Wingstop (NASDAQ:WING) Given New $418.00 Price Target at Barclays

Wingstop (NASDAQ:WING) had its target price raised by Barclays from $350.00 to $418.00 in a report published on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the restaurant operator’s stock.

A number of other equities analysts have also commented on WING. TD Cowen reissued a buy rating and issued a $410.00 price target on shares of Wingstop in a report on Wednesday. Benchmark restated a hold rating on shares of Wingstop in a research report on Thursday. Truist Financial upped their price objective on Wingstop from $320.00 to $345.00 and gave the stock a hold rating in a report on Thursday. Sanford C. Bernstein started coverage on Wingstop in a research report on Wednesday, February 14th. They issued an outperform rating and a $340.00 target price for the company. Finally, Jefferies Financial Group increased their price target on shares of Wingstop from $310.00 to $335.00 and gave the company a hold rating in a research report on Tuesday, April 16th. Eleven 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, the stock presently has a consensus rating of Hold and an average target price of $330.39.

Wingstop Stock Performance

Shares of WING stock opened at $388.55 on Thursday. The company has a market capitalization of $11.41 billion, a PE ratio of 138.27, a price-to-earnings-growth ratio of 6.30 and a beta of 1.67. Wingstop has a 52-week low of $150.08 and a 52-week high of $396.00. The business’s fifty day moving average is $360.49 and its 200 day moving average is $288.00.

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

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Thursday, May 16th. Wingstop’s dividend payout ratio (DPR) is currently 31.32%.

Insider Buying and Selling at Wingstop

In related news, CEO Michael Skipworth sold 10,843 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the transaction, 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 Securities & Exchange Commission, which is available through this link. In other news, SVP Marisa Carona sold 2,586 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $371.96, for a total transaction of $961,888.56. Following the sale, the senior vice president now owns 1,646 shares in the company, valued at approximately $612,246.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction dated 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 owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,901 shares of company stock valued at $5,120,605. 0.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wingstop

Institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its stake in Wingstop by 64.6% during the third quarter. Commonwealth Equity Services LLC now owns 2,859 shares of the restaurant operator’s stock valued at $514,000 after buying an additional 1,122 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Wingstop by 22.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,985 shares of the restaurant operator’s stock worth $1,076,000 after purchasing an additional 1,093 shares during the last quarter. Strs Ohio boosted its stake in Wingstop by 101.1% in the 3rd quarter. Strs Ohio now owns 70,400 shares of the restaurant operator’s stock worth $12,660,000 after purchasing an additional 35,400 shares in the last quarter. Park Avenue Securities LLC bought a new position in Wingstop in the 3rd quarter worth about $502,000. Finally, Whittier Trust Co. grew its position in Wingstop by 4.2% during the 3rd quarter. Whittier Trust Co. now owns 22,813 shares of the restaurant operator’s stock valued at $4,103,000 after purchasing an additional 916 shares during 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.