Truist Financial Cuts Wingstop (NASDAQ:WING) Price Target to $365.00

Wingstop (NASDAQ:WING) had its price objective reduced by analysts at Truist Financial from $400.00 to $365.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price objective would indicate a potential upside of 40.64% from the stock’s current price.

WING has been the subject of several other research reports. Citigroup boosted their price target on shares of Wingstop from $296.00 to $321.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. The Goldman Sachs Group set a $330.00 price target on Wingstop and gave the stock a “buy” rating in a report on Wednesday. Benchmark dropped their price target on Wingstop from $340.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday. BTIG Research cut their target price on Wingstop from $430.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Northcoast Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $336.52.

Wingstop Stock Up 9.4%

Shares of NASDAQ WING traded up $22.21 during midday trading on Wednesday, hitting $259.53. 635,522 shares of the company’s stock were exchanged, compared to its average volume of 847,531. Wingstop has a 12 month low of $204.00 and a 12 month high of $388.14. The firm has a market capitalization of $7.25 billion, a PE ratio of 43.18, a price-to-earnings-growth ratio of 2.99 and a beta of 1.73. The company’s 50 day moving average price is $265.40 and its 200 day moving average price is $301.08.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.18. The company had revenue of $175.74 million during the quarter, compared to analyst estimates of $189.10 million. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $0.88 earnings per share. On average, equities research analysts anticipate that Wingstop will post 4.18 EPS for the current year.

Hedge Funds Weigh In On Wingstop

Several large investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its position in Wingstop by 16.7% during the first quarter. Principal Financial Group Inc. now owns 79,225 shares of the restaurant operator’s stock worth $17,872,000 after acquiring an additional 11,329 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Wingstop by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 74,770 shares of the restaurant operator’s stock valued at $16,867,000 after acquiring an additional 556 shares in the last quarter. Cerity Partners LLC boosted its holdings in Wingstop by 91.7% in the 1st quarter. Cerity Partners LLC now owns 8,946 shares of the restaurant operator’s stock worth $2,018,000 after buying an additional 4,280 shares during the period. State of Michigan Retirement System raised its position in Wingstop by 1.5% during the first quarter. State of Michigan Retirement System now owns 6,972 shares of the restaurant operator’s stock valued at $1,573,000 after purchasing an additional 100 shares in the last quarter. Finally, Xponance Inc. increased its stake in shares of Wingstop by 1.1% during the first quarter. Xponance Inc. now owns 6,076 shares of the restaurant operator’s stock valued at $1,371,000 after buying an additional 67 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.