Wingstop (NASDAQ:WING) Price Target Cut to $300.00 by Analysts at Piper Sandler

Wingstop (NASDAQ:WING) had its price target cut by Piper Sandler from $375.00 to $300.00 in a report released on Monday, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Other equities research analysts have also issued reports about the company. Benchmark upgraded Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective on the stock in a research note on Thursday, October 31st. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price objective for the company in a report on Thursday, October 31st. Citigroup raised their target price on shares of Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Barclays lowered their target price on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Truist Financial boosted their target price on shares of Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Wingstop presently has a consensus rating of “Moderate Buy” and an average target price of $375.63.

Wingstop Stock Performance

Shares of NASDAQ:WING opened at $297.18 on Monday. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 86.64, a price-to-earnings-growth ratio of 2.74 and a beta of 1.76. The company’s fifty day moving average is $388.10 and its two-hundred day moving average is $387.45. Wingstop has a 1-year low of $204.01 and a 1-year high of $433.86.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.09). The firm had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. Sell-side analysts expect that Wingstop will post 3.72 EPS for the current fiscal year.

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.27 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.08 annualized dividend and a yield of 0.36%. Wingstop’s dividend payout ratio is presently 31.49%.

Insider Transactions at Wingstop

In other news, SVP Donnie Upshaw sold 3,199 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the completion of the transaction, the senior vice president now directly owns 97 shares of the company’s stock, valued at $36,152.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Wingstop

A number of institutional investors have recently modified their holdings of WING. Millennium Management LLC lifted its stake in Wingstop by 284.1% during the second quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock valued at $161,957,000 after purchasing an additional 283,412 shares during the last quarter. Renaissance Technologies LLC grew its stake in Wingstop by 36.6% in the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after buying an additional 161,600 shares during the last quarter. AQR Capital Management LLC grew its stake in Wingstop by 66.6% in the 2nd quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock valued at $137,753,000 after buying an additional 130,248 shares during the last quarter. Vanguard Group Inc. grew its stake in Wingstop by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock valued at $1,071,473,000 after buying an additional 104,780 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Wingstop by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock valued at $833,026,000 after purchasing an additional 101,917 shares during the period.

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.