Wingstop (NASDAQ:WING) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Wingstop (NASDAQ:WING) had its price objective increased by The Goldman Sachs Group from $310.00 to $390.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Several other equities analysts have also issued reports on WING. Robert W. Baird increased their target price on Wingstop from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 23rd. Stifel Nicolaus decreased their target price on Wingstop from $375.00 to $350.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Morgan Stanley decreased their target price on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. BMO Capital Markets decreased their target price on Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a research note on Thursday, February 20th. Finally, Truist Financial raised Wingstop from a “hold” rating to a “buy” rating and increased their target price for the stock from $274.00 to $400.00 in a research note on Tuesday, May 27th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wingstop has a consensus rating of “Moderate Buy” and a consensus target price of $348.35.

Wingstop Stock Up 0.9%

Shares of Wingstop stock opened at $374.82 on Wednesday. Wingstop has a 52 week low of $204.00 and a 52 week high of $433.86. The business’s fifty day simple moving average is $275.32 and its 200-day simple moving average is $277.12. The firm has a market cap of $10.46 billion, a PE ratio of 101.03, a price-to-earnings-growth 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, beating the consensus estimate of $0.84 by $0.15. Wingstop had a negative return on equity of 21.59% and a net margin of 17.37%. The business had revenue of $171.09 million for the quarter, compared to analyst estimates of $172.25 million. During the same quarter in the prior year, the company posted $0.98 EPS. The company’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities analysts expect that Wingstop will post 4.18 earnings per share for the current year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.08 annualized dividend and a yield of 0.29%. Wingstop’s dividend payout ratio (DPR) is 18.09%.

Insiders Place Their Bets

In other news, CEO Michael Skipworth sold 10,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total value of $3,373,400.00. Following the transaction, the chief executive officer now owns 47,190 shares in the company, valued at approximately $15,919,074.60. This represents a 17.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Raj Kapoor sold 637 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $273.07, for a total value of $173,945.59. Following the completion of the transaction, the senior vice president now owns 517 shares in the company, valued at approximately $141,177.19. The trade was a 55.20% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Strs Ohio purchased a new position in shares of Wingstop in the 1st quarter valued at about $11,279,000. Geneos Wealth Management Inc. increased its holdings in shares of Wingstop by 121.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after acquiring an additional 119 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Wingstop by 5.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,439 shares of the restaurant operator’s stock valued at $20,852,000 after acquiring an additional 4,937 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Wingstop in the 1st quarter valued at about $429,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Wingstop by 2,770.6% in the 1st quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator’s stock valued at $440,000 after acquiring an additional 1,884 shares during the last quarter.

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.