Wingstop (NASDAQ:WING) Given New $440.00 Price Target at Wedbush

by · The Markets Daily

Wingstop (NASDAQ:WING – Free Report) had its price target hoisted by Wedbush from $425.00 to $440.00 in a research note published on Monday morning, Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock. Wedbush also issued estimates for Wingstop’s Q3 2024 earnings at $0.99 EPS, Q4 2024 earnings at $0.90 EPS, FY2024 earnings at $3.80 EPS, Q1 2025 earnings at $1.16 EPS, Q2 2025 earnings at $1.18 EPS, Q4 2025 earnings at $1.16 EPS and FY2025 earnings at $4.75 EPS.

A number of other research analysts also recently issued reports on the stock. Truist Financial upped their target price on shares of Wingstop from $407.00 to $423.00 and gave the company a hold rating in a research report on Thursday, August 1st. Barclays lifted their target price on shares of Wingstop from $418.00 to $425.00 and gave the stock an overweight rating in a report on Thursday, August 1st. Morgan Stanley lifted their target price on shares of Wingstop from $390.00 to $400.00 and gave the stock an equal weight rating in a report on Tuesday, July 16th. Piper Sandler increased their price target on Wingstop from $353.00 to $375.00 and gave the company a neutral rating in a research note on Friday, August 2nd. Finally, Raymond James upgraded Wingstop from a market perform rating to an outperform rating and set a $42.00 price objective for the company in a report on Thursday, August 1st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $379.53.

View Our Latest Stock Report on WING

Wingstop Price Performance

Shares of WING stock opened at $421.53 on Monday. The stock has a fifty day moving average price of $380.27 and a 200 day moving average price of $380.66. The stock has a market cap of $12.35 billion, a P/E ratio of 150.01, a price-to-earnings-growth ratio of 4.09 and a beta of 1.71. Wingstop has a one year low of $166.65 and a one year high of $431.03.

Wingstop (NASDAQ:WING – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating the consensus estimate of $0.82 by $0.11. The business had revenue of $155.70 million for the quarter, compared to analyst estimates of $146.04 million. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. Wingstop’s quarterly revenue was up 45.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 EPS. Equities research analysts anticipate that Wingstop will post 3.77 EPS for the current year.

Wingstop Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Friday, August 16th. This is a positive change from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s dividend payout ratio is 38.43%.

Insider Activity

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $372.71, for a total value of $1,192,299.29. Following the transaction, the senior vice president now directly owns 97 shares in the company, valued at approximately $36,152.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

A number of large investors have recently modified their holdings of WING. Hollencrest Capital Management purchased a new stake in Wingstop in the second quarter worth approximately $27,000. Rise Advisors LLC purchased a new stake in shares of Wingstop in the 1st quarter valued at $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Wingstop in the 2nd quarter valued at $34,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 35 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Wingstop by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 40 shares during the period.

About Wingstop

(Get Free Report)

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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