Wingstop (NASDAQ:WING) Earns Buy Rating from TD Cowen

TD Cowen restated their buy rating on shares of Wingstop (NASDAQ:WING) in a research note released on Wednesday, Benzinga reports. They currently have a $410.00 target price on the restaurant operator’s stock.

Several other brokerages also recently commented on WING. Sanford C. Bernstein started coverage on Wingstop in a report on Wednesday, February 14th. They set an outperform rating and a $340.00 target price for the company. Robert W. Baird raised their target price on shares of Wingstop from $320.00 to $340.00 and gave the stock an outperform rating in a report on Thursday, February 22nd. Wedbush boosted their price target on shares of Wingstop from $340.00 to $400.00 and gave the company an outperform rating in a report on Friday, April 26th. Truist Financial reaffirmed a hold rating and issued a $292.00 price objective on shares of Wingstop in a research note on Monday, April 1st. Finally, BMO Capital Markets lifted their price objective on shares of Wingstop from $235.00 to $275.00 and gave the stock a market perform rating in a research report on Thursday, February 22nd. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $330.39.

Wingstop Price Performance

Shares of WING opened at $388.55 on Wednesday. The firm’s 50 day moving average is $359.50 and its 200-day moving average is $286.56. Wingstop has a 12-month low of $150.08 and a 12-month high of $396.00. The stock has a market capitalization of $11.41 billion, a P/E ratio of 135.78, a P/E/G ratio of 6.60 and a beta of 1.67.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.22. The firm had revenue of $145.70 million during the quarter, compared to analysts’ expectations of $136.34 million. Wingstop had a net margin of 16.75% and a negative return on equity of 19.64%. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. As a group, equities research analysts forecast that Wingstop will post 3.03 EPS for the current fiscal year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a $0.22 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.23%. Wingstop’s dividend payout ratio is currently 31.32%.

Insider Buying and Selling at Wingstop

In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kilandigalu Madati sold 1,472 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $339.87, for a total value of $500,288.64. Following the sale, the director now directly owns 5,450 shares in the company, valued at approximately $1,852,291.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of the business’s 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 in the company, valued at approximately $5,771,901.80. The disclosure for this sale can be found here. Insiders have sold a total of 14,901 shares of company stock worth $5,120,605 over the last 90 days. Insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Wingstop during the 4th quarter worth about $28,000. Rise Advisors LLC bought a new position in shares of Wingstop in the first quarter valued at approximately $29,000. Headlands Technologies LLC acquired a new position in shares of Wingstop in the 3rd quarter worth approximately $38,000. FSC Wealth Advisors LLC bought a new stake in Wingstop during the 4th quarter worth approximately $39,000. Finally, GAMMA Investing LLC increased its holdings in Wingstop by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 40 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.