Wingstop (NASDAQ:WING) Upgraded by Citigroup to Buy Rating

Wingstop (NASDAQ:WING) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Tuesday,Finviz reports. The brokerage currently has a $230.00 price target on the restaurant operator’s stock. Citigroup’s target price would indicate a potential upside of 39.54% from the company’s current price.

A number of other research analysts have also weighed in on WING. Barclays decreased their target price on Wingstop from $335.00 to $330.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Piper Sandler raised Wingstop from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $283.00 to $190.00 in a report on Thursday, April 2nd. Raymond James Financial raised Wingstop from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $325.00 to $240.00 in a report on Thursday, April 2nd. Melius Research set a $350.00 target price on Wingstop in a report on Tuesday, January 20th. Finally, DA Davidson started coverage on Wingstop in a report on Friday, March 6th. They set a “buy” rating and a $330.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $315.55.

Wingstop Trading Up 8.1%

WING stock opened at $164.83 on Tuesday. The firm has a market capitalization of $4.50 billion, a PE ratio of 26.67, a PEG ratio of 1.70 and a beta of 2.03. Wingstop has a 1-year low of $142.24 and a 1-year high of $388.14. The business’s 50 day simple moving average is $223.67 and its 200 day simple moving average is $242.21.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.16. The business had revenue of $175.69 million for the quarter, compared to analyst estimates of $177.74 million. Wingstop had a negative return on equity of 16.12% and a net margin of 25.01%.The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. As a group, sell-side analysts predict that Wingstop will post 4.18 EPS for the current fiscal year.

Insider Buying and Selling at Wingstop

In related news, Director Kilandigalu Madati sold 2,700 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $260.73, for a total value of $703,971.00. Following the completion of the sale, the director directly owned 2,583 shares in the company, valued at $673,465.59. The trade was a 51.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Wesley S. Mcdonald sold 566 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $250.00, for a total value of $141,500.00. Following the completion of the sale, the director owned 4,375 shares of the company’s stock, valued at $1,093,750. This trade represents a 11.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.72% of the company’s stock.

Institutional Trading of Wingstop

Several institutional investors have recently added to or reduced their stakes in WING. Price T Rowe Associates Inc. MD lifted its position in shares of Wingstop by 2.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,111,089 shares of the restaurant operator’s stock valued at $503,475,000 after acquiring an additional 58,386 shares during the period. Lone Pine Capital LLC bought a new stake in shares of Wingstop during the 3rd quarter valued at $375,317,000. Massachusetts Financial Services Co. MA lifted its position in shares of Wingstop by 48.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,405,894 shares of the restaurant operator’s stock valued at $335,292,000 after acquiring an additional 456,861 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Wingstop by 6.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,173,613 shares of the restaurant operator’s stock valued at $279,895,000 after acquiring an additional 70,224 shares during the period. Finally, Steadfast Capital Management LP lifted its position in shares of Wingstop by 296.2% during the 3rd quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock valued at $239,227,000 after acquiring an additional 710,621 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.