Wingstop (NASDAQ:WING) Sets New 12-Month High After Analyst Upgrade

Wingstop Inc. (NASDAQ:WING)’s share price reached a new 52-week high during trading on Friday after Wedbush raised their price target on the stock from $340.00 to $400.00. Wedbush currently has an outperform rating on the stock. Wingstop traded as high as $380.63 and last traded at $378.22, with a volume of 149767 shares traded. The stock had previously closed at $369.90.

A number of other research firms also recently commented on WING. Stephens assumed coverage on shares of Wingstop in a research note on Friday, April 12th. They set an “overweight” rating and a $425.00 price objective for the company. Truist Financial reaffirmed a “hold” rating and issued a $292.00 price objective on shares of Wingstop in a research report on Monday, April 1st. Robert W. Baird increased their target price on Wingstop from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Citigroup increased their target price on Wingstop from $320.00 to $375.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Finally, Stifel Nicolaus increased their target price on Wingstop from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Wingstop has an average rating of “Hold” and a consensus target price of $294.17.

Insider Activity

In related news, Director Kilandigalu Madati sold 1,472 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $339.87, for a total value of $500,288.64. Following the transaction, the director now directly owns 5,450 shares of the company’s stock, valued at approximately $1,852,291.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Wingstop news, SVP Marisa Carona sold 2,586 shares of Wingstop stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $371.96, for a total value of $961,888.56. Following the transaction, the senior vice president now directly owns 1,646 shares of the company’s stock, valued at approximately $612,246.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kilandigalu Madati sold 1,472 shares of Wingstop stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $339.87, for a total value of $500,288.64. Following the completion of the transaction, the director now directly owns 5,450 shares in the company, valued at $1,852,291.50. The disclosure for this sale can be found here. Insiders sold a total of 14,901 shares of company stock worth $5,120,605 in the last three months. 0.36% of the stock is owned by insiders.

Institutional Trading of Wingstop

Several institutional investors have recently modified their holdings of WING. McGlone Suttner Wealth Management Inc. acquired a new stake in Wingstop in the 4th quarter valued at $28,000. Rise Advisors LLC acquired a new position in Wingstop in the first quarter worth $29,000. Headlands Technologies LLC acquired a new position in Wingstop in the third quarter worth $38,000. FSC Wealth Advisors LLC acquired a new position in Wingstop in the fourth quarter worth $39,000. Finally, GAMMA Investing LLC boosted its stake in Wingstop by 53.3% in the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 40 shares in the last quarter.

Wingstop Price Performance

The company has a market cap of $11.24 billion, a price-to-earnings ratio of 162.79, a price-to-earnings-growth ratio of 6.39 and a beta of 1.68. The business has a 50 day simple moving average of $354.56 and a 200 day simple moving average of $281.55.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $127.06 million during the quarter, compared to the consensus estimate of $120.47 million. Wingstop had a negative return on equity of 17.66% and a net margin of 15.25%. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share. As a group, sell-side analysts anticipate that Wingstop Inc. will post 3.02 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.88 dividend on an annualized basis and a yield of 0.23%. Wingstop’s dividend payout ratio is presently 37.45%.

Wingstop Company Profile

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.