Raymond James Financial Raises Wingstop (NASDAQ:WING) Price Target to $420.00

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Wingstop (NASDAQ:WING - Free Report) had its price target increased by Raymond James Financial from $400.00 to $420.00 in a research report sent to investors on Thursday morning,Benzinga reports. Raymond James Financial currently has an outperform rating on the restaurant operator's stock.

A number of other analysts also recently weighed in on WING. Robert W. Baird lifted 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. Citigroup lifted their price target on Wingstop from $296.00 to $321.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. BTIG Research lifted their price objective on Wingstop from $350.00 to $430.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Cowen reaffirmed a "buy" rating on shares of Wingstop in a report on Thursday, May 1st. Finally, Stephens lifted their price objective on Wingstop from $400.00 to $425.00 and gave the stock an "overweight" rating in a report on Thursday. One equities research 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $379.52.

Wingstop Stock Down 3.9%

Shares of Wingstop stock traded down $14.89 during trading on Thursday, reaching $362.45. The company's stock had a trading volume of 1,199,950 shares, compared to its average volume of 770,947. Wingstop has a 12-month low of $204.00 and a 12-month high of $433.86. The company has a market capitalization of $10.11 billion, a P/E ratio of 60.41, a price-to-earnings-growth ratio of 5.05 and a beta of 1.84. The business has a 50 day moving average price of $340.50 and a 200-day moving average price of $285.90.

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

Wingstop Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.30 dividend. The ex-dividend date is Friday, August 15th. This is an increase from Wingstop's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 0.3%. Wingstop's payout ratio is currently 18.09%.

Insiders Place Their Bets

In related news, SVP Raj Kapoor sold 637 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president directly owned 517 shares in the company, valued at approximately $141,177.19. This represents a 55.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alex Kaleida sold 5,400 shares of the company's stock in a transaction on 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 completion of the transaction, the chief financial officer owned 8,362 shares of the company's stock, valued at $3,144,864.58. The trade was a 39.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,475 shares of company stock valued at $11,665,881. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wingstop

A number of institutional investors have recently added to or reduced their stakes in the company. Freedom Investment Management Inc. grew its position in Wingstop by 2.2% during the second quarter. Freedom Investment Management Inc. now owns 1,371 shares of the restaurant operator's stock valued at $462,000 after acquiring an additional 30 shares during the period. Farther Finance Advisors LLC grew its position in Wingstop by 16.8% during the second quarter. Farther Finance Advisors LLC now owns 223 shares of the restaurant operator's stock valued at $75,000 after acquiring an additional 32 shares during the period. Wedmont Private Capital grew its position in Wingstop by 2.9% during the second quarter. Wedmont Private Capital now owns 1,165 shares of the restaurant operator's stock valued at $389,000 after acquiring an additional 33 shares during the period. Parallel Advisors LLC grew its position in Wingstop by 22.3% during the second quarter. Parallel Advisors LLC now owns 181 shares of the restaurant operator's stock valued at $61,000 after acquiring an additional 33 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in Wingstop by 0.5% during the second quarter. Harbor Capital Advisors Inc. now owns 6,569 shares of the restaurant operator's stock valued at $2,212,000 after acquiring an additional 34 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.