Wingstop (NASDAQ:WING) Rating Increased to Buy at Benchmark

Benchmark upgraded shares of Wingstop (NASDAQ:WING) from a hold rating to a buy rating in a research report released on Thursday, Marketbeat reports. Benchmark currently has $340.00 price target on the restaurant operator’s stock.

Several other research firms have also recently issued reports on WING. Barclays upped their price objective on Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group increased their price objective on Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. TD Cowen reissued a “buy” rating and issued a $450.00 target price on shares of Wingstop in a research report on Wednesday, July 31st. Stephens reaffirmed an “overweight” rating and set a $490.00 price target on shares of Wingstop in a report on Thursday, October 24th. Finally, BMO Capital Markets boosted their price objective on shares of Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Wingstop currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.58.

Wingstop Trading Up 3.2 %

Wingstop stock opened at $296.94 on Thursday. Wingstop has a 12 month low of $196.54 and a 12 month high of $433.86. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 86.57, a price-to-earnings-growth ratio of 2.74 and a beta of 1.76. The business’s fifty day simple moving average is $388.10 and its two-hundred day simple moving average is $387.14.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.09). The firm had revenue of $162.50 million for the quarter, compared to analysts’ expectations of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The business’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. On average, equities research analysts predict that Wingstop will post 3.79 EPS for the current year.

Wingstop Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, November 15th. This represents a $1.08 annualized dividend and a yield of 0.36%. Wingstop’s dividend payout ratio (DPR) is presently 31.49%.

Insider Buying and Selling at Wingstop

In other news, SVP Donnie Upshaw sold 3,199 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $372.71, for a total value of $1,192,299.29. Following the transaction, the senior vice president now owns 97 shares of the company’s stock, valued at $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 is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wingstop

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of Wingstop in the second quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Wingstop during the 2nd quarter valued at $34,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after buying an additional 35 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after buying an additional 40 shares during the period. Finally, Blue Trust Inc. increased its stake in Wingstop by 384.6% in the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after buying an additional 100 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.