Wingstop (NASDAQ:WING) Price Target Lowered to $305.00 at TD Securities

Wingstop (NASDAQ:WING) had its target price dropped by investment analysts at TD Securities from $365.00 to $305.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. TD Securities’ price target would indicate a potential upside of 30.33% from the company’s previous close.

A number of other brokerages have also recently weighed in on WING. TD Cowen decreased their price target on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Morgan Stanley raised shares of Wingstop from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $385.00 to $389.00 in a research report on Tuesday, January 21st. Piper Sandler decreased their price objective on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Wedbush decreased their price objective on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Benchmark raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective for the company in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $367.05.

Wingstop Trading Down 5.3 %

Shares of Wingstop stock opened at $234.02 on Thursday. The company has a fifty day moving average price of $288.89 and a 200 day moving average price of $340.46. Wingstop has a twelve month low of $232.19 and a twelve month high of $433.86. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 63.08, a price-to-earnings-growth ratio of 2.38 and a beta of 1.81.

Wingstop announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, SVP Raj Kapoor sold 266 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the sale, the senior vice president now owns 266 shares in the company, valued at $86,285.08. This represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Wingstop

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vise Technologies Inc. raised its stake in Wingstop by 57.1% during the fourth quarter. Vise Technologies Inc. now owns 949 shares of the restaurant operator’s stock worth $270,000 after acquiring an additional 345 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Wingstop by 15.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,502 shares of the restaurant operator’s stock worth $24,868,000 after acquiring an additional 11,577 shares during the period. Twinbeech Capital LP raised its stake in Wingstop by 130.5% during the fourth quarter. Twinbeech Capital LP now owns 36,202 shares of the restaurant operator’s stock worth $10,289,000 after acquiring an additional 20,493 shares during the period. Tidal Investments LLC grew its position in Wingstop by 4.9% in the 4th quarter. Tidal Investments LLC now owns 795 shares of the restaurant operator’s stock worth $226,000 after purchasing an additional 37 shares during the last quarter. Finally, Teza Capital Management LLC grew its position in Wingstop by 29.9% in the 4th quarter. Teza Capital Management LLC now owns 3,075 shares of the restaurant operator’s stock worth $874,000 after purchasing an additional 707 shares during the last quarter.

About Wingstop

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.