Wingstop (NASDAQ:WING) Given New $393.00 Price Target at Truist Financial

Wingstop (NASDAQ:WING) had its price objective hoisted by Truist Financial from $345.00 to $393.00 in a research report released on Monday morning, MarketBeat Ratings reports. Truist Financial currently has a hold rating on the restaurant operator’s stock.

A number of other brokerages have also recently weighed in on WING. Citigroup lifted their target price on Wingstop from $375.00 to $398.00 and gave the company a neutral rating in a report on Thursday, May 2nd. Stephens restated an overweight rating and set a $425.00 price objective on shares of Wingstop in a research note on Wednesday, May 1st. Jefferies Financial Group boosted their price objective on Wingstop from $310.00 to $335.00 and gave the stock a hold rating in a research note on Tuesday, April 16th. The Goldman Sachs Group began coverage on Wingstop in a research note on Thursday, June 13th. They set a neutral rating and a $407.00 price objective on the stock. Finally, TD Cowen lifted their target price on Wingstop from $430.00 to $450.00 and gave the stock a buy rating in a research report on Thursday, June 13th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Wingstop currently has a consensus rating of Hold and a consensus price target of $352.39.

Wingstop Stock Down 0.5 %

WING stock opened at $418.49 on Monday. Wingstop has a 52-week low of $150.08 and a 52-week high of $431.03. The stock’s fifty day simple moving average is $397.04 and its 200-day simple moving average is $343.41. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 148.93, a price-to-earnings-growth ratio of 5.38 and a beta of 1.69.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates 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 earned $0.59 earnings per share. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. As a group, analysts anticipate that Wingstop will post 3.4 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Thursday, May 16th. Wingstop’s dividend payout ratio (DPR) is presently 31.32%.

Insider Activity

In other news, SVP Albert G. Mcgrath sold 4,230 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the completion of the transaction, the senior vice president now directly owns 8,170 shares of the company’s stock, valued at $3,238,588. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kate S. Lavelle sold 750 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $394.57, for a total transaction of $295,927.50. Following the completion of the transaction, the director now directly owns 3,567 shares in the company, valued at $1,407,431.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Albert G. Mcgrath sold 4,230 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $396.40, for a total value of $1,676,772.00. Following the transaction, the senior vice president now owns 8,170 shares of the company’s stock, valued at $3,238,588. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,191 shares of company stock valued at $2,443,547. 0.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wingstop

Hedge funds and other institutional investors have recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. acquired a new stake in Wingstop in the fourth quarter worth approximately $28,000. Rise Advisors LLC acquired a new stake in Wingstop in the first quarter worth approximately $29,000. FSC Wealth Advisors LLC acquired a new stake in Wingstop in the fourth quarter worth approximately $39,000. Massmutual Trust Co. FSB ADV lifted its position in Wingstop by 60.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 35 shares during the period. Finally, GAMMA Investing LLC lifted 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 during the period.

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.