Wingstop (NASDAQ:WING) Price Target Raised to $405.00

Key Points

• The price target for Wingstop (NASDAQ: WING) has been raised by Morgan Stanley from $367.00 to $405.00, indicating a potential upside of 9.18% from its previous closing price.
• Multiple analysts have bullish sentiments on Wingstop, with Barclays setting a target of $410.00 and TD Securities targeting $440.00, reflecting a consensus rating of "Moderate Buy."
• In its latest earnings report, Wingstop beat expectations with $1.00 EPS on revenue of $174.33 million, showcasing a 12% year-over-year growth in revenue.

Wingstop (NASDAQ:WING - Get Free Report) had its price objective increased by Morgan Stanley from $367.00 to $405.00 in a report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has an "overweight" rating on the restaurant operator's stock. Morgan Stanley's price objective points to a potential upside of 11.74% from the stock's current price.

A number of other research analysts have also weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Wingstop from $310.00 to $390.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Stephens lifted their price objective on shares of Wingstop from $400.00 to $425.00 and gave the company an "overweight" rating in a research note on Thursday. Westpark Capital raised shares of Wingstop to a "strong-buy" rating in a report on Wednesday, July 9th. BMO Capital Markets raised their price target on shares of Wingstop from $275.00 to $345.00 and gave the company a "market perform" rating in a report on Thursday. Finally, Wolfe Research began coverage on shares of Wingstop in a report on Wednesday, July 9th. They issued an "outperform" rating and a $280.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $379.52.

Wingstop Trading Down 3.9%

Shares of WING stock traded down $14.89 during trading hours on Thursday, hitting $362.45. 1,199,950 shares of the company were exchanged, compared to its average volume of 770,947. The firm has a fifty day simple moving average of $340.50 and a 200 day simple moving average of $285.90. Wingstop has a 52-week low of $204.00 and a 52-week high of $433.86. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 60.41, a P/E/G ratio of 5.05 and a beta of 1.84.

Wingstop (NASDAQ:WING - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $172.60 million. During the same quarter last year, the business posted $0.93 EPS. Wingstop's quarterly revenue was up 12.0% compared to the same quarter last year. Sell-side analysts anticipate that Wingstop will post 4.18 EPS for the current year.

Insider Activity

In other Wingstop news, CFO Alex Kaleida sold 5,400 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $376.09, for a total value of $2,030,886.00. Following the transaction, the chief financial officer owned 8,362 shares in the company, valued at approximately $3,144,864.58. The trade was a 39.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marisa Carona sold 11,938 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $370.34, for a total transaction of $4,421,118.92. The disclosure for this sale can be found here. Insiders have sold a total of 32,475 shares of company stock worth $11,665,881 over the last ninety days. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Wingstop

Several hedge funds and other institutional investors have recently modified their holdings of WING. T. Rowe Price Investment Management Inc. purchased a new stake in Wingstop in the first quarter worth about $212,672,000. Alyeska Investment Group L.P. purchased a new stake in Wingstop in the fourth quarter worth about $151,802,000. Price T Rowe Associates Inc. MD grew its holdings in Wingstop by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator's stock worth $371,517,000 after purchasing an additional 496,717 shares during the period. Champlain Investment Partners LLC grew its holdings in Wingstop by 130.7% in the first quarter. Champlain Investment Partners LLC now owns 631,989 shares of the restaurant operator's stock worth $142,564,000 after purchasing an additional 358,044 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Wingstop by 760.9% in the fourth quarter. Ameriprise Financial Inc. now owns 381,745 shares of the restaurant operator's stock worth $108,497,000 after purchasing an additional 337,401 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.