Wingstop (NASDAQ:WING) Receives “Overweight” Rating from Stephens

Stephens reissued their overweight rating on shares of Wingstop (NASDAQ:WING) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $450.00 target price on the restaurant operator’s stock.

A number of other research analysts have also recently commented on the stock. Morgan Stanley raised shares of Wingstop from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $385.00 to $389.00 in a research report on Tuesday, January 21st. Wedbush reaffirmed an “outperform” rating and issued a $390.00 price objective on shares of Wingstop in a report on Tuesday, November 5th. TD Cowen dropped their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Northcoast Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 target price for the company in a research note on Friday, November 1st. Finally, BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price on the stock in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Wingstop has an average rating of “Moderate Buy” and an average target price of $384.72.

Wingstop Stock Down 13.4 %

WING opened at $265.02 on Wednesday. The company has a market cap of $7.74 billion, a P/E ratio of 77.27, a P/E/G ratio of 2.74 and a beta of 1.81. The company has a 50 day moving average of $291.76 and a two-hundred day moving average of $341.94. Wingstop has a 52-week low of $258.50 and a 52-week high of $433.86.

Wingstop announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Wingstop news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $324.38, for a total transaction of $86,285.08. Following the transaction, the senior vice president now owns 266 shares of the company’s stock, valued at $86,285.08. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Wingstop

Institutional investors have recently made changes to their positions in the stock. Vise Technologies Inc. increased its stake in shares of Wingstop by 57.1% in the fourth quarter. Vise Technologies Inc. now owns 949 shares of the restaurant operator’s stock worth $270,000 after acquiring an additional 345 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Wingstop by 15.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,502 shares of the restaurant operator’s stock worth $24,868,000 after purchasing an additional 11,577 shares in the last quarter. Twinbeech Capital LP raised its position in Wingstop by 130.5% during the fourth quarter. Twinbeech Capital LP now owns 36,202 shares of the restaurant operator’s stock valued at $10,289,000 after acquiring an additional 20,493 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Wingstop by 4.9% during the 4th quarter. Tidal Investments LLC now owns 795 shares of the restaurant operator’s stock worth $226,000 after purchasing an additional 37 shares during the last quarter. Finally, Teza Capital Management LLC raised its holdings in shares of Wingstop by 29.9% during the 4th quarter. Teza Capital Management LLC now owns 3,075 shares of the restaurant operator’s stock valued at $874,000 after purchasing an additional 707 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.