Wingstop (NASDAQ:WING) Price Target Cut to $365.00 by Analysts at TD Cowen

Wingstop (NASDAQ:WING) had its price target cut by TD Cowen from $450.00 to $365.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Other research analysts have also issued research reports about the stock. Benchmark upgraded shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price target on the stock in a research report on Thursday. Piper Sandler lifted their price target on Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price objective on shares of Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Wedbush raised their target price on shares of Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Finally, BTIG Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target on the stock in a report on Thursday. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $379.58.

Wingstop Stock Up 3.2 %

NASDAQ:WING opened at $296.94 on Thursday. The business’s 50-day moving average price is $388.10 and its 200 day moving average price is $387.14. Wingstop has a 52-week low of $196.54 and a 52-week high of $433.86. The firm has a market cap of $8.67 billion, a P/E ratio of 86.57, a PEG ratio of 2.74 and a beta of 1.76.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The business had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. During the same quarter last year, the business posted $0.69 EPS. The business’s revenue for the quarter was up 38.8% on a year-over-year basis. Sell-side analysts expect that Wingstop will post 3.79 EPS for the current year.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.27 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a yield of 0.36%. Wingstop’s dividend payout ratio is currently 31.49%.

Insider Activity at Wingstop

In related news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction on 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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Wingstop

Several institutional investors and hedge funds have recently added to or reduced their stakes in WING. Hollencrest Capital Management acquired a new position in Wingstop during the second quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new position in Wingstop in the 2nd quarter valued at $34,000. Massmutual Trust Co. FSB ADV raised its holdings in Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after acquiring an additional 35 shares during the period. V Square Quantitative Management LLC raised its holdings in Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 40 shares during the period. Finally, Blue Trust Inc. lifted its position in Wingstop by 384.6% during the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after acquiring an additional 100 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.