Wingstop (NASDAQ:WING) Upgraded by Guggenheim to “Buy” Rating

Guggenheim upgraded shares of Wingstop (NASDAQ:WING) from a neutral rating to a buy rating in a research note issued to investors on Monday morning, Marketbeat reports. The firm currently has $280.00 price objective on the restaurant operator’s stock.

Other equities research analysts have also issued reports about the company. BTIG Research raised 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. Stephens reissued an “overweight” rating and set a $450.00 target price on shares of Wingstop in a report on Wednesday, February 19th. Wedbush dropped their price target on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Raymond James reiterated an “outperform” rating and set a $330.00 price objective (down previously from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Finally, Piper Sandler reduced their price objective on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $362.90.

Wingstop Trading Up 1.1 %

WING stock opened at $236.51 on Monday. The firm has a market cap of $6.78 billion, a P/E ratio of 63.75, a P/E/G ratio of 2.27 and a beta of 1.81. Wingstop has a 12-month low of $232.19 and a 12-month high of $433.86. The stock’s 50 day simple moving average is $287.62 and its 200 day simple moving average is $339.19.

Wingstop Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. Wingstop’s dividend payout ratio (DPR) is 29.11%.

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

Insiders Place Their Bets

In related news, SVP Raj Kapoor sold 266 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were 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 approximately $86,285.08. The trade was a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Wingstop

Several hedge funds have recently made changes to their positions in WING. Verdence Capital Advisors LLC lifted its position in shares of Wingstop by 3.9% in the 4th quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator’s stock worth $256,000 after acquiring an additional 34 shares during the period. Hollencrest Capital Management boosted its stake in shares of Wingstop by 53.8% in the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 35 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Wingstop by 0.3% during the third quarter. Public Employees Retirement System of Ohio now owns 11,523 shares of the restaurant operator’s stock worth $4,794,000 after buying an additional 35 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its position in Wingstop by 62.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after acquiring an additional 35 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of Wingstop by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 37 shares during 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.