Wingstop (NASDAQ:WING) Price Target Lowered to $380.00 at Barclays

Wingstop (NASDAQ:WING) had its price objective lowered by Barclays from $470.00 to $380.00 in a report published on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the restaurant operator’s stock.

Other research analysts also recently issued 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. The Goldman Sachs Group raised their target price on shares of Wingstop from $407.00 to $458.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Stephens lowered their target price on Wingstop from $490.00 to $468.00 and set an “overweight” rating for the company in a report on Thursday. Piper Sandler raised their price target on Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, TD Cowen lowered their price objective on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $379.58.

Wingstop Stock Up 3.2 %

Shares of NASDAQ WING opened at $296.94 on Thursday. The stock’s 50 day moving average price is $388.10 and its two-hundred day moving average price is $387.26. Wingstop has a 52-week low of $196.54 and a 52-week high of $433.86. The stock has a market capitalization 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 issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm had revenue of $162.50 million during the quarter, compared to the consensus estimate of $160.24 million. During the same quarter last year, the firm posted $0.69 earnings per share. Wingstop’s revenue was up 38.8% compared to the same quarter last year. On average, analysts anticipate that Wingstop will post 3.79 EPS for the current year.

Wingstop Announces Dividend

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

Insiders Place Their Bets

In other news, SVP Donnie Upshaw sold 3,199 shares of Wingstop stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wingstop

Several large investors have recently made changes to their positions in WING. Hollencrest Capital Management acquired a new stake in Wingstop during the second quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Wingstop in the second quarter valued at $34,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after acquiring an additional 35 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Wingstop by 60.6% during 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 in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Wingstop by 384.6% in 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.