Investment Analysts’ Recent Ratings Updates for Wingstop (WING)

Posted by Kyle Jackson on May 9th, 2024

A number of research firms have changed their ratings and price targets for Wingstop (NASDAQ: WING):

5/2/2024 – Wingstop had its price target raised by analysts at Barclays PLC from $350.00 to $418.00. They now have an “overweight” rating on the stock.
5/2/2024 – Wingstop had its price target raised by analysts at Wedbush from $400.00 to $425.00. They now have an “outperform” rating on the stock.
5/2/2024 – Wingstop had its price target raised by analysts at Robert W. Baird from $390.00 to $405.00. They now have an “outperform” rating on the stock.
5/2/2024 – Wingstop had its price target raised by analysts at Citigroup Inc. from $375.00 to $398.00. They now have a “neutral” rating on the stock.
5/2/2024 – Wingstop had its price target raised by analysts at BMO Capital Markets from $275.00 to $325.00. They now have a “market perform” rating on the stock.
5/2/2024 – Wingstop had its price target raised by analysts at Truist Financial Co. from $320.00 to $345.00. They now have a “hold” rating on the stock.
5/2/2024 – Wingstop had its “hold” rating reaffirmed by analysts at Benchmark Co..
5/2/2024 – Wingstop had its price target raised by analysts at Bank of America Co. from $421.00 to $461.00. They now have a “buy” rating on the stock.
5/1/2024 – Wingstop had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $425.00 price target on the stock.
5/1/2024 – Wingstop had its “buy” rating reaffirmed by analysts at TD Cowen. They now have a $410.00 price target on the stock.
4/26/2024 – Wingstop had its price target raised by analysts at Wedbush from $340.00 to $400.00. They now have an “outperform” rating on the stock.
4/23/2024 – Wingstop had its “hold” rating reaffirmed by analysts at Benchmark Co..
4/17/2024 – Wingstop had its price target raised by analysts at Citigroup Inc. from $320.00 to $375.00. They now have a “neutral” rating on the stock.
4/16/2024 – Wingstop had its price target raised by analysts at Jefferies Financial Group Inc. from $310.00 to $335.00. They now have a “hold” rating on the stock.
4/12/2024 – Wingstop is now covered by analysts at Stephens. They set an “overweight” rating and a $425.00 price target on the stock.
4/12/2024 – Wingstop had its price target raised by analysts at Morgan Stanley from $280.00 to $315.00. They now have an “equal weight” rating on the stock.
4/10/2024 – Wingstop had its “buy” rating reaffirmed by analysts at TD Cowen. They now have a $410.00 price target on the stock.
4/1/2024 – Wingstop had its “hold” rating reaffirmed by analysts at Truist Financial Co.. They now have a $292.00 price target on the stock.

Wingstop Stock Performance

Shares of NASDAQ:WING traded down $3.88 during trading on Wednesday, reaching $393.96. The company had a trading volume of 257,493 shares, compared to its average volume of 485,012. The firm’s fifty day moving average is $362.60 and its 200 day moving average is $292.52. The firm has a market capitalization of $11.57 billion, a PE ratio of 140.20, a price-to-earnings-growth ratio of 5.42 and a beta of 1.67. Wingstop Inc. has a twelve month low of $150.08 and a twelve month high of $400.96.

Wingstop (NASDAQ:WING – Get Free Report) last released its earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 EPS for the quarter, beating the consensus estimate of $0.76 by $0.22. Wingstop had a net margin of 16.75% and a negative return on equity of 19.64%. The business had revenue of $145.70 million during the quarter, compared to analyst estimates of $136.34 million. During the same period in the prior year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up 34.0% on a year-over-year basis. Equities analysts predict that Wingstop Inc. will post 3.4 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.88 annualized dividend and a dividend yield of 0.22%. Wingstop’s dividend payout ratio is 31.32%.

Insider Activity at Wingstop

In related news, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total value of $3,658,428.20. Following the transaction, the chief executive officer now owns 17,107 shares in the company, valued at $5,771,901.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the completion of the transaction, the chief executive officer now owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Marisa Carona sold 2,586 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $371.96, for a total value of $961,888.56. Following the completion of the sale, the senior vice president now directly owns 1,646 shares in the company, valued at $612,246.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,901 shares of company stock valued at $5,120,605. Insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. increased its holdings in shares of Wingstop by 29.4% during the 3rd quarter. American Century Companies Inc. now owns 1,626,558 shares of the restaurant operator’s stock worth $292,520,000 after purchasing an additional 370,032 shares during the period. Wellington Management Group LLP boosted its position in shares of Wingstop by 11.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,167,230 shares of the restaurant operator’s stock valued at $209,915,000 after acquiring an additional 121,134 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Wingstop by 1.8% during the 4th quarter. Federated Hermes Inc. now owns 1,107,852 shares of the restaurant operator’s stock valued at $284,253,000 after acquiring an additional 19,540 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Wingstop by 64.3% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,079,939 shares of the restaurant operator’s stock valued at $194,216,000 after acquiring an additional 422,727 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Wingstop by 155.7% during the 4th quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock valued at $224,093,000 after acquiring an additional 531,880 shares in the last quarter.

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.