Wingstop (NASDAQ:WING) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Wingstop (NASDAQ:WING) in a research report report published on Thursday, Benzinga reports. They currently have a $425.00 price target on the restaurant operator’s stock. Wedbush also issued estimates for Wingstop’s Q3 2024 earnings at $0.98 EPS, Q4 2024 earnings at $0.84 EPS, FY2024 earnings at $3.73 EPS, Q3 2025 earnings at $1.24 EPS, Q4 2025 earnings at $1.08 EPS and FY2025 earnings at $4.58 EPS.

Several other analysts have also recently commented on the company. Truist Financial raised their price target on Wingstop from $407.00 to $423.00 and gave the company a hold rating in a report on Thursday. BMO Capital Markets lifted their price objective on Wingstop from $345.00 to $360.00 and gave the stock a market perform rating in a report on Thursday. Barclays upped their target price on Wingstop from $418.00 to $425.00 and gave the stock an overweight rating in a research report on Thursday. Benchmark reissued a hold rating on shares of Wingstop in a report on Thursday, May 2nd. Finally, Stifel Nicolaus increased their price target on Wingstop from $420.00 to $460.00 and gave the company a buy rating in a report on Tuesday, June 18th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Wingstop currently has an average rating of Hold and a consensus price target of $358.32.

Wingstop Price Performance

NASDAQ:WING traded down $19.51 during trading hours on Thursday, reaching $352.15. The company had a trading volume of 124,195 shares, compared to its average volume of 461,551. Wingstop has a 1-year low of $150.08 and a 1-year high of $431.03. The firm has a market cap of $10.32 billion, a PE ratio of 128.60, a price-to-earnings-growth ratio of 4.26 and a beta of 1.69. The business’s 50 day moving average price is $394.38 and its 200-day moving average price is $360.69.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Wingstop had a negative return on equity of 20.97% and a net margin of 17.33%. The company had revenue of $155.70 million for the quarter, compared to analyst estimates of $146.04 million. During the same quarter last year, the company earned $0.57 EPS. Wingstop’s revenue for the quarter was up 45.3% compared to the same quarter last year. On average, analysts expect that Wingstop will post 3.47 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, August 16th. This is an increase from Wingstop’s previous quarterly dividend of $0.22. This represents a $1.08 dividend on an annualized basis and a yield of 0.31%. Wingstop’s dividend payout ratio (DPR) is 31.32%.

Insider Activity

In related news, SVP Albert G. Mcgrath sold 4,230 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $396.40, for a total value of $1,676,772.00. Following the completion of the transaction, the senior vice president now owns 8,170 shares in the company, valued at approximately $3,238,588. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Albert G. Mcgrath sold 4,230 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $396.40, for a total value of $1,676,772.00. Following the completion of the transaction, the senior vice president now owns 8,170 shares of the company’s stock, valued at approximately $3,238,588. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kilandigalu Madati sold 645 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $395.74, for a total transaction of $255,252.30. Following the completion of the transaction, the director now directly owns 5,147 shares of the company’s stock, valued at approximately $2,036,873.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,191 shares of company stock worth $2,443,547. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in Wingstop in the 1st quarter worth $29,000. Massmutual Trust Co. FSB ADV boosted its stake in Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 35 shares during the period. GAMMA Investing LLC boosted its stake in shares of Wingstop by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after buying an additional 40 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Wingstop during the 2nd quarter worth about $62,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Wingstop in the 2nd quarter valued at about $67,000.

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.