Brokerages Set Wingstop Inc. (NASDAQ:WING) Price Target at $375.63

Shares of Wingstop Inc. (NASDAQ:WING) have received a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $368.74.

Several research analysts have recently issued reports on WING shares. Piper Sandler reduced their target price on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. The Goldman Sachs Group raised shares of Wingstop from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $458.00 to $377.00 in a research note on Friday. Morgan Stanley upped their target price on shares of Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 16th. Raymond James upgraded Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Thursday, August 1st. Finally, Truist Financial upped their price objective on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a report on Thursday, August 1st.

Wingstop Stock Performance

NASDAQ:WING opened at $343.51 on Tuesday. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 100.15, a P/E/G ratio of 3.17 and a beta of 1.76. The stock’s fifty day moving average price is $379.68 and its two-hundred day moving average price is $385.91. Wingstop has a 52-week low of $210.94 and a 52-week high of $433.86.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.09). The firm had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The company’s revenue was up 38.8% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. On average, equities analysts predict that Wingstop will post 3.68 EPS for the current fiscal year.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Friday, November 15th. Wingstop’s payout ratio is currently 31.49%.

Hedge Funds Weigh In On Wingstop

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WING. Millennium Management LLC boosted its position in Wingstop by 284.1% during the 2nd quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock worth $161,957,000 after acquiring an additional 283,412 shares during the last quarter. Renaissance Technologies LLC grew its position in Wingstop by 36.6% in the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after purchasing an additional 161,600 shares in the last quarter. AQR Capital Management LLC increased its stake in Wingstop by 66.6% in the 2nd quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock valued at $137,753,000 after buying an additional 130,248 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Wingstop by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock worth $1,071,473,000 after buying an additional 104,780 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Wingstop by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock valued at $833,026,000 after acquiring an additional 101,917 shares in the last quarter.

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.