Wingstop (NASDAQ:WING) Stock Breaks Above 200 Day Moving Average – Here’s Why

Wingstop Inc. (NASDAQ:WING)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $162.93 and traded as high as $175.00. Wingstop shares last traded at $167.62, with a volume of 1,529,047 shares changing hands.

Wall Street Analysts Forecast Growth

WING has been the subject of several analyst reports. Citigroup lowered their target price on Wingstop from $191.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. Piper Sandler set a $173.00 price target on Wingstop in a research report on Wednesday, July 29th. Morgan Stanley decreased their price target on Wingstop from $202.00 to $198.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Raymond James Financial restated a “strong-buy” rating on shares of Wingstop in a research report on Thursday, October 29th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Wingstop in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $219.56.

Wingstop Stock Down 1.5%

The stock has a market capitalization of $4.42 billion, a P/E ratio of 38.33, a P/E/G ratio of 2.16 and a beta of 1.77. The firm’s 50 day simple moving average is $120.15 and its two-hundred day simple moving average is $161.84.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, October 28th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The company had revenue of $185.13 million for the quarter, compared to analysts’ expectations of $192.89 million. Wingstop had a net margin of 16.03% and a negative return on equity of 15.80%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS. As a group, equities research analysts expect that Wingstop Inc. will post 4.19 earnings per share for the current year.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, November 13th. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. Wingstop’s payout ratio is currently 30.99%.

Insiders Place Their Bets

In other Wingstop news, Director Wesley S. Mcdonald sold 1,520 shares of the company’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $145.11, for a total transaction of $220,567.20. Following the transaction, the director owned 3,986 shares in the company, valued at approximately $578,408.46. This represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Raj Kapoor sold 2,500 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $163.61, for a total transaction of $409,025.00. Following the completion of the transaction, the chief operating officer directly owned 1,659 shares in the company, valued at $271,428.99. This trade represents a 60.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wingstop

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP bought a new position in Wingstop during the second quarter valued at $34,000. Pinnacle Wealth Planning Services Inc. raised its stake in shares of Wingstop by 161.2% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 350 shares of the restaurant operator’s stock valued at $37,000 after buying an additional 216 shares during the period. Signaturefd LLC raised its stake in shares of Wingstop by 141.8% in the third quarter. Signaturefd LLC now owns 370 shares of the restaurant operator’s stock valued at $39,000 after buying an additional 217 shares during the period. Hilton Head Capital Partners LLC lifted its position in shares of Wingstop by 35.0% during the 3rd quarter. Hilton Head Capital Partners LLC now owns 409 shares of the restaurant operator’s stock valued at $43,000 after buying an additional 106 shares during the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Wingstop during the 2nd quarter valued at $46,000.

Wingstop Company Profile

Wingstop Inc is a franchised restaurant company specializing in cooked-to-order chicken wings and related menu items. Its offerings include classic and boneless wings prepared with a range of flavors, along with chicken sandwiches, tenders, fries, seasoned fries, dips, sides and beverages. The company emphasizes made-to-order food, a digital ordering experience and a menu centered on customizable chicken meals.

Founded in 1994 in Garland, Texas, Wingstop has expanded from a single restaurant into a global brand operated primarily through franchised locations.