Truist Financial Issues Pessimistic Forecast for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING - Free Report) had its price target decreased by Truist Financial from $265.00 to $242.00 in a report published on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the restaurant operator's stock.

Several other brokerages also recently issued reports on WING. Raymond James restated an "outperform" rating and issued a $330.00 price objective (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Guggenheim upgraded shares of Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 price target on the stock in a research report on Monday, February 24th. Benchmark dropped their price objective on shares of Wingstop from $340.00 to $325.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. BTIG Research reiterated a "buy" rating on shares of Wingstop in a research note on Tuesday, March 25th. Finally, BMO Capital Markets decreased their target price on Wingstop from $335.00 to $300.00 and set a "market perform" rating on the stock in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $334.13.

Wingstop Trading Up 4.5 %

NASDAQ:WING traded up $9.71 during mid-day trading on Tuesday, hitting $227.30. 679,660 shares of the company's stock traded hands, compared to its average volume of 582,783. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 61.27, a price-to-earnings-growth ratio of 2.27 and a beta of 2.02. The firm has a 50 day moving average of $226.11 and a two-hundred day moving average of $284.91. Wingstop has a 12 month low of $204.00 and a 12 month high of $433.86.

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.48%. The ex-dividend date was Friday, March 7th. Wingstop's dividend payout ratio (DPR) is presently 29.11%.

Institutional Investors Weigh In On Wingstop

Institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. increased its position in Wingstop by 1.9% in the fourth quarter. American Century Companies Inc. now owns 1,206,062 shares of the restaurant operator's stock worth $342,763,000 after purchasing an additional 22,552 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Wingstop by 29.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,150,217 shares of the restaurant operator's stock worth $326,893,000 after buying an additional 262,229 shares during the period. Franklin Resources Inc. grew its position in shares of Wingstop by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator's stock worth $326,020,000 after buying an additional 7,204 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Wingstop by 23.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 801,732 shares of the restaurant operator's stock worth $227,852,000 after buying an additional 154,055 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Wingstop by 21.4% in the fourth quarter. Alliancebernstein L.P. now owns 573,999 shares of the restaurant operator's stock valued at $163,131,000 after buying an additional 101,247 shares during the period.

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.