Benchmark Lowers Wingstop (NASDAQ:WING) Price Target to $285.00

Key Points

• Benchmark cut its price target on Wingstop to $285 (from $320) while maintaining a "buy" rating, implying roughly a 45% upside from the stock's prior close.
• The stock has a consensus rating of "Moderate Buy" with an average analyst price target of $310.55, though individual targets range widely (about $190 to $400) and most analysts rate it as Buy or Strong Buy.
• Shares trade around $196.34 (market cap ~$5.36B); Wingstop beat quarterly EPS estimates ($1.00 vs. $0.84) while revenue slightly missed but was up 8.6% YoY, and company insiders have recently sold shares leaving insider ownership at about 0.53%.

Wingstop (NASDAQ:WING - Get Free Report) had its price target reduced by research analysts at Benchmark from $320.00 to $285.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the restaurant operator's stock. Benchmark's price objective would indicate a potential upside of 45.16% from the company's previous close.

Several other analysts have also commented on the company. BTIG Research reiterated a "buy" rating and set a $400.00 price objective on shares of Wingstop in a report on Thursday, February 19th. Wolfe Research initiated coverage on Wingstop in a report on Monday, March 9th. They set an "outperform" rating and a $320.00 price objective for the company. Stifel Nicolaus decreased their price objective on Wingstop from $325.00 to $250.00 and set a "buy" rating for the company in a report on Thursday, March 26th. Piper Sandler upgraded Wingstop from a "neutral" rating to an "overweight" rating and decreased their price objective for the company from $283.00 to $190.00 in a report on Thursday, April 2nd. Finally, Stephens reiterated an "overweight" rating and set a $375.00 price objective on shares of Wingstop in a report on Thursday, February 19th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $310.55.

Wingstop Stock Performance

WING opened at $196.34 on Monday. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 2.21 and a beta of 2.03. The stock's 50 day moving average price is $207.90 and its 200-day moving average price is $237.79. Wingstop has a one year low of $142.24 and a one year high of $388.14.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.16. The firm had revenue of $175.69 million during the quarter, compared to analyst estimates of $177.74 million. Wingstop had a negative return on equity of 16.12% and a net margin of 25.01%.Wingstop's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. As a group, analysts predict that Wingstop will post 4.18 earnings per share for the current fiscal year.

Insider Activity

In other Wingstop news, Director Wesley S. Mcdonald sold 566 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $250.00, for a total transaction of $141,500.00. Following the sale, the director directly owned 4,375 shares of the company's stock, valued at approximately $1,093,750. This trade represents a 11.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kilandigalu Madati sold 2,700 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $260.73, for a total value of $703,971.00. Following the sale, the director owned 2,583 shares in the company, valued at $673,465.59. This trade represents a 51.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wingstop

A number of institutional investors have recently modified their holdings of WING. Lone Pine Capital LLC purchased a new position in Wingstop in the 3rd quarter valued at about $375,317,000. Steadfast Capital Management LP lifted its stake in Wingstop by 296.2% in the 3rd quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator's stock valued at $239,227,000 after buying an additional 710,621 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Wingstop by 48.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,405,894 shares of the restaurant operator's stock valued at $335,292,000 after buying an additional 456,861 shares in the last quarter. Capital World Investors lifted its stake in Wingstop by 160.6% in the 3rd quarter. Capital World Investors now owns 740,896 shares of the restaurant operator's stock valued at $186,469,000 after buying an additional 456,637 shares in the last quarter. Finally, Atreides Management LP purchased a new position in Wingstop in the 4th quarter valued at about $93,012,000.

Wingstop Company Profile

Wingstop Inc NASDAQ: WING is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company's core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.

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