Wingstop (NASDAQ:WING) Price Target Cut to $330.00 by Analysts at Wells Fargo & Company

Wingstop (NASDAQ:WING) had its price target decreased by stock analysts at Wells Fargo & Company from $365.00 to $330.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 34.35% from the stock’s previous close.

WING has been the topic of several other reports. BMO Capital Markets decreased their price target on shares of Wingstop from $345.00 to $280.00 and set a “market perform” rating on the stock in a report on Wednesday. Royal Bank Of Canada assumed coverage on shares of Wingstop in a research note on Wednesday, October 8th. They set an “outperform” rating and a $315.00 target price on the stock. Piper Sandler started coverage on shares of Wingstop in a report on Wednesday, July 9th. They set an “overweight” rating for the company. Stephens reissued an “overweight” rating and set a $375.00 price objective on shares of Wingstop in a report on Tuesday. Finally, Bank of America reduced their price objective on Wingstop from $430.00 to $420.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $339.30.

Wingstop Stock Performance

Shares of WING opened at $245.62 on Wednesday. Wingstop has a 52-week low of $204.00 and a 52-week high of $388.14. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 40.78, a PEG ratio of 2.99 and a beta of 1.73. The business’s fifty day moving average is $265.40 and its 200-day moving average is $301.08.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.18. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The business had revenue of $175.74 million for the quarter, compared to analyst estimates of $189.10 million. During the same period last year, the firm posted $0.88 earnings per share. Wingstop’s revenue was up 8.1% compared to the same quarter last year. As a group, research analysts forecast that Wingstop will post 4.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Wingstop

Several institutional investors and hedge funds have recently made changes to their positions in WING. Bessemer Group Inc. raised its position in shares of Wingstop by 3.9% during the third quarter. Bessemer Group Inc. now owns 65,851 shares of the restaurant operator’s stock worth $16,574,000 after acquiring an additional 2,461 shares during the last quarter. Optimize Financial Inc acquired a new stake in Wingstop during the 3rd quarter valued at approximately $485,000. Envestnet Asset Management Inc. raised its holdings in Wingstop by 10.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 77,345 shares of the restaurant operator’s stock worth $19,466,000 after purchasing an additional 7,201 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in Wingstop by 1,650.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Finally, WCM Investment Management LLC lifted its position in shares of Wingstop by 123.9% in the 3rd quarter. WCM Investment Management LLC now owns 102,687 shares of the restaurant operator’s stock worth $25,861,000 after purchasing an additional 56,833 shares during the period.

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.