Piper Sandler Has Lowered Expectations for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its price objective decreased by Piper Sandler from $375.00 to $300.00 in a research note published on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the restaurant operator’s stock.

WING has been the subject of several other reports. BMO Capital Markets boosted their price objective on Wingstop from $345.00 to $360.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Citigroup increased their price objective on Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Northcoast Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 target price on the stock in a research note on Friday, November 1st. Benchmark raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 target price for the company in a report on Thursday, October 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 note on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $373.00.

Wingstop Stock Performance

WING opened at $331.89 on Monday. The company has a fifty day moving average of $381.45 and a two-hundred day moving average of $385.89. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of 96.76, a PEG ratio of 2.74 and a beta of 1.76. Wingstop has a fifty-two week low of $204.01 and a fifty-two week high of $433.86.

Wingstop (NASDAQ:WING) last released 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 negative return on equity of 22.69% and a net margin of 17.05%. The business had revenue of $162.50 million during the quarter, compared to analyst estimates of $160.24 million. During the same period in the previous year, the company posted $0.69 EPS. The business’s revenue for the quarter was up 38.8% compared to the same quarter last year. On average, equities research analysts forecast that Wingstop will post 3.72 earnings per share for the current year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.33%. Wingstop’s payout ratio is currently 31.49%.

Institutional Trading of Wingstop

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new stake in shares of Wingstop in the second quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Wingstop during the second quarter worth about $34,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Wingstop by 60.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 35 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Wingstop by 60.6% in the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock valued at $44,000 after purchasing an additional 40 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings 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 buying an additional 100 shares in 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.