Wingstop (NASDAQ:WING) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Wingstop shares rose 3.7% and moved above their 200-day moving average of $162.93, reaching an intraday high of $175 before last trading at $167.62.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $219.56; recent targets range from $173 to $265.
• Quarterly EPS of $1.08 beat estimates of $1.02, while revenue of $185.13 million came in below forecasts of $192.89 million; revenue was up 5.4% year over year.

Wingstop Inc. (NASDAQ:WING - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $162.93 and traded as high as $175.00. Wingstop shares last traded at $167.62, with a volume of 1,529,047 shares.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WING shares. Mizuho cut their price target on shares of Wingstop from $240.00 to $200.00 and set an "outperform" rating on the stock in a report on Friday, October 23rd. BTIG Research reiterated a "buy" rating and issued a $265.00 target price on shares of Wingstop in a research note on Thursday, October 29th. Piper Sandler set a $173.00 target price on Wingstop in a report on Wednesday, July 29th. Stephens restated an "overweight" rating and set a $200.00 target price on shares of Wingstop in a research report on Thursday, October 29th. Finally, DA Davidson reiterated a "buy" rating and issued a $180.00 price objective on shares of Wingstop in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $219.56.

Wingstop Stock Up 3.7%

The business has a fifty day moving average of $118.02 and a 200 day moving average of $162.93. The company has a market cap of $4.53 billion, a P/E ratio of 39.35, a P/E/G ratio of 2.14 and a beta of 1.77.

Wingstop (NASDAQ:WING - Get Free Report) last posted its earnings results on Wednesday, October 28th. The restaurant operator reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.06. The firm had revenue of $185.13 million for the quarter, compared to the consensus estimate of $192.89 million. Wingstop had a negative return on equity of 15.80% and a net margin of 16.03%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 EPS. On average, sell-side analysts anticipate that Wingstop Inc. will post 4.19 EPS for the current fiscal year.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Wingstop's dividend payout ratio is 30.99%.

Insider Buying and Selling at Wingstop

In other Wingstop news, Director Wesley Mcdonald sold 1,520 shares of Wingstop stock in a transaction on Friday, October 30th. The stock was sold at an average price of $145.11, for a total value of $220,567.20. Following the completion of the sale, the director owned 3,986 shares of the company's stock, valued at approximately $578,408.46. This trade represents a 27.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Raj Kapoor sold 2,500 shares of the business's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $163.61, for a total value of $409,025.00. Following the completion of the transaction, the chief operating officer directly owned 1,659 shares of the company's stock, valued at approximately $271,428.99. This trade represents a 60.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.53% of the company's stock.

Institutional Trading of Wingstop

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Wingstop in the second quarter valued at about $481,314,000. Jupiter Topco LLC purchased a new stake in Wingstop in the second quarter valued at $147,440,000. Bank of New York Mellon Corp purchased a new position in Wingstop during the second quarter valued at approximately $80,456,000. Bamco Inc. NY purchased a new position in Wingstop during the second quarter valued at approximately $74,595,000. Finally, Wellington Management Group LLP lifted its holdings in Wingstop by 681.6% in the second quarter. Wellington Management Group LLP now owns 374,483 shares of the restaurant operator's stock valued at $64,939,000 after acquiring an additional 326,568 shares during the period.

About Wingstop

Wingstop Inc is a franchised restaurant company specializing in cooked-to-order chicken wings and related menu items. Its offerings include classic and boneless wings prepared with a range of flavors, along with chicken sandwiches, tenders, fries, seasoned fries, dips, sides and beverages. The company emphasizes made-to-order food, a digital ordering experience and a menu centered on customizable chicken meals.

Founded in 1994 in Garland, Texas, Wingstop has expanded from a single restaurant into a global brand operated primarily through franchised locations.

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