Wingstop’s (WING) “Outperform” Rating Reiterated at Wedbush

Wingstop (NASDAQ:WING)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $390.00 price objective on the restaurant operator’s stock. Wedbush’s price objective would suggest a potential upside of 27.09% from the company’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 brokerages have also recently issued reports on WING. Truist Financial increased their price target on shares of Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price objective on the stock in a research note on Thursday, October 31st. Morgan Stanley boosted their target price on Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 16th. Piper Sandler lowered their price objective on Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Barclays decreased their price target on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $373.00.

Wingstop Stock Performance

Shares of NASDAQ WING traded up $9.70 during midday trading on Tuesday, reaching $306.88. 314,005 shares of the stock were exchanged, compared to its average volume of 453,071. The stock has a market capitalization of $8.96 billion, a P/E ratio of 89.27, a PEG ratio of 2.74 and a beta of 1.76. The company has a 50 day simple moving average of $385.96 and a 200 day simple moving average of $387.03. Wingstop has a twelve month low of $204.01 and a twelve month high of $433.86.

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

Insider Buying and Selling

In related news, SVP Donnie Upshaw sold 3,199 shares of the firm’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 directly owns 97 shares of the company’s stock, valued at $36,152.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Wingstop

A number of large investors have recently bought and sold shares of WING. Hollencrest Capital Management acquired a new stake in Wingstop during the second quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Wingstop during the second quarter worth $34,000. Massmutual Trust Co. FSB ADV grew its position in shares of Wingstop by 60.3% in the second 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 during the period. V Square Quantitative Management LLC increased its stake in 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 last quarter. Finally, Blue Trust Inc. lifted its position 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 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.