Wingstop (NASDAQ:WING) Given New $430.00 Price Target at Bank of America

Wingstop (NASDAQ:WING - Free Report) had its price objective increased by Bank of America from $360.00 to $430.00 in a research note published on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the restaurant operator's stock.

A number of other equities analysts have also recently issued reports on WING. TD Securities reiterated a "buy" rating and set a $440.00 price objective on shares of Wingstop in a research report on Tuesday, June 17th. BTIG Research boosted 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. Gordon Haskett upgraded shares of Wingstop to a "strong-buy" rating in a report on Wednesday, April 30th. Stifel Nicolaus cut their price objective on Wingstop from $375.00 to $350.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, Guggenheim boosted their price objective on Wingstop from $280.00 to $325.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $355.74.

Wingstop Stock Down 2.2%

Shares of WING stock traded down $8.02 during trading hours on Wednesday, reaching $356.09. The company's stock had a trading volume of 718,998 shares, compared to its average volume of 644,832. Wingstop has a fifty-two week low of $204.00 and a fifty-two week high of $433.86. The firm's 50 day simple moving average is $305.69 and its 200-day simple moving average is $278.90. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 59.65, a PEG ratio of 5.04 and a beta of 1.88.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $171.09 million during the quarter, compared to the consensus estimate of $172.25 million. During the same period in the prior year, the company earned $0.98 EPS. Wingstop's revenue for the quarter was up 17.4% on a year-over-year basis. Sell-side analysts predict that Wingstop will post 4.18 earnings per share for the current year.

Wingstop Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were issued a $0.27 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.08 dividend on an annualized basis and a yield of 0.30%. Wingstop's payout ratio is currently 18.09%.

Insider Buying and Selling at Wingstop

In related news, SVP Raj Kapoor sold 637 shares of the business's stock in a transaction dated 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 now directly owns 517 shares of the company's stock, valued at $141,177.19. The trade was a 55.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Skipworth sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $337.34, for a total value of $3,373,400.00. Following the completion of the sale, the chief executive officer now directly owns 47,190 shares of the company's stock, valued at $15,919,074.60. This trade represents a 17.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Institutional Trading of Wingstop

Several hedge funds have recently bought and sold shares of the business. IFP Advisors Inc lifted its stake in shares of Wingstop by 8.8% in the fourth quarter. IFP Advisors Inc now owns 917 shares of the restaurant operator's stock valued at $261,000 after buying an additional 74 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Wingstop by 475.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator's stock valued at $19,676,000 after acquiring an additional 57,193 shares in the last quarter. Advisor OS LLC acquired a new position in Wingstop during the 4th quarter valued at about $273,000. Oppenheimer Asset Management Inc. increased its holdings in Wingstop by 9.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 4,250 shares of the restaurant operator's stock worth $1,208,000 after purchasing an additional 359 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Wingstop during the 4th quarter worth approximately $10,177,000.

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.