Wingstop (NASDAQ:WING) Stock Price Up 8.5% – Here’s Why

Wingstop Inc. (NASDAQ:WING)’s stock price rose 8.5% during mid-day trading on Monday. The company traded as high as $165.20 and last traded at $162.4280. Approximately 247,770 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 1,205,434 shares. The stock had previously closed at $149.73.

Analysts Set New Price Targets

A number of equities research analysts have commented on WING shares. Piper Sandler set a $173.00 price target on shares of Wingstop in a report on Wednesday, July 29th. Stephens reaffirmed an “overweight” rating and set a $200.00 price target on shares of Wingstop in a research note on Thursday. Wall Street Zen downgraded Wingstop from a “hold” rating to a “sell” rating in a research note on Saturday. Citigroup cut their price target on Wingstop from $191.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Royal Bank Of Canada raised their price objective on Wingstop from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Wingstop currently has an average rating of “Moderate Buy” and a consensus target price of $222.43.

Wingstop Price Performance

The firm has a fifty day simple moving average of $115.09 and a two-hundred day simple moving average of $164.57. The firm has a market capitalization of $4.54 billion, a P/E ratio of 39.47, a price-to-earnings-growth ratio of 1.99 and a beta of 1.81.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, October 28th. The restaurant operator reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.06. Wingstop had a net margin of 16.03% and a negative return on equity of 15.80%. The firm had revenue of $185.13 million during the quarter, compared to the consensus estimate of $192.89 million. During the same quarter last year, the company earned $1.09 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, research analysts anticipate that Wingstop Inc. will post 4.19 EPS for the current year.

Wingstop Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. Wingstop’s dividend payout ratio (DPR) is presently 30.99%.

Hedge Funds Weigh In On Wingstop

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bridge City Capital LLC lifted its position in Wingstop by 21.4% in the 3rd quarter. Bridge City Capital LLC now owns 16,443 shares of the restaurant operator’s stock worth $1,733,000 after buying an additional 2,902 shares during the last quarter. Vise Technologies Inc. bought a new position in shares of Wingstop during the 3rd quarter valued at $248,000. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Wingstop by 161.2% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 350 shares of the restaurant operator’s stock valued at $37,000 after purchasing an additional 216 shares during the last quarter. Hilton Head Capital Partners LLC raised its position in Wingstop by 35.0% in the 3rd quarter. Hilton Head Capital Partners LLC now owns 409 shares of the restaurant operator’s stock worth $43,000 after purchasing an additional 106 shares during the period. Finally, Signaturefd LLC raised its position in Wingstop by 141.8% in the 3rd quarter. Signaturefd LLC now owns 370 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 217 shares during the period.

About Wingstop

Wingstop Inc is a franchised restaurant company specializing in cooked-to-order chicken wings and related menu items. Its offerings include classic and boneless wings prepared with a range of flavors, along with chicken sandwiches, tenders, fries, seasoned fries, dips, sides and beverages. The company emphasizes made-to-order food, a digital ordering experience and a menu centered on customizable chicken meals.

Founded in 1994 in Garland, Texas, Wingstop has expanded from a single restaurant into a global brand operated primarily through franchised locations.