Truist Financial Raises Wingstop (NASDAQ:WING) Price Target to $345.00

Wingstop (NASDAQ:WING) had its target price raised by research analysts at Truist Financial from $320.00 to $345.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s target price suggests a potential downside of 10.67% from the stock’s previous close.

Several other research analysts also recently weighed in on WING. Robert W. Baird increased their price target on Wingstop from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Thursday. BMO Capital Markets increased their target price on shares of Wingstop from $235.00 to $275.00 and gave the stock a “market perform” rating in a research report on Thursday, February 22nd. Benchmark reaffirmed a “hold” rating on shares of Wingstop in a report on Thursday. TD Cowen reissued a “buy” rating and set a $410.00 target price on shares of Wingstop in a report on Wednesday. Finally, Wedbush raised their price target on Wingstop from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Wingstop has an average rating of “Hold” and a consensus target price of $302.11.

Wingstop Stock Up 0.6 %

NASDAQ WING traded up $2.23 during trading hours on Thursday, reaching $386.21. 101,287 shares of the company were exchanged, compared to its average volume of 480,214. The stock has a market capitalization of $11.34 billion, a P/E ratio of 162.42, a P/E/G ratio of 6.61 and a beta of 1.67. Wingstop has a 1 year low of $150.08 and a 1 year high of $396.00. The business’s 50 day simple moving average is $358.55 and its 200-day simple moving average is $285.89.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $127.06 million during the quarter, compared to analyst estimates of $120.47 million. Wingstop had a net margin of 15.25% and a negative return on equity of 17.66%. Wingstop’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. As a group, sell-side analysts anticipate that Wingstop will post 3.03 earnings per share for the current year.

Insider Buying and Selling at Wingstop

In other news, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the transaction, the chief executive officer now directly owns 17,107 shares in the company, valued at approximately $5,771,901.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Marisa Carona sold 2,586 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $371.96, for a total transaction of $961,888.56. Following the completion of the sale, the senior vice president now owns 1,646 shares of the company’s stock, valued at $612,246.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the transaction, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The disclosure for this sale can be found here. Insiders have sold 14,901 shares of company stock worth $5,120,605 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

A number of institutional investors have recently bought and sold shares of WING. Congress Asset Management Co. MA lifted its position in Wingstop by 0.3% in the 4th quarter. Congress Asset Management Co. MA now owns 11,380 shares of the restaurant operator’s stock valued at $2,920,000 after acquiring an additional 34 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Wingstop by 16.9% during the 4th quarter. Quadrant Capital Group LLC now owns 263 shares of the restaurant operator’s stock valued at $67,000 after buying an additional 38 shares during the period. Kovack Advisors Inc. boosted its stake in shares of Wingstop by 1.7% in the 4th quarter. Kovack Advisors Inc. now owns 2,319 shares of the restaurant operator’s stock worth $595,000 after buying an additional 39 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Wingstop by 53.3% in the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 40 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in Wingstop by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 13,150 shares of the restaurant operator’s stock valued at $2,365,000 after acquiring an additional 60 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.