Wingstop (NASDAQ:WING) Price Target Lowered to $380.00 at Barclays

Wingstop (NASDAQ:WING) had its price objective reduced by Barclays from $470.00 to $380.00 in a research note published on Thursday morning, Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets upped their target price on shares of Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Benchmark upgraded shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective for the company in a research note on Thursday. Stephens dropped their price objective on Wingstop from $490.00 to $468.00 and set an “overweight” rating on the stock in a report on Thursday. Piper Sandler boosted their target price on Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Wedbush raised their price target on Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $370.85.

Wingstop Stock Up 2.1 %

Wingstop stock traded up $6.10 during midday trading on Thursday, reaching $293.79. The company’s stock had a trading volume of 294,552 shares, compared to its average volume of 450,362. The company has a market cap of $8.61 billion, a P/E ratio of 83.87, a P/E/G ratio of 2.74 and a beta of 1.71. The business has a 50-day simple moving average of $392.16 and a 200-day simple moving average of $388.27. Wingstop has a fifty-two week low of $196.54 and a fifty-two week high of $433.86.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.09). The business had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. Wingstop’s revenue was up 38.8% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. As a group, equities analysts forecast that Wingstop will post 3.81 earnings per share for the current year.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.27 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a yield of 0.37%. Wingstop’s payout ratio is currently 31.49%.

Insiders Place Their Bets

In related news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the transaction, the senior vice president now owns 97 shares of the company’s stock, valued at $36,152.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management increased its stake in Wingstop by 53.8% in the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 35 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Wingstop in the third quarter valued at $179,000. Summit Global Investments acquired a new position in shares of Wingstop during the 3rd quarter worth $3,334,000. Pittenger & Anderson Inc. boosted its position in shares of Wingstop by 100.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 490 shares of the restaurant operator’s stock worth $204,000 after buying an additional 245 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Wingstop by 64.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,741 shares of the restaurant operator’s stock valued at $1,557,000 after acquiring an additional 1,462 shares during 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.