Analysts Set Wingstop Inc. (NASDAQ:WING) Price Target at $171.69

Wingstop Inc. (NASDAQ:WING) has been given an average recommendation of “Buy” by the twenty-one analysts that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $173.25.

Several equities analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Wingstop from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. BTIG Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $175.00 price objective on the stock in a report on Thursday, June 10th. Zacks Investment Research lowered shares of Wingstop from a “buy” rating to a “hold” rating in a report on Friday, July 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $168.00 target price (up from $159.00) on shares of Wingstop in a report on Thursday, July 29th. They noted that the move was a valuation call. Finally, Stephens increased their target price on shares of Wingstop from $172.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th.

In related news, CEO Charles R. Morrison sold 21,139 shares of the firm’s stock in a transaction on Wednesday, July 28th. The shares were sold at an average price of $161.20, for a total value of $3,407,606.80. Following the completion of the transaction, the chief executive officer now owns 130,102 shares of the company’s stock, valued at $20,972,442.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Nicolas Boudet sold 359 shares of the firm’s stock in a transaction on Friday, July 30th. The shares were sold at an average price of $173.11, for a total transaction of $62,146.49. The disclosure for this sale can be found here. Insiders have sold 84,171 shares of company stock valued at $14,120,700 in the last three months. 0.61% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in shares of Wingstop by 9.9% in the 1st quarter. BlackRock Inc. now owns 3,788,781 shares of the restaurant operator’s stock valued at $481,818,000 after acquiring an additional 339,858 shares during the period. Fred Alger Management LLC grew its position in shares of Wingstop by 0.8% in the 1st quarter. Fred Alger Management LLC now owns 1,755,989 shares of the restaurant operator’s stock valued at $223,309,000 after acquiring an additional 14,362 shares during the period. Federated Hermes Inc. grew its position in shares of Wingstop by 1.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,394,872 shares of the restaurant operator’s stock valued at $219,874,000 after acquiring an additional 19,738 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Wingstop by 8,152.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,230,083 shares of the restaurant operator’s stock valued at $193,898,000 after acquiring an additional 1,215,178 shares during the period. Finally, State Street Corp grew its position in shares of Wingstop by 1.0% in the 2nd quarter. State Street Corp now owns 891,469 shares of the restaurant operator’s stock valued at $140,522,000 after acquiring an additional 8,588 shares during the period.

Shares of WING stock opened at $178.95 on Friday. The firm’s 50 day moving average is $168.53 and its 200-day moving average is $150.23. Wingstop has a 1 year low of $112.47 and a 1 year high of $186.02. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 188.37, a PEG ratio of 11.23 and a beta of 1.33.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, July 28th. The restaurant operator reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.05. Wingstop had a net margin of 10.35% and a negative return on equity of 13.51%. The business had revenue of $74.00 million for the quarter, compared to analyst estimates of $73.38 million. Equities research analysts anticipate that Wingstop will post 1.49 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Friday, August 13th were given a dividend of $0.17 per share. This is an increase from Wingstop’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $0.68 annualized dividend and a dividend yield of 0.38%. Wingstop’s dividend payout ratio is currently 62.39%.

About Wingstop

Wingstop, Inc is a franchisor and operator of restaurants, which engages in the provision of cooked-to-order, hand-sauced, and tossed chicken wings. It operates through Franchise and Company segments. The Franchise segment consists of domestic and international franchise restaurants. The Company segment comprises company-owned restaurants.

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Analyst Recommendations for Wingstop (NASDAQ:WING)

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