Wingstop (NASDAQ:WING) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Wingstop (NASDAQ:WING) issued its quarterly earnings data on Wednesday. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01), Zacks reports. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%.

Wingstop Price Performance

Wingstop stock traded down $38.07 during midday trading on Wednesday, reaching $267.96. The company’s stock had a trading volume of 958,131 shares, compared to its average volume of 594,955. The stock’s 50-day simple moving average is $293.06 and its 200-day simple moving average is $342.48. Wingstop has a 52-week low of $266.00 and a 52-week high of $433.86. The stock has a market capitalization of $7.83 billion, a P/E ratio of 78.37, a PEG ratio of 2.74 and a beta of 1.81.

Insider Buying and Selling at Wingstop

In other news, SVP Raj Kapoor sold 266 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $324.38, for a total value of $86,285.08. Following the transaction, the senior vice president now directly owns 266 shares of the company’s stock, valued at approximately $86,285.08. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.36% of the stock is currently owned by company insiders.

Wingstop announced that its Board of Directors has authorized a share repurchase program on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the restaurant operator to repurchase up to 5.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

WING has been the topic of several recent research reports. Benchmark raised Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective on the stock in a report on Thursday, October 31st. Northcoast Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 target price on the stock in a research report on Friday, November 1st. Barclays cut their target price on Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Piper Sandler cut their target price on Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, Raymond James reissued an “outperform” rating and set a $330.00 target price (down previously from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $385.72.

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.