Wingstop (NASDAQ:WING) Shares Up 5.9% – Still a Buy?

Wingstop Inc. (NASDAQ:WING) shares shot up 5.9% during mid-day trading on Friday . The stock traded as high as $125.94 and last traded at $126.0020. 1,057,208 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 1,121,277 shares. The stock had previously closed at $118.96.

Analyst Ratings Changes

Several brokerages recently issued reports on WING. Piper Sandler upgraded shares of Wingstop from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $283.00 to $190.00 in a report on Thursday, April 2nd. The Goldman Sachs Group lowered shares of Wingstop from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $290.00 to $190.00 in a report on Thursday, April 30th. Wall Street Zen upgraded shares of Wingstop from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. BNP Paribas Exane began coverage on shares of Wingstop in a report on Monday, March 30th. They issued an “outperform” rating and a $275.00 price objective on the stock. Finally, Citigroup reduced their price objective on shares of Wingstop from $230.00 to $229.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wingstop presently has an average rating of “Moderate Buy” and an average price target of $282.41.

Wingstop Price Performance

The company has a market capitalization of $3.52 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.86. The stock’s 50 day simple moving average is $174.02 and its 200-day simple moving average is $225.67.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The company had revenue of $183.73 million for the quarter, compared to analyst estimates of $187.82 million. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. On average, equities analysts predict that Wingstop Inc. will post 4.58 earnings per share for the current year.

Wingstop Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.9%. Wingstop’s dividend payout ratio is 29.85%.

Insider Transactions at Wingstop

In other Wingstop news, Director Wesley S. Mcdonald sold 566 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $250.00, for a total transaction of $141,500.00. Following the sale, the director directly owned 4,375 shares in the company, valued at $1,093,750. This represents a 11.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kilandigalu Madati sold 2,700 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $260.73, for a total transaction of $703,971.00. Following the sale, the director owned 2,583 shares in the company, valued at $673,465.59. The trade was a 51.11% 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 corporate insiders.

Institutional Investors Weigh In On Wingstop

Hedge funds and other institutional investors have recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its position in shares of Wingstop by 1,650.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Wingstop by 76.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock worth $33,000 after purchasing an additional 60 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in Wingstop by 54.3% in the third quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 50 shares during the last quarter. Rakuten Securities Inc. increased its holdings in Wingstop by 197.9% in the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after buying an additional 95 shares during the last quarter. Finally, Pinnacle Holdings LLC purchased a new position in Wingstop in the third quarter valued at $47,000.

About Wingstop

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.