Wingstop (NASDAQ:WING) Price Target Lowered to $325.00 at Benchmark

Wingstop (NASDAQ:WING) had its price target decreased by equities research analysts at Benchmark from $340.00 to $325.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Benchmark’s target price indicates a potential upside of 27.50% from the stock’s previous close.

Several other research firms also recently weighed in on WING. 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. Morgan Stanley decreased their target price on Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday. TD Cowen dropped their price target on Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Stephens restated an “overweight” rating and set a $450.00 price target on shares of Wingstop in a research note on Wednesday. Finally, BTIG Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price objective for the company in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $374.00.

Wingstop Price Performance

WING stock opened at $254.89 on Thursday. Wingstop has a 12 month low of $258.50 and a 12 month high of $433.86. The firm’s 50-day moving average is $291.76 and its 200 day moving average is $341.94. The company has a market capitalization of $7.45 billion, a PE ratio of 74.06, a P/E/G ratio of 2.75 and a beta of 1.81.

Wingstop declared that its Board of Directors has approved a stock buyback plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the completion of the transaction, the senior vice president now owns 266 shares of the company’s stock, valued at approximately $86,285.08. This trade represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wingstop

Several hedge funds have recently made changes to their positions in WING. Blue Trust Inc. increased its holdings in shares of 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 purchasing an additional 100 shares during the period. Raymond James & Associates boosted its position in Wingstop by 104.0% in the third quarter. Raymond James & Associates now owns 49,908 shares of the restaurant operator’s stock valued at $20,766,000 after buying an additional 25,440 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Wingstop by 41,244.9% in the 3rd quarter. International Assets Investment Management LLC now owns 65,325 shares of the restaurant operator’s stock worth $27,180,000 after buying an additional 65,167 shares during the period. NorthCrest Asset Manangement LLC raised its position in Wingstop by 5.7% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 5,941 shares of the restaurant operator’s stock worth $2,472,000 after buying an additional 322 shares during the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in Wingstop during the 3rd quarter valued at approximately $224,000.

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.