Wingstop (NASDAQ:WING) Given New $265.00 Price Target at Morgan Stanley

Wingstop (NASDAQ:WING) had its target price cut by investment analysts at Morgan Stanley from $345.00 to $265.00 in a research note issued on Monday,MarketScreener reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Morgan Stanley’s price target would suggest a potential upside of 73.76% from the company’s previous close.

Several other equities research analysts have also recently weighed in on WING. Weiss Ratings reiterated a “hold (c)” rating on shares of Wingstop in a research report on Friday, March 27th. Stephens restated an “overweight” rating and issued a $375.00 target price on shares of Wingstop in a report on Thursday, February 19th. Wells Fargo & Company cut their price target on shares of Wingstop from $330.00 to $225.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. BNP Paribas Exane initiated coverage on Wingstop in a report on Monday, March 30th. They set an “outperform” rating and a $275.00 price target for the company. Finally, TD Cowen reissued a “hold” rating and issued a $285.00 price target on shares of Wingstop in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Wingstop currently has an average rating of “Moderate Buy” and a consensus price target of $317.48.

Wingstop Price Performance

Wingstop stock opened at $152.51 on Monday. The business has a 50 day moving average of $225.85 and a 200-day moving average of $242.85. The company has a market capitalization of $4.17 billion, a P/E ratio of 24.68, a P/E/G ratio of 1.70 and a beta of 2.03. Wingstop has a 1 year low of $142.24 and a 1 year high of $388.14.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.16. Wingstop had a net margin of 25.01% and a negative return on equity of 16.12%. The company had revenue of $175.69 million for the quarter, compared to analysts’ expectations of $177.74 million. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Wingstop’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts anticipate that Wingstop will post 4.18 EPS for the current year.

Insider Activity

In other Wingstop news, Director Wesley S. Mcdonald sold 566 shares of Wingstop stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $250.00, for a total transaction of $141,500.00. Following the transaction, the director owned 4,375 shares of the company’s stock, valued at $1,093,750. This trade represents a 11.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kilandigalu Madati sold 2,700 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $260.73, for a total transaction of $703,971.00. Following the completion of the transaction, the director owned 2,583 shares in the company, valued at approximately $673,465.59. The trade was a 51.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wingstop

Several institutional investors have recently made changes to their positions in the stock. Cornerstone Planning Group LLC raised its holdings in shares of Wingstop by 1,650.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 99 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in Wingstop by 76.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 60 shares in the last quarter. Rakuten Securities Inc. lifted its position in Wingstop by 197.9% during the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 95 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its stake in Wingstop by 54.3% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock worth $36,000 after buying an additional 50 shares in the last quarter. Finally, GW&K Investment Management LLC increased its holdings in shares of Wingstop by 75.7% in the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock worth $45,000 after buying an additional 81 shares during the last quarter.

Wingstop Company Profile

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.