Wingstop (NASDAQ:WING) Upgraded to Buy at Melius

Wingstop (NASDAQ:WING) was upgraded by analysts at Melius from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $350.00 price target on the restaurant operator’s stock. Melius’ target price points to a potential upside of 26.67% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Mizuho lowered their price target on shares of Wingstop from $320.00 to $310.00 and set an “outperform” rating for the company in a report on Friday, January 9th. Wells Fargo & Company decreased their price objective on shares of Wingstop from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Loop Capital initiated coverage on shares of Wingstop in a report on Friday, January 9th. They set a “buy” rating and a $317.00 target price for the company. The Goldman Sachs Group cut their target price on Wingstop from $370.00 to $330.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Benchmark lowered their price target on Wingstop from $340.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $340.97.

Wingstop Trading Up 2.1%

Shares of NASDAQ:WING opened at $276.31 on Tuesday. The stock has a market capitalization of $7.68 billion, a P/E ratio of 45.00, a price-to-earnings-growth ratio of 3.15 and a beta of 1.77. The stock’s 50-day moving average price is $253.36 and its 200-day moving average price is $277.43. Wingstop has a 12-month low of $204.00 and a 12-month high of $388.14.

Wingstop (NASDAQ:WING) last issued its earnings results 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. The company had revenue of $175.74 million during the quarter, compared to analysts’ expectations of $189.10 million. Wingstop had a negative return on equity of 16.17% and a net margin of 25.51%.Wingstop’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 EPS. As a group, research analysts predict that Wingstop will post 4.18 EPS for the current year.

Insider Buying and Selling at Wingstop

In other news, Director Kilandigalu Madati sold 269 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $259.97, for a total value of $69,931.93. Following the completion of the transaction, the director owned 5,283 shares of the company’s stock, valued at approximately $1,373,421.51. This represents a 4.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Wingstop

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Freedom Investment Management Inc. lifted its position in Wingstop by 2.2% during the second quarter. Freedom Investment Management Inc. now owns 1,371 shares of the restaurant operator’s stock valued at $462,000 after buying an additional 30 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Wingstop by 16.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 223 shares of the restaurant operator’s stock worth $75,000 after acquiring an additional 32 shares in the last quarter. Parallel Advisors LLC lifted its position in Wingstop by 22.3% during the 2nd quarter. Parallel Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $61,000 after acquiring an additional 33 shares during the period. Signaturefd LLC boosted its stake in Wingstop by 26.2% during the second quarter. Signaturefd LLC now owns 188 shares of the restaurant operator’s stock worth $63,000 after acquiring an additional 39 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Wingstop by 17.3% during the third quarter. Allworth Financial LP now owns 265 shares of the restaurant operator’s stock worth $67,000 after acquiring an additional 39 shares in the last quarter.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.