Stephens Issues Pessimistic Forecast for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its price target cut by analysts at Stephens from $490.00 to $468.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. Stephens’ price target would indicate a potential upside of 57.61% from the company’s previous close.

Several other equities analysts have also commented on the stock. Wedbush increased their price objective on shares of Wingstop from $425.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Morgan Stanley lifted their price target on Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 16th. Piper Sandler upped their price objective on Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Raymond James upgraded Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Thursday, August 1st. Finally, The Goldman Sachs Group increased their price target on Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Wingstop presently has an average rating of “Moderate Buy” and an average price target of $370.85.

Wingstop Stock Up 3.2 %

WING opened at $296.94 on Thursday. The company has a market capitalization of $8.70 billion, a PE ratio of 86.57, a price-to-earnings-growth ratio of 2.74 and a beta of 1.71. The firm has a 50-day simple moving average of $388.10 and a two-hundred day simple moving average of $387.14. Wingstop has a 52 week low of $196.54 and a 52 week high of $433.86.

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

Insider Activity at Wingstop

In other news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $372.71, for a total value of $1,192,299.29. Following the completion of the sale, the senior vice president now owns 97 shares of the company’s stock, valued at approximately $36,152.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.36% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WING. Vanguard Group Inc. raised its holdings in Wingstop by 3.7% in the first quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock worth $1,071,473,000 after purchasing an additional 104,780 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Wingstop by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock worth $833,026,000 after acquiring an additional 101,917 shares in the last quarter. Renaissance Technologies LLC lifted its position in Wingstop by 36.6% during the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after acquiring an additional 161,600 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Wingstop by 2.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 600,905 shares of the restaurant operator’s stock valued at $253,979,000 after acquiring an additional 16,526 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Wingstop by 284.1% in the second quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock valued at $161,957,000 after acquiring an additional 283,412 shares in the last quarter.

Wingstop Company Profile

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.