Morgan Stanley Issues Pessimistic Forecast for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its price target dropped by research analysts at Morgan Stanley from $345.00 to $265.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Morgan Stanley’s price target points to a potential upside of 73.76% from the company’s previous close.

Several other equities research analysts have also recently weighed in on WING. Truist Financial set a $374.00 target price on Wingstop and gave the company a “buy” rating in a report on Wednesday, February 18th. Jefferies Financial Group reiterated a “buy” rating and issued a $350.00 price objective on shares of Wingstop in a research report on Monday, December 15th. Loop Capital started coverage on Wingstop in a research note on Friday, January 9th. They set a “buy” rating and a $317.00 price objective for the company. The Goldman Sachs Group restated a “buy” rating and issued a $335.00 target price on shares of Wingstop in a report on Wednesday, February 18th. Finally, Wolfe Research assumed coverage on shares of Wingstop in a report on Monday, March 9th. They set an “outperform” rating and a $320.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $317.48.

Wingstop Stock Performance

Shares of Wingstop stock opened at $152.51 on Monday. Wingstop has a 52-week low of $142.24 and a 52-week high of $388.14. The company has a fifty day moving average of $225.85 and a 200-day moving average of $242.85. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 1.70 and a beta of 2.03.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.16. Wingstop had a net margin of 25.01% and a negative return on equity of 16.12%. The business had revenue of $175.69 million during the quarter, compared to the consensus estimate of $177.74 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts forecast that Wingstop will post 4.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kilandigalu Madati sold 2,700 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $260.73, for a total value of $703,971.00. Following the sale, the director directly owned 2,583 shares of the company’s stock, valued at $673,465.59. This represents a 51.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wesley S. Mcdonald sold 566 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $250.00, for a total transaction of $141,500.00. Following the completion of the transaction, the director owned 4,375 shares of the company’s stock, valued at approximately $1,093,750. The trade was a 11.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.72% of the company’s stock.

Institutional Trading of Wingstop

A number of hedge funds have recently made changes to their positions in the stock. Cornerstone Planning Group LLC grew its stake in shares of Wingstop by 1,650.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock worth $26,000 after buying an additional 99 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in Wingstop by 76.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after buying an additional 60 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Wingstop by 197.9% in the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock worth $34,000 after acquiring an additional 95 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in Wingstop by 54.3% in the third quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock worth $36,000 after acquiring an additional 50 shares in the last quarter. Finally, GW&K Investment Management LLC grew its stake in shares of Wingstop by 75.7% in the fourth quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock worth $45,000 after acquiring an additional 81 shares during the last quarter.

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.