BTIG Research Issues Positive Forecast for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its target price raised by stock analysts at BTIG Research from $350.00 to $430.00 in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm currently has a “buy” rating on the restaurant operator’s stock. BTIG Research’s price target would suggest a potential upside of 19.96% from the stock’s current price.

Several other brokerages also recently weighed in on WING. Truist Financial upgraded Wingstop from a “hold” rating to a “buy” rating and boosted their target price for the stock from $274.00 to $400.00 in a research note on Tuesday, May 27th. UBS Group dropped their target price on Wingstop from $300.00 to $255.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. The Goldman Sachs Group boosted their target price on Wingstop from $310.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Wells Fargo & Company boosted their target price on Wingstop from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Finally, Stephens restated an “overweight” rating and set a $385.00 target price on shares of Wingstop in a research note on Wednesday, May 14th. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $350.96.

Wingstop Trading Down 5.9%

Shares of NASDAQ WING opened at $358.45 on Wednesday. The stock has a market capitalization of $10.00 billion, a PE ratio of 96.62, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. The stock’s fifty day simple moving average is $286.62 and its two-hundred day simple moving average is $278.16. Wingstop has a 12-month low of $204.00 and a 12-month high of $433.86.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.15. The business had revenue of $171.09 million for the quarter, compared to analysts’ expectations of $172.25 million. Wingstop had a negative return on equity of 21.59% and a net margin of 17.37%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. On average, equities analysts predict that Wingstop will post 4.18 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael Skipworth sold 10,000 shares of Wingstop stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total value of $3,373,400.00. Following the completion of the transaction, the chief executive officer now owns 47,190 shares in the company, valued at $15,919,074.60. The trade was a 17.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Raj Kapoor sold 637 shares of Wingstop stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $273.07, for a total value of $173,945.59. Following the completion of the transaction, the senior vice president now owns 517 shares of the company’s stock, valued at approximately $141,177.19. This represents a 55.20% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Wingstop

Institutional investors and hedge funds have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. purchased a new stake in Wingstop during the 1st quarter worth approximately $212,672,000. Alyeska Investment Group L.P. purchased a new stake in Wingstop during the 4th quarter worth approximately $151,802,000. Price T Rowe Associates Inc. MD increased its stake in Wingstop by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator’s stock worth $371,517,000 after buying an additional 496,717 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Wingstop during the 4th quarter worth approximately $115,301,000. Finally, Norges Bank purchased a new stake in Wingstop during the 4th quarter worth approximately $106,123,000.

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.