Stephens Reaffirms Overweight Rating for Wingstop (NASDAQ:WING)

Stephens reissued their overweight rating on shares of Wingstop (NASDAQ:WING) in a research note published on Thursday morning, Benzinga reports. Stephens currently has a $490.00 price objective on the restaurant operator’s stock.

A number of other analysts have also recently weighed in on WING. The Goldman Sachs Group raised their price target on Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Raymond James upgraded Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Thursday, August 1st. BMO Capital Markets increased their price target on shares of Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Wedbush boosted their price objective on shares of Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Finally, Truist Financial upped their target price on shares of Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $382.88.

Wingstop Stock Performance

WING stock opened at $359.27 on Thursday. The company’s 50 day moving average price is $395.02 and its 200 day moving average price is $388.50. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 127.85, a PEG ratio of 3.64 and a beta of 1.71. Wingstop has a fifty-two week low of $173.74 and a fifty-two week high of $433.86.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The company had revenue of $155.70 million for the quarter, compared to the consensus estimate of $146.04 million. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The company’s quarterly revenue was up 45.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. Equities analysts forecast that Wingstop will post 3.8 EPS for the current fiscal year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Friday, August 16th. This is a boost from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s dividend payout ratio is 38.43%.

Insider Buying and Selling

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the completion of the transaction, the senior vice president now owns 97 shares in the company, valued at approximately $36,152.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new stake in shares of Wingstop in the 2nd quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Wingstop during the 2nd quarter worth $34,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 35 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Wingstop by 60.6% in the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock valued at $44,000 after purchasing an additional 40 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Wingstop by 384.6% during the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after buying an additional 100 shares in the last quarter.

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.