Wingstop (NASDAQ:WING) Raised to “Buy” at BTIG Research

Wingstop (NASDAQ:WING) was upgraded by analysts at BTIG Research from a “neutral” rating to a “buy” rating in a report released on Thursday, MarketBeat Ratings reports. The firm presently has a $370.00 price objective on the restaurant operator’s stock. BTIG Research’s price objective indicates a potential upside of 24.60% from the company’s current price.

A number of other analysts have also recently commented on WING. Piper Sandler lifted their price objective on Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Citigroup increased their price target on Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. BMO Capital Markets raised their target price on shares of Wingstop from $345.00 to $360.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Raymond James upgraded shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Thursday, August 1st. Finally, Wedbush upped their price objective on Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Wingstop has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Wingstop Stock Up 3.2 %

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

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

Insider Buying and Selling at Wingstop

In other news, SVP Donnie Upshaw sold 3,199 shares of the firm’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 transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.36% of the stock is owned by insiders.

Hedge Funds Weigh In On Wingstop

A number of hedge funds have recently bought and sold shares of WING. Hollencrest Capital Management bought a new position in shares of Wingstop in the 2nd quarter worth about $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in Wingstop during the second quarter worth about $34,000. Massmutual Trust Co. FSB ADV lifted its holdings in Wingstop by 60.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after acquiring an additional 35 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in Wingstop by 60.6% in the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock valued at $44,000 after acquiring an additional 40 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Wingstop by 384.6% during the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 100 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.