Wingstop (NASDAQ:WING) Stock Rating Reaffirmed by TD Cowen

TD Cowen reaffirmed their buy rating on shares of Wingstop (NASDAQ:WING) in a research report report published on Wednesday morning, Benzinga reports. TD Cowen currently has a $410.00 price target on the restaurant operator’s stock.

Several other research analysts have also weighed in on WING. Wedbush upped their price target on Wingstop from $340.00 to $400.00 and gave the company an outperform rating in a research report on Friday, April 26th. Sanford C. Bernstein began coverage on Wingstop in a report on Wednesday, February 14th. They issued an outperform rating and a $340.00 target price on the stock. Truist Financial restated a hold rating and set a $292.00 price target on shares of Wingstop in a report on Monday, April 1st. Citigroup boosted their price objective on shares of Wingstop from $320.00 to $375.00 and gave the company a neutral rating in a research report on Wednesday, April 17th. Finally, Morgan Stanley increased their target price on shares of Wingstop from $280.00 to $315.00 and gave the stock an equal weight rating in a research report on Friday, April 12th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wingstop presently has a consensus rating of Hold and a consensus price target of $294.17.

Wingstop Price Performance

WING stock opened at $383.98 on Wednesday. The firm has a market capitalization of $11.28 billion, a P/E ratio of 163.40, a P/E/G ratio of 6.61 and a beta of 1.67. Wingstop has a 52-week low of $150.08 and a 52-week high of $396.00. The company’s 50 day simple moving average is $357.08 and its 200-day simple moving average is $285.20.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $127.06 million for the quarter, compared to the consensus estimate of $120.47 million. Wingstop had a net margin of 15.25% and a negative return on equity of 17.66%. The company’s revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. Sell-side analysts predict that Wingstop will post 3.03 EPS for the current fiscal year.

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Thursday, March 7th. Wingstop’s dividend payout ratio is 37.45%.

Insiders Place Their Bets

In other news, CEO Michael Skipworth sold 10,843 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the sale, the chief executive officer now owns 17,107 shares in the company, valued at $5,771,901.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the completion of the sale, the chief executive officer now owns 17,107 shares in the company, valued at $5,771,901.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kilandigalu Madati sold 1,472 shares of Wingstop stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $339.87, for a total value of $500,288.64. Following the sale, the director now directly owns 5,450 shares in the company, valued at $1,852,291.50. The disclosure for this sale can be found here. Insiders have sold a total of 14,901 shares of company stock valued at $5,120,605 in the last three months. Company insiders own 0.36% of the company’s stock.

Institutional Trading of Wingstop

A number of institutional investors and hedge funds have recently modified their holdings of WING. McGlone Suttner Wealth Management Inc. acquired a new stake in Wingstop during the fourth quarter worth $28,000. Rise Advisors LLC acquired a new stake in shares of Wingstop during the 1st quarter valued at about $29,000. Headlands Technologies LLC acquired a new stake in shares of Wingstop during the 3rd quarter valued at about $38,000. FSC Wealth Advisors LLC bought a new stake in Wingstop in the fourth quarter valued at about $39,000. Finally, GAMMA Investing LLC raised its position in Wingstop by 53.3% in the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 40 shares in 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.