Wingstop (NASDAQ:WING) Given New $320.00 Price Target at Wells Fargo & Company

Wingstop (NASDAQ:WING) had its price target boosted by Wells Fargo & Company from $300.00 to $320.00 in a research report sent to investors on Wednesday, MarketBeat Ratings reports. They currently have an overweight rating on the restaurant operator’s stock.

A number of other equities analysts have also recently commented on the stock. Cowen reissued a “buy” rating on shares of Wingstop in a research note on Thursday, May 1st. Stephens reiterated an “overweight” rating and issued a $385.00 price target on shares of Wingstop in a research report on Wednesday, April 30th. BMO Capital Markets reduced their price objective on Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a research note on Thursday, February 20th. Barclays lowered their price objective on Wingstop from $315.00 to $260.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, Guggenheim lifted their target price on Wingstop from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Six research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $331.78.

Wingstop Price Performance

NASDAQ WING opened at $306.25 on Wednesday. Wingstop has a 1-year low of $204.00 and a 1-year high of $433.86. The business has a 50 day simple moving average of $234.80 and a two-hundred day simple moving average of $275.66. The stock has a market capitalization of $8.55 billion, a PE ratio of 82.55, a P/E/G ratio of 2.27 and a beta of 1.80.

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

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Friday, May 16th. Wingstop’s payout ratio is presently 18.09%.

Insider Buying and Selling

In related news, SVP Raj Kapoor sold 637 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $273.07, for a total value of $173,945.59. Following the transaction, the senior vice president now owns 517 shares of the company’s stock, valued at $141,177.19. This represents a 55.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wingstop

A number of institutional investors and hedge funds have recently bought and sold shares of the company. FORA Capital LLC grew its position in shares of Wingstop by 20.7% during the 1st quarter. FORA Capital LLC now owns 15,292 shares of the restaurant operator’s stock worth $3,450,000 after buying an additional 2,622 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Wingstop in the first quarter worth about $1,100,000. Freedom Investment Management Inc. grew its holdings in Wingstop by 13.5% during the 1st quarter. Freedom Investment Management Inc. now owns 1,341 shares of the restaurant operator’s stock worth $302,000 after acquiring an additional 159 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Wingstop by 501.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,112 shares of the restaurant operator’s stock worth $251,000 after acquiring an additional 927 shares in the last quarter. Finally, AlphaQuest LLC increased its position in Wingstop by 225.4% during the 1st quarter. AlphaQuest LLC now owns 1,025 shares of the restaurant operator’s stock valued at $231,000 after purchasing an additional 710 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.