Benchmark Lowers Wingstop (NASDAQ:WING) Price Target to $285.00
by Scott Moore · The Cerbat GemWingstop (NASDAQ:WING – Get Free Report) had its target price decreased by equities research analysts at Benchmark from $320.00 to $285.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Benchmark’s price target would suggest a potential upside of 45.16% from the company’s current price.
WING has been the topic of a number of other reports. Melius Research set a $350.00 target price on shares of Wingstop in a research note on Tuesday, January 20th. Citigroup raised shares of Wingstop from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $286.00 to $230.00 in a research note on Tuesday, April 7th. Morgan Stanley decreased their target price on shares of Wingstop from $345.00 to $265.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Mizuho decreased their target price on shares of Wingstop from $320.00 to $310.00 and set an “outperform” rating on the stock in a research note on Friday, January 9th. Finally, BTIG Research reissued a “buy” rating and issued a $400.00 target price on shares of Wingstop in a research note on Thursday, February 19th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $310.55.
Read Our Latest Stock Report on WING
Wingstop Stock Performance
Shares of Wingstop stock opened at $196.34 on Monday. The firm has a market capitalization of $5.36 billion, a PE ratio of 31.77, a P/E/G ratio of 2.21 and a beta of 2.03. Wingstop has a twelve month low of $142.24 and a twelve month high of $388.14. The firm’s 50-day moving average price is $207.90 and its 200 day moving average price is $237.79.
Wingstop (NASDAQ:WING – Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.16. The firm had revenue of $175.69 million for the quarter, compared to analyst estimates of $177.74 million. Wingstop had a net margin of 25.01% and a negative return on equity of 16.12%. Wingstop’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $0.92 EPS. On average, sell-side analysts predict that Wingstop will post 4.18 EPS for the current fiscal year.
Insider Activity at Wingstop
In other news, Director Wesley S. Mcdonald sold 566 shares of Wingstop stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $250.00, for a total transaction of $141,500.00. Following the sale, the director owned 4,375 shares of the company’s stock, valued at approximately $1,093,750. The trade was a 11.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kilandigalu Madati sold 2,700 shares of Wingstop stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $260.73, for a total transaction of $703,971.00. Following the sale, the director directly owned 2,583 shares in the company, valued at approximately $673,465.59. The trade was a 51.11% decrease in their position. The SEC filing for this sale provides additional information. 0.53% of the stock is currently owned by insiders.
Institutional Trading of Wingstop
Several institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised 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 buying an additional 58,386 shares during the period. Lone Pine Capital LLC purchased a new stake in shares of Wingstop during the 3rd quarter valued at approximately $375,317,000. Massachusetts Financial Services Co. MA raised 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 buying an additional 456,861 shares during the period. T. Rowe Price Investment Management Inc. raised 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 buying an additional 70,224 shares during the period. Finally, Steadfast Capital Management LP increased its holdings in Wingstop by 296.2% in the 3rd quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock valued at $239,227,000 after purchasing an additional 710,621 shares during 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.