Wells Fargo & Company Forecasts Strong Price Appreciation for Wingstop (NASDAQ:WING) Stock

Wingstop (NASDAQ:WING - Get Free Report) had its price objective lifted by equities research analysts at Wells Fargo & Company from $320.00 to $375.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the restaurant operator's stock. Wells Fargo & Company's target price indicates a potential upside of 9.66% from the stock's current price.

Several other equities analysts have also commented on WING. Piper Sandler upped their price target on Wingstop from $271.00 to $272.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Robert W. Baird upped their price target on Wingstop from $350.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Barclays decreased their price target on Wingstop from $315.00 to $260.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus decreased their price target on Wingstop from $375.00 to $350.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, The Goldman Sachs Group upped their price target on Wingstop from $280.00 to $310.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Wingstop presently has an average rating of "Moderate Buy" and a consensus target price of $341.83.

Wingstop Trading Up 0.4%

NASDAQ WING traded up $1.40 on Friday, reaching $341.96. 621,236 shares of the company were exchanged, compared to its average volume of 627,135. The business's fifty day moving average price is $261.88 and its 200 day moving average price is $275.58. The stock has a market capitalization of $9.54 billion, a P/E ratio of 92.17, a price-to-earnings-growth ratio of 2.27 and a beta of 1.80. Wingstop has a fifty-two week low of $204.00 and a fifty-two week high of $433.86.

Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $171.09 million for the quarter, compared to analyst estimates of $172.25 million. Wingstop had a negative return on equity of 21.59% and a net margin of 17.37%. The firm's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. Equities research analysts forecast that Wingstop will post 4.18 earnings per share for the current year.

Insiders Place Their Bets

In other Wingstop news, CEO Michael Skipworth sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total transaction 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 approximately $15,919,074.60. This trade represents a 17.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Raj Kapoor sold 637 shares of the 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 of the company's stock, valued at $141,177.19. The trade was 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 owned by insiders.

Institutional Trading of Wingstop

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

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.