Wedbush Raises Wingstop (NASDAQ:WING) Price Target to $400.00

Wingstop (NASDAQ:WING) had its price objective lifted by Wedbush from $340.00 to $400.00 in a research report sent to investors on Friday morning, Benzinga reports. Wedbush currently has an outperform rating on the restaurant operator’s stock. Wedbush also issued estimates for Wingstop’s Q3 2024 earnings at $0.83 EPS, FY2024 earnings at $3.08 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $0.99 EPS and FY2025 earnings at $3.66 EPS.

WING has been the topic of a number of other research reports. Benchmark restated a hold rating on shares of Wingstop in a research note on Tuesday, April 23rd. Stifel Nicolaus raised their price target on Wingstop from $270.00 to $330.00 and gave the stock a buy rating in a research note on Friday, February 16th. Truist Financial restated a hold rating and set a $292.00 price target on shares of Wingstop in a research note on Monday, April 1st. BMO Capital Markets raised their price target on Wingstop from $235.00 to $275.00 and gave the stock a market perform rating in a research note on Thursday, February 22nd. Finally, Sanford C. Bernstein started coverage on Wingstop in a research note on Wednesday, February 14th. They set an outperform rating and a $340.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $294.17.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $384.82 on Friday. Wingstop has a fifty-two week low of $150.08 and a fifty-two week high of $392.48. The firm has a market capitalization of $11.30 billion, a PE ratio of 163.75, a price-to-earnings-growth ratio of 6.57 and a beta of 1.68. The stock’s 50-day simple moving average is $355.87 and its 200-day simple moving average is $283.73.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. Wingstop had a negative return on equity of 17.66% and a net margin of 15.25%. The business had revenue of $127.06 million for the quarter, compared to analyst estimates of $120.47 million. During the same quarter last year, the company earned $0.60 EPS. The business’s quarterly revenue was up 21.2% on a year-over-year basis. On average, sell-side analysts forecast that Wingstop will post 3.03 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Thursday, March 7th. Wingstop’s dividend payout ratio is presently 37.45%.

Insider Buying and Selling

In related news, CEO Michael Skipworth sold 10,843 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the transaction, the chief executive officer now owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the sale, the chief executive officer now directly owns 17,107 shares in the company, valued at $5,771,901.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Marisa Carona sold 2,586 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $371.96, for a total value of $961,888.56. Following the sale, the senior vice president now owns 1,646 shares in the company, valued at $612,246.16. The disclosure for this sale can be found here. Insiders have sold 14,901 shares of company stock valued at $5,120,605 over the last quarter. Company insiders own 0.36% of the company’s stock.

Institutional Trading of Wingstop

Institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its position in Wingstop by 542.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,773 shares of the restaurant operator’s stock worth $2,764,000 after purchasing an additional 9,097 shares in the last quarter. Comerica Bank purchased a new stake in shares of Wingstop in the third quarter valued at $4,021,000. Strs Ohio lifted its position in shares of Wingstop by 12.4% in the fourth quarter. Strs Ohio now owns 79,100 shares of the restaurant operator’s stock valued at $20,295,000 after acquiring an additional 8,700 shares in the last quarter. Teza Capital Management LLC purchased a new stake in shares of Wingstop in the third quarter valued at $1,961,000. Finally, Legato Capital Management LLC lifted its position in shares of Wingstop by 5.6% in the fourth quarter. Legato Capital Management LLC now owns 1,605 shares of the restaurant operator’s stock valued at $412,000 after acquiring an additional 85 shares in the last quarter.

Wingstop Company Profile

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.