Wedbush Raises Wingstop (NASDAQ:WING) Price Target to $425.00

Wingstop (NASDAQ:WING) had its target price increased by Wedbush from $400.00 to $425.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s target price would indicate a potential upside of 9.38% from the company’s previous close. Wedbush also issued estimates for Wingstop’s Q2 2024 earnings at $0.74 EPS, Q3 2024 earnings at $0.84 EPS, Q3 2024 earnings at $0.83 EPS, FY2024 earnings at $3.08 EPS, FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $0.97 EPS, Q3 2025 earnings at $1.05 EPS, Q4 2025 earnings at $0.99 EPS and FY2025 earnings at $3.66 EPS.

WING has been the subject of several other reports. Morgan Stanley lifted their target price on shares of Wingstop from $280.00 to $315.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Jefferies Financial Group boosted their target price on Wingstop from $310.00 to $335.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Sanford C. Bernstein started coverage on Wingstop in a report on Wednesday, February 14th. They set an “outperform” rating and a $340.00 price target for the company. Truist Financial reiterated a “hold” rating and issued a $292.00 price target on shares of Wingstop in a research note on Monday, April 1st. Finally, TD Cowen restated a “buy” rating and set a $410.00 price objective on shares of Wingstop in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $330.39.

Wingstop Trading Up 1.8 %

Wingstop stock traded up $7.01 during trading hours on Thursday, hitting $388.55. 510,680 shares of the stock traded hands, compared to its average volume of 532,882. Wingstop has a one year low of $150.08 and a one year high of $396.00. The company has a market cap of $11.41 billion, a PE ratio of 138.27, a PEG ratio of 6.30 and a beta of 1.67. The firm’s 50-day moving average price is $360.49 and its two-hundred day moving average price is $288.00.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.22. The business had revenue of $145.70 million during the quarter, compared to the consensus estimate of $136.34 million. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. On average, sell-side analysts expect that Wingstop will post 3.15 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the completion of the transaction, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Marisa Carona sold 2,586 shares of Wingstop stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $371.96, for a total transaction of $961,888.56. Following the completion of the transaction, the senior vice president now directly owns 1,646 shares of the company’s stock, valued at approximately $612,246.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 14,901 shares of company stock worth $5,120,605 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.

Institutional Trading of Wingstop

A number of large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its holdings in shares of Wingstop by 64.6% in the third quarter. Commonwealth Equity Services LLC now owns 2,859 shares of the restaurant operator’s stock valued at $514,000 after purchasing an additional 1,122 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Wingstop by 22.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,985 shares of the restaurant operator’s stock valued at $1,076,000 after acquiring an additional 1,093 shares in the last quarter. Strs Ohio lifted its stake in Wingstop by 101.1% in the third quarter. Strs Ohio now owns 70,400 shares of the restaurant operator’s stock worth $12,660,000 after acquiring an additional 35,400 shares during the period. Park Avenue Securities LLC purchased a new stake in Wingstop in the third quarter worth about $502,000. Finally, Whittier Trust Co. increased its holdings in Wingstop by 4.2% during the third quarter. Whittier Trust Co. now owns 22,813 shares of the restaurant operator’s stock valued at $4,103,000 after buying an additional 916 shares during the period.

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.