Wingstop (NASDAQ:WING) Price Target Raised to $390.00

Wingstop (NASDAQ:WING - Get Free Report) had its target price increased by analysts at The Goldman Sachs Group from $310.00 to $390.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the restaurant operator's stock. The Goldman Sachs Group's target price would suggest a potential upside of 4.94% from the stock's previous close.

A number of other equities research analysts also recently issued reports on WING. Wells Fargo & Company boosted their price target on Wingstop from $320.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Truist Financial upgraded Wingstop from a "hold" rating to a "buy" rating and boosted their price target for the company from $274.00 to $400.00 in a research note on Tuesday, May 27th. Bank of America boosted their price target on Wingstop from $319.00 to $360.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. BTIG Research restated a "buy" rating on shares of Wingstop in a research note on Tuesday, March 25th. Finally, UBS Group cut their price target on Wingstop from $300.00 to $255.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $348.35.

Wingstop Trading Up 1.7%

NASDAQ:WING traded up $6.05 during mid-day trading on Wednesday, reaching $371.65. The company's stock had a trading volume of 754,746 shares, compared to its average volume of 627,974. Wingstop has a 12-month low of $204.00 and a 12-month high of $433.86. The firm's fifty day moving average price is $272.55 and its two-hundred day moving average price is $276.85. The stock has a market cap of $10.37 billion, a P/E ratio of 100.18, a PEG ratio of 2.27 and a beta of 1.80.

Wingstop (NASDAQ:WING - Get Free Report) last issued its earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.15. Wingstop had a negative return on equity of 21.59% and a net margin of 17.37%. The business had revenue of $171.09 million during the quarter, compared to analyst estimates of $172.25 million. During the same quarter in the previous year, the firm earned $0.98 EPS. Wingstop's revenue was up 17.4% on a year-over-year basis. Analysts predict that Wingstop will post 4.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Wingstop

Several hedge funds have recently modified their holdings of the company. Strs Ohio purchased a new stake in shares of Wingstop during the 1st quarter worth approximately $11,279,000. Geneos Wealth Management Inc. raised its holdings in shares of Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator's stock worth $49,000 after acquiring an additional 119 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Wingstop by 5.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,439 shares of the restaurant operator's stock worth $20,852,000 after acquiring an additional 4,937 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Wingstop during the 1st quarter worth approximately $429,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Wingstop by 2,770.6% during the 1st quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator's stock worth $440,000 after acquiring an additional 1,884 shares in the last quarter.

About Wingstop

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.