Wingstop (NASDAQ:WING) Given New $410.00 Price Target at Benchmark

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Wingstop (NASDAQ:WING - Free Report) had its price objective raised by Benchmark from $325.00 to $410.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the restaurant operator's stock.

Other equities analysts have also issued reports about the company. Stephens increased their price objective on Wingstop from $400.00 to $425.00 and gave the company an "overweight" rating in a research report on Thursday. TD Securities reiterated a "buy" rating and issued a $440.00 price objective on shares of Wingstop in a report on Tuesday, June 17th. Guggenheim raised their target price on Wingstop from $280.00 to $325.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Melius started coverage on Wingstop in a research report on Monday, July 14th. They set a "hold" rating and a $350.00 price objective for the company. Finally, Wolfe Research started coverage on Wingstop in a research report on Wednesday, July 9th. They set an "outperform" rating and a $280.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $379.52.

Wingstop Stock Down 3.9%

WING traded down $14.89 during trading on Thursday, reaching $362.45. 1,199,950 shares of the company were exchanged, compared to its average volume of 770,947. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 60.41, a P/E/G ratio of 5.05 and a beta of 1.84. The company's 50-day moving average is $340.50 and its two-hundred day moving average is $285.90. Wingstop has a 12-month low of $204.00 and a 12-month high of $433.86.

Wingstop (NASDAQ:WING - Get Free Report) last announced its earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.12. The business had revenue of $174.33 million for the quarter, compared to analyst estimates of $172.60 million. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS. Equities analysts forecast that Wingstop will post 4.18 earnings per share for the current year.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, August 15th. This is an increase from Wingstop's previous quarterly dividend of $0.27. Wingstop's dividend payout ratio (DPR) is 18.09%.

Insider Buying and Selling

In other Wingstop news, CFO Alex Kaleida sold 5,400 shares of Wingstop stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $376.09, for a total transaction of $2,030,886.00. Following the completion of the transaction, the chief financial officer owned 8,362 shares in the company, valued at approximately $3,144,864.58. This trade represents a 39.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Marisa Carona sold 11,938 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $4,421,118.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,475 shares of company stock worth $11,665,881. Corporate insiders own 0.72% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Wingstop by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator's stock worth $371,517,000 after purchasing an additional 496,717 shares during the last quarter. American Century Companies Inc. raised its position in shares of Wingstop by 4.7% during the 1st quarter. American Century Companies Inc. now owns 1,262,597 shares of the restaurant operator's stock valued at $284,817,000 after buying an additional 56,535 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Wingstop during the 1st quarter valued at approximately $212,672,000. Massachusetts Financial Services Co. MA raised its position in shares of Wingstop by 23.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 801,732 shares of the restaurant operator's stock valued at $227,852,000 after buying an additional 154,055 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in shares of Wingstop by 29.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 693,115 shares of the restaurant operator's stock valued at $156,353,000 after buying an additional 158,977 shares during the period.

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.