Wingstop (NASDAQ:WING) Price Target Cut to $370.00 by Analysts at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has reduced Wingstop's price target from $430.00 to $370.00, maintaining a "buy" rating, indicating a potential upside of 46.45% from current prices.
• The company reported a 12.0% year-over-year increase in revenue, totaling $174.33 million for the quarter, surpassing analysts' expectations.
• Recently, several analysts adjusted their price targets for Wingstop, with Bank of America lowering its target to $420.00 and Barclays raising it to $440.00.

Wingstop (NASDAQ:WING - Get Free Report) had its price target decreased by equities researchers at The Goldman Sachs Group from $430.00 to $370.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the restaurant operator's stock. The Goldman Sachs Group's price target indicates a potential upside of 46.45% from the company's current price.

Several other equities analysts have also recently commented on the company. Bank of America decreased their price target on shares of Wingstop from $430.00 to $420.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Piper Sandler began coverage on Wingstop in a report on Wednesday, July 9th. They issued an "overweight" rating on the stock. 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 report on Wednesday, June 11th. Barclays raised their price target on Wingstop from $410.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, TD Securities reissued a "buy" rating and issued a $440.00 target price on shares of Wingstop in a research note on Tuesday, June 17th. Four analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $376.92.

Wingstop Price Performance

Shares of NASDAQ:WING traded up $0.81 during midday trading on Tuesday, reaching $252.65. 341,169 shares of the company's stock were exchanged, compared to its average volume of 828,397. Wingstop has a fifty-two week low of $204.00 and a fifty-two week high of $425.00. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 42.04, a P/E/G ratio of 3.11 and a beta of 1.87. The firm's 50 day simple moving average is $307.70 and its two-hundred day simple moving average is $296.55.

Wingstop (NASDAQ:WING - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.12. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. The company had revenue of $174.33 million for the quarter, compared to the consensus estimate of $172.60 million. During the same period last year, the firm posted $0.93 EPS. Wingstop's revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts predict that Wingstop will post 4.18 earnings per share for the current fiscal year.

Insider Activity at Wingstop

In other Wingstop news, SVP Marisa Carona sold 11,938 shares of Wingstop stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $4,421,118.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alex Kaleida sold 5,400 shares of Wingstop stock in a transaction on Friday, August 1st. The stock was sold at an average price of $376.09, for a total transaction of $2,030,886.00. Following the transaction, the chief financial officer owned 8,362 shares in the company, valued at $3,144,864.58. This represents a 39.24% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,838 shares of company stock valued at $8,118,535. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Quaker Wealth Management LLC lifted its position in Wingstop by 134.2% during the second quarter. Quaker Wealth Management LLC now owns 104 shares of the restaurant operator's stock valued at $35,000 after acquiring an additional 408 shares during the last quarter. Ameriflex Group Inc. purchased a new position in Wingstop in the second quarter valued at $43,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Wingstop by 93.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator's stock valued at $29,000 after buying an additional 62 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Wingstop by 4,200.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 129 shares of the restaurant operator's stock valued at $43,000 after purchasing an additional 126 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Wingstop by 106.9% during the first quarter. Signaturefd LLC now owns 149 shares of the restaurant operator's stock worth $34,000 after buying an additional 77 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.