Truist Financial Boosts Wingstop (NASDAQ:WING) Price Target to $393.00

Wingstop (NASDAQ:WING) had its price objective raised by equities researchers at Truist Financial from $345.00 to $393.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s price target suggests a potential downside of 7.02% from the company’s previous close.

A number of other brokerages have also recently commented on WING. Jefferies Financial Group boosted their target price on shares of Wingstop from $310.00 to $335.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. The Goldman Sachs Group started coverage on shares of Wingstop in a research note on Thursday, June 13th. They set a “neutral” rating and a $407.00 target price for the company. Wedbush boosted their price target on Wingstop from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Citigroup raised their price objective on Wingstop from $375.00 to $398.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Benchmark reissued a “hold” rating on shares of Wingstop in a report on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $352.39.

Wingstop Stock Down 0.8 %

Shares of Wingstop stock opened at $422.66 on Monday. The business has a 50 day moving average of $392.43 and a 200 day moving average of $339.86. Wingstop has a 52 week low of $150.08 and a 52 week high of $431.03. The company has a market cap of $12.38 billion, a PE ratio of 150.41, a P/E/G ratio of 5.41 and a beta of 1.69.

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

Insider Buying and Selling at Wingstop

In other Wingstop news, SVP Albert G. Mcgrath sold 4,230 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the completion of the sale, the senior vice president now directly owns 8,170 shares in the company, valued at approximately $3,238,588. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Albert G. Mcgrath sold 4,230 shares of Wingstop stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the transaction, the senior vice president now owns 8,170 shares in the company, valued at approximately $3,238,588. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ania Smith sold 566 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $380.91, for a total transaction of $215,595.06. Following the sale, the director now directly owns 1,164 shares of the company’s stock, valued at approximately $443,379.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,191 shares of company stock valued at $2,443,547. 0.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Wingstop in the fourth quarter valued at about $28,000. Rise Advisors LLC purchased a new stake in Wingstop during the 1st quarter valued at approximately $29,000. FSC Wealth Advisors LLC bought a new stake in shares of Wingstop during the fourth quarter valued at approximately $39,000. GAMMA Investing LLC lifted its holdings in shares of Wingstop by 53.3% in the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after buying an additional 40 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Wingstop during the fourth quarter worth $47,000.

Wingstop Company Profile

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.