Wingstop (NASDAQ:WING) Price Target Raised to $430.00 at BTIG Research

Wingstop (NASDAQ:WING) had its price objective increased by BTIG Research from $350.00 to $430.00 in a report released on Wednesday morning, MarketBeat.com reports. They currently have a buy rating on the restaurant operator’s stock.

WING has been the topic of a number of other reports. Benchmark reduced their price objective on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Jefferies Financial Group raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $270.00 price objective on the stock in a research note on Monday, March 31st. Stephens reaffirmed an “overweight” rating and issued a $385.00 price objective on shares of Wingstop in a research note on Wednesday, May 14th. Truist Financial raised shares of Wingstop from a “hold” rating to a “buy” rating and upped their price objective for the company from $274.00 to $400.00 in a research note on Tuesday, May 27th. Finally, Piper Sandler increased their target price on shares of Wingstop from $271.00 to $272.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Wingstop has an average rating of “Moderate Buy” and an average target price of $350.96.

Wingstop Stock Down 1.2%

Shares of Wingstop stock opened at $354.06 on Wednesday. The company has a 50-day simple moving average of $289.26 and a two-hundred day simple moving average of $278.27. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 95.43, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. Wingstop has a twelve month low of $204.00 and a twelve month high of $433.86.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Wingstop had a net margin of 17.37% and a negative return on equity of 21.59%. The business had revenue of $171.09 million during the quarter, compared to analysts’ expectations of $172.25 million. During the same period in the prior year, the company earned $0.98 EPS. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Wingstop will post 4.18 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were issued a $0.27 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.08 annualized dividend and a dividend yield of 0.31%. Wingstop’s payout ratio is currently 18.09%.

Insiders Place Their Bets

In related news, SVP Raj Kapoor sold 637 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $273.07, for a total value of $173,945.59. Following the sale, the senior vice president now owns 517 shares in the company, valued at $141,177.19. This represents a 55.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Skipworth sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total value of $3,373,400.00. Following the completion of the sale, the chief executive officer now owns 47,190 shares in the company, valued at approximately $15,919,074.60. This represents a 17.49% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in shares of Wingstop by 521.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 73 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in shares of Wingstop by 62.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 35 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Wingstop by 93.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 62 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Wingstop during the 4th quarter worth about $30,000. Finally, Signaturefd LLC increased its position in shares of Wingstop by 106.9% during the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator’s stock worth $34,000 after purchasing an additional 77 shares during the last quarter.

About Wingstop

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.