Wingstop (NASDAQ:WING) Sees Strong Trading Volume – Here’s Why

Wingstop Inc. (NASDAQ:WING) shares saw strong trading volume on Wednesday . Approximately 1,102,610 shares were traded during mid-day trading, a decline of 3% from the previous session’s volume of 1,138,233 shares.The stock last traded at $173.4020 and had previously closed at $173.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group cut their price objective on Wingstop from $210.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. BTIG Research restated a “buy” rating and issued a $305.00 target price on shares of Wingstop in a report on Thursday, May 28th. Barclays decreased their target price on Wingstop from $330.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. DA Davidson reaffirmed a “buy” rating and set a $250.00 target price on shares of Wingstop in a report on Monday, April 20th. Finally, Bank of America reduced their target price on Wingstop from $264.00 to $234.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Wingstop presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.89.

Wingstop Stock Performance

The business’s 50 day moving average is $152.24 and its 200 day moving average is $203.55. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 44.28, a price-to-earnings-growth ratio of 2.10 and a beta of 1.79.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. The firm had revenue of $183.72 million for the quarter, compared to analysts’ expectations of $187.82 million. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 EPS. Research analysts expect that Wingstop Inc. will post 4.57 earnings per share for the current year.

Wingstop Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 15th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.7%. Wingstop’s payout ratio is currently 29.85%.

Institutional Investors Weigh In On Wingstop

Several hedge funds have recently bought and sold shares of the business. Lone Pine Capital LLC purchased a new stake in shares of Wingstop in the third quarter worth approximately $375,317,000. Capital World Investors grew its position in Wingstop by 160.6% during the third quarter. Capital World Investors now owns 740,896 shares of the restaurant operator’s stock valued at $186,469,000 after purchasing an additional 456,637 shares in the last quarter. B. Metzler seel. Sohn & Co. AG grew its position in Wingstop by 74.4% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 18,990 shares of the restaurant operator’s stock valued at $4,779,000 after purchasing an additional 8,103 shares in the last quarter. SG Americas Securities LLC increased its stake in Wingstop by 553.3% in the 4th quarter. SG Americas Securities LLC now owns 41,349 shares of the restaurant operator’s stock valued at $9,861,000 after buying an additional 35,020 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its stake in Wingstop by 113.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 11,800 shares of the restaurant operator’s stock valued at $2,814,000 after buying an additional 6,280 shares during the period.

About Wingstop

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.