BTIG Research Reiterates Buy Rating for Wingstop (NASDAQ:WING)

Key Points

• BTIG Research reaffirmed its Buy rating on Wingstop and set a $305 price target, implying nearly 99% upside from the prior close.
• Other analysts remain largely bullish, with Wingstop carrying a consensus rating of Moderate Buy and an average price target of $261.19, though several firms recently trimmed their targets.
• Wingstop recently reported better-than-expected earnings per share of $1.18, but revenue of $183.72 million came in slightly below estimates even as sales rose 7.4% year over year.

Wingstop (NASDAQ:WING - Get Free Report)'s stock had its "buy" rating reissued by BTIG Research in a research note issued to investors on Monday,Benzinga reports. They currently have a $305.00 target price on the restaurant operator's stock. BTIG Research's target price indicates a potential upside of 98.97% from the stock's previous close.

A number of other research analysts have also weighed in on WING. Raymond James Financial raised Wingstop from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the company from $325.00 to $240.00 in a research report on Thursday, April 2nd. Wells Fargo & Company cut their target price on Wingstop from $225.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Piper Sandler upgraded shares of Wingstop from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $283.00 to $190.00 in a research note on Thursday, April 2nd. TD Cowen reiterated a "hold" rating and set a $160.00 target price on shares of Wingstop in a research note on Thursday. Finally, Barclays cut their price objective on Wingstop from $330.00 to $235.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $261.19.

Wingstop Price Performance

WING stock opened at $153.29 on Monday. The firm has a 50-day moving average of $150.24 and a 200 day moving average of $199.94. The company has a market cap of $4.17 billion, a P/E ratio of 38.13, a PEG ratio of 1.84 and a beta of 1.79. Wingstop has a 1 year low of $116.35 and a 1 year high of $381.45.

Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.16. Wingstop had a negative return on equity of 16.22% and a net margin of 15.77%.The company had revenue of $183.72 million for the quarter, compared to analyst estimates of $187.82 million. During the same period in the previous year, the company posted $0.99 earnings per share. The firm's revenue was up 7.4% on a year-over-year basis. On average, equities research analysts expect that Wingstop will post 4.57 earnings per share for the current fiscal year.

Institutional Trading of Wingstop

Several hedge funds have recently bought and sold shares of WING. SBI Securities Co. Ltd. boosted its stake in Wingstop by 76.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator's stock worth $33,000 after buying an additional 60 shares during the period. Rakuten Securities Inc. boosted its stake in shares of Wingstop by 197.9% during the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator's stock worth $34,000 after purchasing an additional 95 shares during the period. GW&K Investment Management LLC boosted its stake in shares of Wingstop by 75.7% during the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator's stock worth $45,000 after purchasing an additional 81 shares during the period. Geneos Wealth Management Inc. grew its holdings in Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator's stock valued at $49,000 after purchasing an additional 119 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Wingstop in the 4th quarter worth about $63,000.

About Wingstop

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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