Wingstop (NASDAQ:WING) PT Raised to $461.00 at Bank of America

Wingstop (NASDAQ:WING) had its price target raised by investment analysts at Bank of America from $421.00 to $461.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Bank of America‘s target price points to a potential upside of 20.66% from the company’s current price.

Several other analysts have also recently issued reports on WING. Sanford C. Bernstein started coverage on Wingstop in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $340.00 target price on the stock. Benchmark reiterated a “hold” rating on shares of Wingstop in a research report on Thursday. TD Cowen restated a “buy” rating and set a $410.00 target price on shares of Wingstop in a report on Wednesday. Citigroup raised their price target on Wingstop from $320.00 to $375.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, Stifel Nicolaus boosted their price objective on shares of Wingstop from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $318.39.

Wingstop Stock Down 0.5 %

Shares of WING traded down $1.93 during trading hours on Thursday, hitting $382.05. The company had a trading volume of 305,175 shares, compared to its average volume of 482,608. Wingstop has a 52-week low of $150.08 and a 52-week high of $396.00. The stock’s 50 day moving average price is $358.55 and its 200 day moving average price is $285.89. The firm has a market cap of $11.22 billion, a P/E ratio of 162.86, a P/E/G ratio of 6.61 and a beta of 1.67.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.22. Wingstop had a negative return on equity of 17.66% and a net margin of 15.25%. The business had revenue of $145.70 million for the quarter, compared to analysts’ expectations of $136.34 million. During the same period in the previous year, the firm earned $0.59 EPS. The business’s quarterly revenue was up 34.0% on a year-over-year basis. On average, research analysts expect that Wingstop will post 3.03 EPS for the current fiscal year.

Insider Activity at Wingstop

In other news, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the transaction, the chief executive officer now owns 17,107 shares in the company, valued at approximately $5,771,901.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Marisa Carona sold 2,586 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $371.96, for a total transaction of $961,888.56. Following the sale, the senior vice president now directly owns 1,646 shares in the company, valued at approximately $612,246.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of Wingstop stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the transaction, the chief executive officer now owns 17,107 shares in the company, valued at approximately $5,771,901.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,901 shares of company stock worth $5,120,605. 0.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its position in shares of Wingstop by 29.4% during the third quarter. American Century Companies Inc. now owns 1,626,558 shares of the restaurant operator’s stock worth $292,520,000 after acquiring an additional 370,032 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Wingstop by 11.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,167,230 shares of the restaurant operator’s stock valued at $209,915,000 after purchasing an additional 121,134 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Wingstop by 1.8% during the fourth quarter. Federated Hermes Inc. now owns 1,107,852 shares of the restaurant operator’s stock valued at $284,253,000 after purchasing an additional 19,540 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of Wingstop by 64.3% during the third quarter. Artisan Partners Limited Partnership now owns 1,079,939 shares of the restaurant operator’s stock valued at $194,216,000 after purchasing an additional 422,727 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Wingstop by 155.7% in the fourth quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock worth $224,093,000 after purchasing an additional 531,880 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.