Wingstop (NASDAQ:WING) Price Target Increased to $425.00 by Analysts at Wedbush

Wingstop (NASDAQ:WING) had its price objective raised by stock analysts at Wedbush from $400.00 to $425.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s price target would suggest a potential upside of 10.68% from the company’s previous close. 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 several other research reports. Stifel Nicolaus raised their target price on Wingstop from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Benchmark restated a “hold” rating on shares of Wingstop in a report on Tuesday, April 23rd. Stephens reaffirmed an “overweight” rating and set a $425.00 target price on shares of Wingstop in a research note on Wednesday. TD Cowen reiterated a “buy” rating and issued a $410.00 target price on shares of Wingstop in a research report on Wednesday. Finally, Robert W. Baird boosted their price target on shares of Wingstop from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Wingstop presently has an average rating of “Hold” and an average target price of $299.17.

Wingstop Stock Performance

NASDAQ:WING opened at $383.98 on Thursday. The stock has a market capitalization of $11.28 billion, a PE ratio of 163.40, a P/E/G ratio of 6.61 and a beta of 1.67. Wingstop has a fifty-two week low of $150.08 and a fifty-two week high of $396.00. The company has a fifty day moving average of $357.08 and a two-hundred day moving average of $285.20.

Wingstop (NASDAQ:WING) last released its quarterly 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. The firm had revenue of $127.06 million during the quarter, compared to the consensus estimate of $120.47 million. Wingstop had a net margin of 15.25% and a negative return on equity of 17.66%. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. Research analysts forecast that Wingstop will post 3.03 earnings per share for the current year.

Insider Buying and Selling

In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of Wingstop stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total value of $3,658,428.20. Following the sale, the chief executive officer now owns 17,107 shares in the company, valued at $5,771,901.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Wingstop news, Director Kilandigalu Madati sold 1,472 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $339.87, for a total transaction of $500,288.64. Following the transaction, the director now directly owns 5,450 shares in the company, valued at $1,852,291.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of Wingstop stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the completion of the sale, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,901 shares of company stock worth $5,120,605. Company insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

A number of hedge funds and other institutional investors have recently bought and sold shares of WING. Franklin Resources Inc. lifted its position in shares of Wingstop by 155.7% during the fourth quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock worth $224,093,000 after purchasing an additional 531,880 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in Wingstop by 64.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,079,939 shares of the restaurant operator’s stock valued at $194,216,000 after buying an additional 422,727 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Wingstop in the fourth quarter worth $103,899,000. American Century Companies Inc. increased its position in shares of Wingstop by 29.4% during the third quarter. American Century Companies Inc. now owns 1,626,558 shares of the restaurant operator’s stock worth $292,520,000 after acquiring an additional 370,032 shares during the period. Finally, Norges Bank acquired a new stake in shares of Wingstop in the fourth quarter valued at $80,423,000.

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.