Wingstop (NASDAQ:WING) Upgraded by Jefferies Financial Group to Buy Rating

Wingstop (NASDAQ:WING) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Monday, MarketBeat.com reports. The firm currently has a $270.00 price target on the restaurant operator’s stock. Jefferies Financial Group’s price objective points to a potential upside of 14.21% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Morgan Stanley decreased their target price on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Wingstop in a report on Wednesday, February 19th. Raymond James reissued an “outperform” rating and set a $330.00 target price (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Stifel Nicolaus reduced their target price on Wingstop from $375.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Northcoast Research cut Wingstop from a “buy” rating to a “neutral” rating in a report on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.73.

Wingstop Stock Up 4.8 %

NASDAQ WING opened at $236.40 on Monday. Wingstop has a 52 week low of $205.60 and a 52 week high of $433.86. The business’s fifty day simple moving average is $255.62 and its 200-day simple moving average is $309.67. The firm has a market cap of $6.60 billion, a PE ratio of 63.72, a P/E/G ratio of 2.27 and a beta of 1.88.

Wingstop announced that its Board of Directors has authorized a stock buyback program on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to buy up to 5.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Wingstop

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its stake in shares of Wingstop by 521.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock worth $25,000 after buying an additional 73 shares during the period. CBIZ Investment Advisory Services LLC grew its holdings 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 in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Wingstop by 93.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 62 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Wingstop during the 4th quarter worth about $30,000. Finally, True Wealth Design LLC purchased a new stake in shares of Wingstop during the 3rd quarter worth approximately $36,000.

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.