Wingstop (NASDAQ:WING) PT Raised to $398.00

Wingstop (NASDAQ:WING) had its price target boosted by Citigroup from $375.00 to $398.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the restaurant operator’s stock.

Several other brokerages also recently weighed in on WING. Sanford C. Bernstein assumed coverage on shares of Wingstop in a research report on Wednesday, February 14th. They set an outperform rating and a $340.00 price objective for the company. TD Cowen restated a buy rating and issued a $410.00 price objective on shares of Wingstop in a research note on Wednesday, May 1st. Benchmark reissued a hold rating on shares of Wingstop in a report on Thursday. Truist Financial raised their price target on Wingstop from $320.00 to $345.00 and gave the stock a hold rating in a research note on Thursday. Finally, Stifel Nicolaus boosted their price objective on Wingstop from $270.00 to $330.00 and gave the company a buy rating in a research note on Friday, February 16th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $330.39.

Wingstop Stock Up 1.8 %

NASDAQ:WING opened at $388.55 on Thursday. Wingstop has a 52 week low of $150.08 and a 52 week high of $396.00. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 138.27, a price-to-earnings-growth ratio of 6.42 and a beta of 1.67. The company has a fifty day simple moving average of $360.49 and a two-hundred day simple moving average of $289.47.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.22. Wingstop had a net margin of 16.75% and a negative return on equity of 19.64%. The business had revenue of $145.70 million during the quarter, compared to analysts’ expectations of $136.34 million. During the same period in the previous year, the company earned $0.59 EPS. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. On average, analysts expect that Wingstop will post 3.4 EPS for the current year.

Wingstop Dividend Announcement

The firm also recently disclosed 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. This represents a $0.88 annualized dividend and a yield of 0.23%. The ex-dividend date is Thursday, May 16th. Wingstop’s payout ratio is 31.32%.

Insider Buying and Selling at Wingstop

In other news, SVP Marisa Carona sold 2,586 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $371.96, for a total value of $961,888.56. Following the completion of the transaction, the senior vice president now owns 1,646 shares in the company, valued at approximately $612,246.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kilandigalu Madati sold 1,472 shares of Wingstop 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 completion of the transaction, the director now directly owns 5,450 shares of the company’s stock, valued at $1,852,291.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Marisa Carona sold 2,586 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $371.96, for a total value of $961,888.56. Following the completion of the sale, the senior vice president now directly owns 1,646 shares in the company, valued at approximately $612,246.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,901 shares of company stock valued at $5,120,605. 0.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wingstop

Institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its holdings in shares of Wingstop by 64.6% in the third quarter. Commonwealth Equity Services LLC now owns 2,859 shares of the restaurant operator’s stock worth $514,000 after acquiring an additional 1,122 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Wingstop by 22.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,985 shares of the restaurant operator’s stock worth $1,076,000 after buying an additional 1,093 shares in the last quarter. Strs Ohio raised its position in shares of Wingstop by 101.1% in the third quarter. Strs Ohio now owns 70,400 shares of the restaurant operator’s stock valued at $12,660,000 after buying an additional 35,400 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of Wingstop during the third quarter valued at approximately $502,000. Finally, Whittier Trust Co. boosted its position in Wingstop by 4.2% during the third quarter. Whittier Trust Co. now owns 22,813 shares of the restaurant operator’s stock worth $4,103,000 after acquiring an additional 916 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.