Wingstop (NASDAQ:WING) Price Target Lowered to $420.00 at Bank of America

Wingstop (NASDAQ:WING - Get Free Report) had its price target reduced by Bank of America from $430.00 to $420.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the restaurant operator's stock. Bank of America's price target indicates a potential upside of 30.21% from the stock's current price.

WING has been the topic of a number of other reports. Melius started coverage on Wingstop in a report on Monday. They issued a "hold" rating and a $350.00 price objective on the stock. UBS Group decreased their price objective on Wingstop from $300.00 to $255.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. TD Securities reiterated a "buy" rating and issued a $440.00 price objective on shares of Wingstop in a report on Tuesday, June 17th. William Blair started coverage on Wingstop in a report on Wednesday, July 9th. They issued an "outperform" rating on the stock. Finally, Sanford C. Bernstein reissued an "overweight" rating and issued a $360.00 target price on shares of Wingstop in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Wingstop has a consensus rating of "Moderate Buy" and a consensus price target of $355.80.

Wingstop Price Performance

WING stock traded down $5.92 during trading on Friday, hitting $322.54. The stock had a trading volume of 21,594 shares, compared to its average volume of 655,593. Wingstop has a twelve month low of $204.00 and a twelve month high of $433.86. The stock has a market capitalization of $9.00 billion, a P/E ratio of 54.20, a PEG ratio of 4.56 and a beta of 1.84. The company's 50-day moving average price is $336.94 and its two-hundred day moving average price is $282.66.

Wingstop (NASDAQ:WING - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share (EPS) 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 company had revenue of $171.09 million for the quarter, compared to analysts' expectations of $172.25 million. During the same period in the previous year, the firm posted $0.98 EPS. Wingstop's revenue was up 17.4% compared to the same quarter last year. As a group, sell-side analysts expect that Wingstop will post 4.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Wingstop news, CEO Michael Skipworth sold 10,000 shares of Wingstop stock in a transaction 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 transaction, the chief executive officer owned 47,190 shares in the company, valued at $15,919,074.60. This trade represents a 17.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Raj Kapoor sold 637 shares of Wingstop stock in a transaction on Monday, May 5th. The shares were sold at an average price of $273.07, for a total transaction of $173,945.59. Following the transaction, the senior vice president owned 517 shares in the company, valued at $141,177.19. The trade was a 55.20% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wingstop

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WING. EverSource Wealth Advisors LLC increased its stake in Wingstop by 521.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator's stock worth $25,000 after buying an additional 73 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Wingstop by 93.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 62 shares during the last quarter. Signaturefd LLC increased its position in shares of Wingstop by 106.9% in the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator's stock worth $34,000 after purchasing an additional 77 shares during the last quarter. True Wealth Design LLC increased its position in shares of Wingstop by 62.1% in the 4th quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator's stock worth $40,000 after purchasing an additional 54 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Wingstop in the 4th quarter worth about $41,000.

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.

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