Cowen Lowers Wingstop (NASDAQ:WING) Price Target to $100.00

Wingstop (NASDAQ:WINGGet Rating) had its target price trimmed by Cowen to $100.00 in a research report sent to investors on Wednesday morning, Stock Target Advisor reports. The firm currently has an outperform rating on the restaurant operator’s stock.

A number of other brokerages have also recently commented on WING. Barclays dropped their price target on Wingstop from $194.00 to $160.00 and set an overweight rating for the company in a research note on Monday, April 25th. TheStreet cut Wingstop from a b- rating to a c+ rating in a research note on Tuesday, February 22nd. Northcoast Research upgraded Wingstop from a neutral rating to a buy rating in a research note on Wednesday, March 16th. The Goldman Sachs Group increased their price objective on Wingstop from $168.00 to $186.00 and gave the company a buy rating in a report on Thursday, February 17th. Finally, Cowen decreased their price objective on Wingstop from $120.00 to $100.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Wingstop has an average rating of Buy and an average target price of $152.50.

NASDAQ WING opened at $73.16 on Wednesday. Wingstop has a fifty-two week low of $70.46 and a fifty-two week high of $187.35. The stock has a market capitalization of $2.19 billion, a PE ratio of 57.16, a PEG ratio of 4.36 and a beta of 1.40. The business has a fifty day moving average price of $101.37 and a two-hundred day moving average price of $137.83.

Wingstop (NASDAQ:WINGGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The restaurant operator reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Wingstop had a net margin of 13.25% and a negative return on equity of 10.89%. The firm had revenue of $76.20 million during the quarter, compared to the consensus estimate of $86.16 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Wingstop will post 1.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Friday, May 20th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $0.68 annualized dividend and a dividend yield of 0.93%. Wingstop’s dividend payout ratio is presently 53.13%.

In other news, COO Michael Skipworth sold 748 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $136.24, for a total value of $101,907.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles R. Morrison sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $136.50, for a total value of $136,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,429 shares of company stock valued at $330,888. 0.64% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Manchester Capital Management LLC raised its holdings in shares of Wingstop by 1,400.0% in the 3rd quarter. Manchester Capital Management LLC now owns 150 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 140 shares during the period. Pinebridge Investments L.P. bought a new stake in shares of Wingstop in the 4th quarter worth approximately $69,000. Fifth Third Bancorp raised its holdings in shares of Wingstop by 11.1% in the 4th quarter. Fifth Third Bancorp now owns 821 shares of the restaurant operator’s stock worth $142,000 after purchasing an additional 82 shares during the period. Lindbrook Capital LLC grew its stake in Wingstop by 641.3% in the 4th quarter. Lindbrook Capital LLC now owns 897 shares of the restaurant operator’s stock valued at $155,000 after buying an additional 776 shares in the last quarter. Finally, Gladius Capital Management LP purchased a new position in Wingstop in the 4th quarter valued at approximately $181,000.

About Wingstop (Get Rating)

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide.

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