Wells Fargo & Company Cuts Wingstop (NASDAQ:WING) Price Target to $225.00
by Kim Johansen · The Markets DailyWingstop (NASDAQ:WING – Get Free Report) had its target price dropped by analysts at Wells Fargo & Company from $330.00 to $225.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 44.46% from the company’s previous close.
WING has been the topic of several other research reports. Stephens reiterated an “overweight” rating and issued a $375.00 target price on shares of Wingstop in a research note on Thursday, February 19th. Melius Research set a $350.00 target price on shares of Wingstop in a report on Tuesday, January 20th. Royal Bank Of Canada dropped their target price on shares of Wingstop from $350.00 to $340.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Mizuho decreased their target price on Wingstop from $320.00 to $310.00 and set an “outperform” rating on the stock in a research report on Friday, January 9th. Finally, Citigroup lifted their price target on shares of Wingstop from $267.00 to $286.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Wingstop has an average rating of “Moderate Buy” and an average price target of $328.93.
View Our Latest Stock Analysis on Wingstop
Wingstop Stock Up 0.7%
Shares of WING stock opened at $155.75 on Tuesday. The company’s 50 day moving average is $235.23 and its 200 day moving average is $246.00. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.69 and a beta of 1.82. Wingstop has a 52-week low of $153.11 and a 52-week high of $388.14.
Wingstop (NASDAQ:WING – Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.16. The business had revenue of $175.69 million for the quarter, compared to the consensus estimate of $177.74 million. Wingstop had a negative return on equity of 16.12% and a net margin of 25.01%.The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $0.92 EPS. Analysts anticipate that Wingstop will post 4.18 EPS for the current fiscal year.
Insider Buying and Selling at Wingstop
In other news, Director Kilandigalu Madati sold 2,700 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $260.73, for a total value of $703,971.00. Following the completion of the sale, the director directly owned 2,583 shares of the company’s stock, valued at approximately $673,465.59. The trade was a 51.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wesley S. Mcdonald sold 566 shares of Wingstop stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $250.00, for a total value of $141,500.00. Following the completion of the sale, the director directly owned 4,375 shares in the company, valued at $1,093,750. This represents a 11.46% decrease in their position. The SEC filing for this sale provides additional information. 0.72% of the stock is owned by company insiders.
Institutional Investors Weigh In On Wingstop
Institutional investors have recently made changes to their positions in the stock. Lone Pine Capital LLC purchased a new position in shares of Wingstop in the 3rd quarter valued at about $375,317,000. Steadfast Capital Management LP boosted its holdings in Wingstop by 296.2% during the third quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock worth $239,227,000 after buying an additional 710,621 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Wingstop by 48.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,405,894 shares of the restaurant operator’s stock worth $335,292,000 after buying an additional 456,861 shares during the period. Capital World Investors increased its holdings in Wingstop by 160.6% in the third quarter. Capital World Investors now owns 740,896 shares of the restaurant operator’s stock valued at $186,469,000 after buying an additional 456,637 shares in the last quarter. Finally, Atreides Management LP purchased a new position in Wingstop in the fourth quarter valued at about $93,012,000.
Wingstop Company Profile
Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.
The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.