Wingstop (NASDAQ:WING) Receives Overweight Rating from Stephens

Stephens reaffirmed their overweight rating on shares of Wingstop (NASDAQ:WING) in a report issued on Thursday, Benzinga reports. Stephens currently has a $490.00 price target on the restaurant operator’s stock.

A number of other brokerages also recently weighed in on WING. Morgan Stanley upped their price objective on shares of Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 16th. Citigroup raised their price objective on Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a report on Friday, October 4th. The Goldman Sachs Group increased their target price on Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Truist Financial boosted their price target on shares of Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Raymond James raised shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Thursday, August 1st. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $382.88.

Wingstop Price Performance

NASDAQ:WING opened at $359.27 on Thursday. The company’s fifty day moving average price is $395.02 and its 200-day moving average price is $388.50. Wingstop has a 1-year low of $173.74 and a 1-year high of $433.86. The firm has a market capitalization of $10.53 billion, a P/E ratio of 127.85, a PEG ratio of 3.64 and a beta of 1.71.

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

Wingstop Increases Dividend

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

Insider Activity at Wingstop

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the transaction, the senior vice president now directly owns 97 shares in the company, valued at $36,152.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Wingstop

A number of institutional investors have recently modified their holdings of the company. WoodTrust Financial Corp acquired a new position in Wingstop in the 1st quarter valued at about $284,000. State of Michigan Retirement System increased its stake in Wingstop by 2.8% during the 1st quarter. State of Michigan Retirement System now owns 7,272 shares of the restaurant operator’s stock worth $2,664,000 after buying an additional 200 shares during the period. West Oak Capital LLC acquired a new stake in Wingstop during the 1st quarter worth approximately $92,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Wingstop in the 1st quarter valued at approximately $370,000. Finally, Retirement Systems of Alabama boosted its position in Wingstop by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 36,938 shares of the restaurant operator’s stock valued at $13,534,000 after buying an additional 98 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.