Wingstop (NASDAQ:WING) Upgraded to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Wingstop (NASDAQ:WING) from a hold rating to a buy rating in a research report released on Monday, MarketBeat Ratings reports. Jefferies Financial Group currently has $270.00 target price on the restaurant operator’s stock.

A number of other brokerages have also recently issued reports on WING. TD Securities cut their target price on shares of Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Morgan Stanley reduced their target price on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. UBS Group lowered their target price on Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Wells Fargo & Company initiated coverage on Wingstop in a report on Wednesday, March 26th. They issued an “overweight” rating and a $270.00 price target for the company. Finally, Stephens reaffirmed an “overweight” rating and set a $450.00 price objective on shares of Wingstop in a research note on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $350.73.

Wingstop Stock Performance

Wingstop stock opened at $225.58 on Monday. Wingstop has a fifty-two week low of $205.60 and a fifty-two week high of $433.86. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 60.80, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. The stock’s fifty day moving average is $256.50 and its two-hundred day moving average is $310.78.

Wingstop announced that its board has initiated a stock repurchase program on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the restaurant operator to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wingstop Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a $0.27 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.48%. Wingstop’s payout ratio is 29.11%.

Hedge Funds Weigh In On Wingstop

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its holdings in Wingstop by 521.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 73 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in shares of Wingstop by 62.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 35 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Wingstop during the 4th quarter valued at about $30,000. True Wealth Design LLC acquired a new position in Wingstop during the 3rd quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC boosted its holdings in Wingstop by 34.9% in the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after acquiring an additional 37 shares during the period.

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.