Wingstop (WING) Price Target Increased to $59.00 by Analysts at Barclays

Wingstop (NASDAQ:WING) had its price objective lifted by Barclays from $52.00 to $59.00 in a research report sent to investors on Tuesday. Barclays currently has an equal weight rating on the restaurant operator’s stock.

WING has been the subject of a number of other reports. BidaskClub upgraded Wingstop from a buy rating to a strong-buy rating in a research note on Tuesday, June 12th. SunTrust Banks restated a buy rating and issued a $62.00 price target on shares of Wingstop in a research note on Friday, August 3rd. Wedbush restated an outperform rating and issued a $70.00 price target (up from $59.00) on shares of Wingstop in a research note on Wednesday, August 22nd. They noted that the move was a valuation call. Goldman Sachs Group downgraded Wingstop from a buy rating to a neutral rating and raised their price target for the company from $58.00 to $66.00 in a research note on Tuesday, September 11th. Finally, Stifel Nicolaus raised their price target on Wingstop from $58.00 to $80.00 and gave the company a buy rating in a research note on Monday, August 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Wingstop has a consensus rating of Buy and a consensus price target of $60.80.

Shares of Wingstop stock opened at $69.49 on Tuesday. Wingstop has a 52-week low of $31.53 and a 52-week high of $72.26. The company has a market capitalization of $2.00 billion, a P/E ratio of 94.84, a PEG ratio of 4.14 and a beta of 1.03. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of -1.53.

Wingstop (NASDAQ:WING) last announced its earnings results on Thursday, August 2nd. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. Wingstop had a negative return on equity of 24.63% and a net margin of 22.15%. The business had revenue of $37.04 million for the quarter, compared to analyst estimates of $36.92 million. During the same quarter last year, the firm earned $0.18 EPS. Wingstop’s revenue for the quarter was up 17.3% compared to the same quarter last year. Research analysts forecast that Wingstop will post 0.85 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th were paid a dividend of $0.09 per share. This is an increase from Wingstop’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, August 31st. Wingstop’s payout ratio is currently 48.65%.

In other news, Chairman Charles R. Morrison sold 17,000 shares of Wingstop stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $60.13, for a total transaction of $1,022,210.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stacy Peterson sold 5,259 shares of Wingstop stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $58.87, for a total value of $309,597.33. Following the transaction, the insider now owns 31,423 shares of the company’s stock, valued at $1,849,872.01. The disclosure for this sale can be found here. Insiders have sold a total of 31,596 shares of company stock valued at $1,966,570 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of WING. Point72 Asia Hong Kong Ltd boosted its stake in shares of Wingstop by 1,022.6% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,481 shares of the restaurant operator’s stock worth $117,000 after acquiring an additional 2,260 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Wingstop during the 2nd quarter worth approximately $118,000. Everence Capital Management Inc. acquired a new stake in Wingstop during the 2nd quarter worth approximately $212,000. Hartford Investment Management Co. acquired a new stake in Wingstop during the 2nd quarter worth approximately $228,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in Wingstop during the 1st quarter worth approximately $238,000.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.

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Analyst Recommendations for Wingstop (NASDAQ:WING)

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