Morgan Stanley Increases Wingstop (NASDAQ:WING) Price Target to $367.00

Wingstop (NASDAQ:WING - Get Free Report) had its price target lifted by research analysts at Morgan Stanley from $350.00 to $367.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the restaurant operator's stock. Morgan Stanley's price objective would indicate a potential upside of 15.31% from the company's current price.

Several other analysts also recently weighed in on WING. Gordon Haskett upgraded Wingstop to a "strong-buy" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group raised their price target on shares of Wingstop from $310.00 to $390.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Bank of America boosted their price objective on shares of Wingstop from $360.00 to $430.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. BTIG Research upped their target price on shares of Wingstop from $350.00 to $430.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Finally, Citigroup downgraded shares of Wingstop from a "neutral" rating to a "cautious" rating in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Wingstop currently has an average rating of "Moderate Buy" and an average price target of $358.16.

Wingstop Stock Down 3.0%

Wingstop stock traded down $9.94 during midday trading on Monday, reaching $318.27. The stock had a trading volume of 736,578 shares, compared to its average volume of 822,380. The firm has a market cap of $8.88 billion, a price-to-earnings ratio of 53.31, a price-to-earnings-growth ratio of 4.59 and a beta of 1.84. Wingstop has a 52-week low of $204.00 and a 52-week high of $433.86. The company has a fifty day moving average of $332.77 and a 200 day moving average of $281.59.

Wingstop (NASDAQ:WING - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.15. Wingstop had a negative return on equity of 18.85% and a net margin of 26.45%. The firm had revenue of $171.09 million for the quarter, compared to the consensus estimate of $172.25 million. During the same period in the prior year, the business posted $0.98 earnings per share. The company's revenue for the quarter was up 17.4% on a year-over-year basis. Equities research analysts predict that Wingstop will post 4.18 EPS for the current year.

Insider Activity at Wingstop

In other news, CEO Michael Skipworth sold 10,000 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total transaction of $3,373,400.00. Following the transaction, the chief executive officer directly owned 47,190 shares of the company's stock, valued at approximately $15,919,074.60. This represents a 17.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Raj Kapoor sold 637 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $273.07, for a total value of $173,945.59. Following the completion of the sale, the senior vice president directly owned 517 shares of the company's stock, valued at $141,177.19. The trade was a 55.20% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wingstop

Several hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Wingstop by 15.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,630 shares of the restaurant operator's stock valued at $2,168,000 after purchasing an additional 1,027 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings 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 valued at $25,000 after buying an additional 73 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Wingstop by 49.8% in the 4th quarter. Farther Finance Advisors LLC now owns 406 shares of the restaurant operator's stock valued at $115,000 after acquiring an additional 135 shares during the period. Avantax Advisory Services Inc. raised its stake in Wingstop by 7.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,227 shares of the restaurant operator's stock worth $633,000 after acquiring an additional 155 shares during the last quarter. Finally, Swiss National Bank raised its stake in Wingstop by 0.5% in the 4th quarter. Swiss National Bank now owns 57,600 shares of the restaurant operator's stock worth $16,370,000 after acquiring an additional 300 shares during 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.