Truist Financial Cuts Wingstop (NASDAQ:WING) Price Target to $365.00

Wingstop (NASDAQ:WING) had its price target reduced by Truist Financial from $400.00 to $365.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Other analysts have also issued reports about the stock. William Blair initiated coverage on shares of Wingstop in a research report on Wednesday, July 9th. They set an “outperform” rating for the company. Zacks Research downgraded shares of Wingstop from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Wells Fargo & Company reduced their price objective on Wingstop from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Wednesday. TD Cowen decreased their target price on Wingstop from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Sanford C. Bernstein cut their price target on Wingstop from $400.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $335.96.

Wingstop Stock Performance

WING stock opened at $238.18 on Wednesday. Wingstop has a fifty-two week low of $204.00 and a fifty-two week high of $388.14. The business’s 50-day moving average is $259.99 and its two-hundred day moving average is $300.54. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 38.79, a P/E/G ratio of 3.36 and a beta of 1.73.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.18. Wingstop had a negative return on equity of 16.17% and a net margin of 25.51%.The business had revenue of $175.74 million during the quarter, compared to the consensus estimate of $189.10 million. During the same period in the previous year, the company posted $0.88 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts predict that Wingstop will post 4.18 earnings per share for the current year.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, November 21st. Wingstop’s payout ratio is presently 19.54%.

Institutional Trading of Wingstop

Several institutional investors have recently made changes to their positions in WING. Motley Fool Asset Management LLC lifted its holdings in shares of Wingstop by 64.2% in the second quarter. Motley Fool Asset Management LLC now owns 8,879 shares of the restaurant operator’s stock worth $2,990,000 after buying an additional 3,471 shares in the last quarter. Amundi increased its holdings in Wingstop by 289.2% in the 1st quarter. Amundi now owns 18,595 shares of the restaurant operator’s stock valued at $4,514,000 after acquiring an additional 13,817 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in Wingstop by 66.3% in the 1st quarter. Stephens Investment Management Group LLC now owns 446,601 shares of the restaurant operator’s stock valued at $100,744,000 after acquiring an additional 178,041 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Wingstop by 16.7% in the 1st quarter. Principal Financial Group Inc. now owns 79,225 shares of the restaurant operator’s stock worth $17,872,000 after purchasing an additional 11,329 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Wingstop by 501.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,112 shares of the restaurant operator’s stock valued at $251,000 after purchasing an additional 927 shares during the last quarter.

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.