Wingstop (NASDAQ:WING) Price Target Increased to $425.00 by Analysts at Wedbush

Wingstop (NASDAQ:WING) had its price objective lifted by Wedbush from $400.00 to $425.00 in a research report sent to investors on Thursday morning, Benzinga reports. Wedbush currently has an outperform rating on the restaurant operator’s stock. Wedbush also issued estimates for Wingstop’s Q2 2024 earnings at $0.74 EPS, Q3 2024 earnings at $0.84 EPS, Q3 2024 earnings at $0.83 EPS, FY2024 earnings at $3.08 EPS, FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $0.97 EPS, Q3 2025 earnings at $1.05 EPS, Q4 2025 earnings at $0.99 EPS and FY2025 earnings at $3.66 EPS.

Other analysts have also recently issued reports about the stock. Morgan Stanley increased their price objective on shares of Wingstop from $280.00 to $315.00 and gave the stock an equal weight rating in a research note on Friday, April 12th. Truist Financial reissued a hold rating and set a $292.00 price target on shares of Wingstop in a report on Monday, April 1st. Stifel Nicolaus upped their price objective on Wingstop from $270.00 to $330.00 and gave the stock a buy rating in a research note on Friday, February 16th. Benchmark reissued a hold rating on shares of Wingstop in a report on Tuesday, April 23rd. Finally, Robert W. Baird increased their price objective on shares of Wingstop from $390.00 to $405.00 and gave the company an outperform rating in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $330.39.

Wingstop Trading Up 1.8 %

WING opened at $388.55 on Thursday. Wingstop has a 12-month low of $150.08 and a 12-month high of $396.00. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 138.27, a PEG ratio of 6.30 and a beta of 1.67. The company’s 50 day moving average is $360.49 and its 200 day moving average is $288.00.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.22. The business had revenue of $145.70 million for the quarter, compared to analysts’ expectations of $136.34 million. Wingstop had a net margin of 16.75% and a negative return on equity of 19.64%. The company’s revenue was up 34.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 EPS. As a group, analysts predict that Wingstop will post 3.15 EPS for the current fiscal year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Thursday, May 16th. Wingstop’s dividend payout ratio is presently 31.32%.

Insider Buying and Selling at Wingstop

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Franklin Resources Inc. grew its position in Wingstop by 155.7% during the fourth quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock valued at $224,093,000 after buying an additional 531,880 shares during the period. Artisan Partners Limited Partnership grew its stake in Wingstop by 64.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,079,939 shares of the restaurant operator’s stock valued at $194,216,000 after acquiring an additional 422,727 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Wingstop during the fourth quarter valued at $103,899,000. American Century Companies Inc. increased its stake 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 purchasing an additional 370,032 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Wingstop during the fourth quarter worth about $80,423,000.

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.