Wingstop (NASDAQ:WING) Receives “Overweight” Rating from Stephens

Wingstop (NASDAQ:WING)‘s stock had its “overweight” rating reiterated by equities researchers at Stephens in a research note issued to investors on Monday,Benzinga reports. They currently have a $468.00 price target on the restaurant operator’s stock. Stephens’ target price suggests a potential upside of 37.61% from the stock’s current price.

Several other equities research analysts have also recently weighed in on WING. Piper Sandler decreased their target price on Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Barclays lowered their target price on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. The Goldman Sachs Group upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and cut their price target for the stock from $458.00 to $377.00 in a research note on Friday, November 8th. Northcoast Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research note on Friday, November 1st. Finally, Wedbush reiterated an “outperform” rating and set a $390.00 target price on shares of Wingstop in a research report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $368.74.

Wingstop Stock Up 0.8 %

NASDAQ:WING traded up $2.79 on Monday, reaching $340.09. The company’s stock had a trading volume of 495,040 shares, compared to its average volume of 461,067. Wingstop has a 12-month low of $240.60 and a 12-month high of $433.86. The stock has a 50 day moving average price of $354.08 and a 200 day moving average price of $378.71. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of 99.15, a price-to-earnings-growth ratio of 3.17 and a beta of 1.78.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The business had revenue of $162.50 million during the quarter, compared to analyst estimates of $160.24 million. During the same quarter last year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 38.8% on a year-over-year basis. Equities research analysts expect that Wingstop will post 3.68 EPS for the current fiscal year.

Wingstop declared that its Board of Directors has approved a stock repurchase program on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Driehaus Capital Management LLC boosted its position in Wingstop by 4.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 193,307 shares of the restaurant operator’s stock worth $81,703,000 after acquiring an additional 7,600 shares during the period. Scientech Research LLC purchased a new stake in shares of Wingstop during the second quarter worth $2,249,000. Los Angeles Capital Management LLC bought a new stake in Wingstop in the third quarter worth $5,010,000. Renaissance Technologies LLC increased its holdings in shares of Wingstop by 36.6% during the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after acquiring an additional 161,600 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of Wingstop by 40.8% in the third quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock valued at $193,630,000 after purchasing an additional 134,802 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.