Barclays Lowers Wingstop (NASDAQ:WING) Price Target to $380.00

Wingstop (NASDAQ:WING) had its price objective decreased by equities research analysts at Barclays from $470.00 to $380.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. Barclays‘s target price would indicate a potential upside of 27.97% from the company’s previous close.

A number of other equities research analysts also recently weighed in on WING. Piper Sandler raised their price target on Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Raymond James upgraded shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Thursday, August 1st. BMO Capital Markets raised their price target on shares of Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Morgan Stanley upped their price objective on shares of Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. Finally, Benchmark raised Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price target for the company in a research report on Thursday. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.85.

Wingstop Price Performance

WING stock opened at $296.94 on Thursday. The company’s 50 day simple moving average is $388.10 and its 200-day simple moving average is $387.14. Wingstop has a 52-week low of $196.54 and a 52-week high of $433.86. The firm has a market capitalization of $8.70 billion, a P/E ratio of 86.57, a P/E/G ratio of 2.74 and a beta of 1.71.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). The business had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company’s revenue was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 earnings per share. Sell-side analysts predict that Wingstop will post 3.81 EPS for the current fiscal year.

Insider Transactions at Wingstop

In other news, SVP Donnie Upshaw sold 3,199 shares of Wingstop stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the sale, the senior vice president now directly owns 97 shares in the company, valued at approximately $36,152.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Wingstop

Several institutional investors and hedge funds have recently made changes to their positions in the company. Illinois Municipal Retirement Fund acquired a new stake in Wingstop during the 1st quarter valued at $1,355,000. CWM LLC increased its stake in shares of Wingstop by 206.6% in the second quarter. CWM LLC now owns 2,287 shares of the restaurant operator’s stock valued at $967,000 after buying an additional 1,541 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Wingstop by 1,308.1% in the first quarter. BNP Paribas Financial Markets now owns 24,951 shares of the restaurant operator’s stock valued at $9,142,000 after buying an additional 23,179 shares during the last quarter. Hancock Whitney Corp acquired a new position in Wingstop during the 1st quarter worth about $1,696,000. Finally, Driehaus Capital Management LLC grew its holdings in Wingstop by 4.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 193,307 shares of the restaurant operator’s stock worth $81,703,000 after acquiring an additional 7,600 shares during 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.