Wingstop (NASDAQ:WING) Stock Rating Upgraded by BTIG Research

Wingstop (NASDAQ:WING) was upgraded by BTIG Research from a “neutral” rating to a “buy” rating in a report issued on Thursday, Briefing.com reports. The brokerage presently has a $370.00 price target on the restaurant operator’s stock. BTIG Research’s target price indicates a potential upside of 27.59% from the company’s current price.

Several other research firms also recently issued reports on WING. Citigroup lifted their price target on Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Morgan Stanley lifted their price target on Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 16th. Piper Sandler lifted their price target on Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Stephens reissued an “overweight” rating and issued a $490.00 price target on shares of Wingstop in a research note on Thursday, October 24th. Finally, Barclays raised their price objective on Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $379.95.

Wingstop Stock Down 21.4 %

NASDAQ:WING opened at $289.99 on Thursday. Wingstop has a 12-month low of $177.88 and a 12-month high of $433.86. The firm has a market capitalization of $8.50 billion, a P/E ratio of 103.20, a P/E/G ratio of 3.41 and a beta of 1.71. The stock’s fifty day simple moving average is $392.16 and its 200-day simple moving average is $388.27.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. The business had revenue of $155.70 million for the quarter, compared to the consensus estimate of $146.04 million. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The firm’s revenue was up 45.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. As a group, equities research analysts expect that Wingstop will post 3.81 earnings per share for the current year.

Insider Buying and Selling at Wingstop

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the business’s stock in a transaction that occurred 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 directly owns 97 shares in the company, valued at $36,152.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Wingstop by 3.7% during the first quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock valued at $1,071,473,000 after purchasing an additional 104,780 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Wingstop by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock valued at $833,026,000 after purchasing an additional 101,917 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wingstop by 36.6% during the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after buying an additional 161,600 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Wingstop by 2.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 600,905 shares of the restaurant operator’s stock worth $253,979,000 after buying an additional 16,526 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Wingstop by 284.1% during the second quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock worth $161,957,000 after buying an additional 283,412 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.