Wingstop (NASDAQ:WING) Given Outperform Rating at Wedbush

Wingstop (NASDAQ:WING)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research note issued on Tuesday, Benzinga reports. They currently have a $390.00 price objective on the restaurant operator’s stock. Wedbush’s target price would suggest a potential upside of 27.09% from the stock’s current price. Wedbush also issued estimates for Wingstop’s Q4 2024 earnings at $0.84 EPS, FY2024 earnings at $3.63 EPS, Q1 2025 earnings at $1.13 EPS, Q2 2025 earnings at $1.16 EPS, Q4 2025 earnings at $1.13 EPS and FY2025 earnings at $4.59 EPS.

Several other analysts also recently weighed in on WING. Citigroup lifted their price objective on shares of Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. The Goldman Sachs Group boosted their price target on Wingstop from $407.00 to $458.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Piper Sandler lowered their price target on Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday. Morgan Stanley increased their price objective on shares of Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, July 16th. Finally, Stephens dropped their target price on Wingstop from $490.00 to $468.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Wingstop currently has a consensus rating of “Moderate Buy” and an average price target of $373.00.

Wingstop Price Performance

Wingstop stock traded up $9.70 during midday trading on Tuesday, hitting $306.88. 314,005 shares of the stock were exchanged, compared to its average volume of 453,071. The company has a 50 day moving average price of $385.96 and a two-hundred day moving average price of $387.03. The firm has a market cap of $8.96 billion, a P/E ratio of 89.27, a P/E/G ratio of 2.74 and a beta of 1.76. Wingstop has a 1 year low of $204.01 and a 1 year high of $433.86.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). The business had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The firm’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same period last year, the company posted $0.69 earnings per share. As a group, analysts predict that Wingstop will post 3.72 EPS for the current year.

Insider Transactions at Wingstop

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total value of $1,192,299.29. Following the completion of the transaction, the senior vice president now owns 97 shares of the company’s stock, valued at $36,152.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management bought a new position in Wingstop during the second quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Wingstop during the 2nd quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after buying an additional 35 shares during the period. V Square Quantitative Management LLC boosted its stake in Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock valued at $44,000 after buying an additional 40 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Wingstop by 384.6% in the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after acquiring an additional 100 shares during the period.

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.