Brokerages Set Wingstop Inc. (NASDAQ:WING) Target Price at $241.81

Shares of Wingstop Inc. (NASDAQ:WING) have received a consensus rating of “Moderate Buy” from the thirty research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, twenty-two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $241.8148.

WING has been the topic of several recent research reports. Mizuho dropped their price target on shares of Wingstop from $280.00 to $240.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Stephens reissued an “overweight” rating and set a $200.00 price objective on shares of Wingstop in a report on Thursday, July 30th. BTIG Research lowered their price objective on Wingstop from $305.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Piper Sandler set a $173.00 price objective on Wingstop in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company dropped their target price on Wingstop from $170.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th.

Hedge Funds Weigh In On Wingstop

Several large investors have recently bought and sold shares of WING. SBI Securities Co. Ltd. grew its stake in shares of Wingstop by 76.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock worth $33,000 after acquiring an additional 60 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Wingstop by 197.9% during the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 95 shares in the last quarter. Allworth Financial LP bought a new position in shares of Wingstop during the second quarter valued at about $34,000. GW&K Investment Management LLC boosted its holdings in Wingstop by 75.7% during the fourth quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock worth $45,000 after purchasing an additional 81 shares during the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in Wingstop during the second quarter worth about $46,000.

Wingstop Trading Up 5.2%

Shares of WING stock opened at $120.53 on Monday. The firm has a fifty day simple moving average of $144.52 and a two-hundred day simple moving average of $173.49. Wingstop has a 12 month low of $110.44 and a 12 month high of $342.10. The firm has a market capitalization of $3.28 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 1.36 and a beta of 1.81.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. The firm had revenue of $185.56 million for the quarter, compared to analyst estimates of $190.25 million. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $1.00 earnings per share. On average, equities analysts predict that Wingstop will post 4.5 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 5th. Investors of record on Saturday, August 15th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 14th. This is an increase from Wingstop’s previous quarterly dividend of $0.30. Wingstop’s payout ratio is currently 31.35%.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.