Stephens Reaffirms Overweight Rating for Wingstop (NASDAQ:WING)

Stephens reiterated their overweight rating on shares of Wingstop (NASDAQ:WING) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $385.00 target price on the restaurant operator’s stock.

Several other equities research analysts have also recently commented on the stock. The Goldman Sachs Group raised their target price on shares of Wingstop from $280.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Wedbush lowered their price objective on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. TD Securities lifted their price objective on Wingstop from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company increased their target price on Wingstop from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Bank of America lifted their price target on Wingstop from $319.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $331.78.

Wingstop Price Performance

WING opened at $306.25 on Wednesday. Wingstop has a one year low of $204.00 and a one year high of $433.86. The business has a 50 day simple moving average of $234.80 and a two-hundred day simple moving average of $275.66. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 82.55, a PEG ratio of 2.27 and a beta of 1.80.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. The company had revenue of $171.09 million during the quarter, compared to analyst estimates of $172.25 million. Wingstop had a negative return on equity of 21.59% and a net margin of 17.37%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. As a group, sell-side analysts expect that Wingstop will post 4.18 EPS for the current fiscal year.

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Friday, May 16th. Wingstop’s payout ratio is 18.09%.

Insider Buying and Selling at Wingstop

In other Wingstop news, SVP Raj Kapoor sold 637 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $273.07, for a total transaction of $173,945.59. Following the sale, the senior vice president now directly owns 517 shares in the company, valued at approximately $141,177.19. This trade represents a 55.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Proficio Capital Partners LLC purchased a new position in Wingstop in the 4th quarter worth about $10,177,000. SG Americas Securities LLC grew its stake in shares of Wingstop by 277.5% in the fourth quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator’s stock worth $1,356,000 after acquiring an additional 3,507 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in shares of Wingstop by 779.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator’s stock valued at $5,247,000 after purchasing an additional 16,361 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Wingstop by 475.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator’s stock valued at $19,676,000 after purchasing an additional 57,193 shares during the period. Finally, Versor Investments LP lifted its position in Wingstop by 149.0% during the fourth quarter. Versor Investments LP now owns 5,309 shares of the restaurant operator’s stock valued at $1,509,000 after purchasing an additional 3,177 shares during the period.

About Wingstop

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.