LLC acquired a new position in Wingstop in the second quarter valued at $15,874,000. Bank of New York Mellon Corp purchased a new position in shares of Wingstop during the second quarter worth about $80,456,000. Carnegie Investment Counsel grew its holdings in shares of Wingstop by 32.4% during the first quarter. Carnegie Investment Counsel now owns 68,489 shares of the restaurant operator’s stock worth $10,614,000 after purchasing an additional 16,764 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Wingstop in the 2nd quarter valued at about $3,287,000.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.