Citigroup Boosts Wingstop (NASDAQ:WING) Price Target to $440.00

Wingstop (NASDAQ:WING) had its target price boosted by equities research analysts at Citigroup from $417.00 to $440.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Citigroup’s target price would indicate a potential upside of 6.37% from the company’s previous close.

A number of other analysts have also commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Wingstop from $407.00 to $458.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Barclays boosted their price objective on shares of Wingstop from $418.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on shares of Wingstop from $420.00 to $460.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. TD Cowen reaffirmed a “buy” rating and set a $450.00 price target on shares of Wingstop in a research report on Wednesday, July 31st. Finally, Raymond James raised shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Thursday, August 1st. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $382.00.

Wingstop Price Performance

Shares of Wingstop stock traded down $0.49 on Friday, hitting $413.64. The company had a trading volume of 143,427 shares, compared to its average volume of 438,081. The firm has a market capitalization of $12.12 billion, a P/E ratio of 147.35, a P/E/G ratio of 4.23 and a beta of 1.71. Wingstop has a twelve month low of $170.83 and a twelve month high of $433.86. The stock has a 50-day moving average of $390.24 and a 200-day moving average of $385.51.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $155.70 million for the quarter, compared to analyst estimates of $146.04 million. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The firm’s revenue for the quarter was up 45.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Equities analysts predict that Wingstop will post 3.78 EPS for the current year.

Insider Activity at Wingstop

In related news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $372.71, for a total value of $1,192,299.29. Following the transaction, the senior vice president now directly owns 97 shares in the company, valued at approximately $36,152.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wingstop

Several institutional investors and hedge funds have recently modified their holdings of WING. Vanguard Group Inc. increased its holdings in Wingstop by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock valued at $1,071,473,000 after buying an additional 104,780 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Wingstop by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock valued at $833,026,000 after buying an additional 101,917 shares during the period. Renaissance Technologies LLC increased its holdings in Wingstop by 36.6% in the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after buying an additional 161,600 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Wingstop by 2.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 600,905 shares of the restaurant operator’s stock valued at $253,979,000 after purchasing an additional 16,526 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Wingstop by 284.1% during the 2nd quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock valued at $161,957,000 after purchasing an additional 283,412 shares during the last quarter.

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.