Several other brokerages have also weighed in on WING. Piper Jaffray Companies increased their price objective on shares of Wingstop from $88.00 to $108.00 and gave the company an overweight rating in a research report on Monday, July 15th. SunTrust Banks upped their price target on shares of Wingstop to $102.00 and gave the company a buy rating in a research note on Friday, August 2nd. Goldman Sachs Group began coverage on shares of Wingstop in a research note on Monday, July 29th. They issued a buy rating and a $135.00 price target on the stock. Stephens downgraded shares of Wingstop from an overweight rating to an equal weight rating and set a $93.00 price target on the stock. in a research note on Friday, June 28th. Finally, Stifel Nicolaus upped their price target on shares of Wingstop from $92.00 to $100.00 and gave the company a buy rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $89.93.
Shares of WING opened at $99.69 on Tuesday. The firm has a market capitalization of $2.94 billion, a PE ratio of 118.68, a PEG ratio of 6.82 and a beta of 0.84. The company’s 50-day moving average is $95.82 and its 200-day moving average is $81.14. Wingstop has a fifty-two week low of $56.95 and a fifty-two week high of $101.70.
Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Thursday, August 1st. The restaurant operator reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The company had revenue of $48.56 million for the quarter, compared to analyst estimates of $47.53 million. Wingstop had a net margin of 11.54% and a negative return on equity of 11.09%. The company’s revenue was up 31.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 earnings per share. As a group, sell-side analysts expect that Wingstop will post 0.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This is an increase from Wingstop’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. Wingstop’s dividend payout ratio is 42.86%.
In other Wingstop news, insider Lawrence Kruguer sold 1,466 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $79.72, for a total transaction of $116,869.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Hislop sold 5,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $93.74, for a total transaction of $468,700.00. The disclosure for this sale can be found here. Insiders sold 11,846 shares of company stock worth $1,060,821 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in WING. Invesco Ltd. grew its stake in Wingstop by 375.0% during the second quarter. Invesco Ltd. now owns 1,165,972 shares of the restaurant operator’s stock worth $110,476,000 after buying an additional 920,513 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Wingstop by 1,486.9% during the second quarter. Nuveen Asset Management LLC now owns 285,846 shares of the restaurant operator’s stock worth $27,083,000 after buying an additional 267,833 shares in the last quarter. Morgan Stanley grew its stake in Wingstop by 98.4% during the second quarter. Morgan Stanley now owns 473,994 shares of the restaurant operator’s stock worth $44,911,000 after buying an additional 235,091 shares in the last quarter. Vanguard Group Inc. grew its stake in Wingstop by 6.4% during the second quarter. Vanguard Group Inc. now owns 3,389,552 shares of the restaurant operator’s stock worth $321,159,000 after buying an additional 204,867 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Wingstop by 44.3% during the first quarter. Wells Fargo & Company MN now owns 542,169 shares of the restaurant operator’s stock worth $41,221,000 after buying an additional 166,571 shares in the last quarter.
Wingstop Company Profile
Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.
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