Wingstop (NASDAQ:WING) Upgraded at Raymond James

Wingstop (NASDAQ:WING) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, Marketbeat.com reports. The brokerage presently has a $42.00 price objective on the restaurant operator’s stock. Raymond James’ price target suggests a potential downside of 88.77% from the stock’s current price.

Several other research analysts also recently commented on WING. BMO Capital Markets boosted their target price on Wingstop from $275.00 to $325.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. 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. Truist Financial boosted their target price on Wingstop from $393.00 to $407.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Stifel Nicolaus boosted their target price on Wingstop from $420.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, Barclays boosted their target price on Wingstop from $350.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Wingstop has a consensus rating of “Hold” and a consensus target price of $342.89.

Wingstop Trading Down 0.7 %

NASDAQ WING opened at $373.88 on Thursday. The stock’s 50 day moving average is $394.47 and its two-hundred day moving average is $360.60. The company has a market capitalization of $10.95 billion, a price-to-earnings ratio of 133.05, a PEG ratio of 4.29 and a beta of 1.69. Wingstop has a 1-year low of $150.08 and a 1-year high of $431.03.

Wingstop (NASDAQ:WING) last released its quarterly earnings data 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. The company had revenue of $145.70 million for 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 company’s quarterly revenue was up 34.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. On average, analysts predict that Wingstop will post 3.47 earnings per share for the current year.

Insider Activity

In other news, SVP Albert G. Mcgrath sold 4,230 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $396.40, for a total value of $1,676,772.00. Following the completion of the transaction, the senior vice president now owns 8,170 shares of the company’s stock, valued at approximately $3,238,588. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Ania Smith sold 566 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $380.91, for a total value of $215,595.06. Following the sale, the director now directly owns 1,164 shares of the company’s stock, valued at approximately $443,379.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Albert G. Mcgrath sold 4,230 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the completion of the sale, the senior vice president now directly owns 8,170 shares in the company, valued at $3,238,588. The disclosure for this sale can be found here. Insiders sold 6,191 shares of company stock valued at $2,443,547 in the last quarter. Company insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Wingstop

A number of institutional investors and hedge funds have recently modified their holdings of WING. Rise Advisors LLC bought a new stake in shares of Wingstop in the 1st quarter valued at about $29,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 35 shares during the period. GAMMA Investing LLC raised its holdings in shares of Wingstop by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 40 shares during the period. C M Bidwell & Associates Ltd. bought a new position in Wingstop in the 4th quarter valued at about $47,000. Finally, SRS Capital Advisors Inc. raised its holdings in Wingstop by 323.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 233 shares of the restaurant operator’s stock valued at $60,000 after acquiring an additional 178 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.