Wingstop (NASDAQ:WING) Price Target Increased to $461.00 by Analysts at Bank of America

Wingstop (NASDAQ:WING) had its price target hoisted by equities researchers at Bank of America from $421.00 to $461.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Bank of America‘s price objective suggests a potential upside of 20.66% from the stock’s current price.

Several other analysts have also issued reports on the stock. Morgan Stanley boosted their price objective on shares of Wingstop from $280.00 to $315.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. BMO Capital Markets boosted their price target on shares of Wingstop from $275.00 to $325.00 and gave the company a “market perform” rating in a research note on Thursday. Benchmark restated a “hold” rating on shares of Wingstop in a report on Thursday. Stifel Nicolaus lifted their target price on shares of Wingstop from $270.00 to $330.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Jefferies Financial Group upped their price target on Wingstop from $310.00 to $335.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Wingstop currently has an average rating of “Hold” and an average price target of $318.39.

Wingstop Stock Performance

Shares of NASDAQ WING traded down $1.93 during midday trading on Thursday, reaching $382.05. 305,175 shares of the stock were exchanged, compared to its average volume of 482,608. The stock has a market capitalization of $11.22 billion, a P/E ratio of 162.86, a PEG ratio of 6.61 and a beta of 1.67. The company has a 50 day simple moving average of $358.55 and a 200 day simple moving average of $285.89. Wingstop has a twelve month low of $150.08 and a twelve month high of $396.00.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.22. Wingstop had a negative return on equity of 17.66% and a net margin of 15.25%. The company had revenue of $145.70 million during the quarter, compared to analyst estimates of $136.34 million. During the same period in the prior year, the business posted $0.59 earnings per share. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. On average, research analysts expect that Wingstop will post 3.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Marisa Carona sold 2,586 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $371.96, for a total transaction of $961,888.56. Following the completion of the transaction, the senior vice president now owns 1,646 shares in the company, valued at $612,246.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Marisa Carona sold 2,586 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $371.96, for a total transaction of $961,888.56. Following the completion of the sale, the senior vice president now owns 1,646 shares in the company, valued at $612,246.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the completion of the transaction, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The disclosure for this sale can be found here. Insiders sold 14,901 shares of company stock worth $5,120,605 in the last 90 days. Corporate insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Wingstop

Several hedge funds and other institutional investors have recently bought and sold shares of WING. McGlone Suttner Wealth Management Inc. acquired a new position in Wingstop during the fourth quarter worth approximately $28,000. Rise Advisors LLC purchased a new stake in Wingstop in the 1st quarter valued at $29,000. Headlands Technologies LLC purchased a new position in Wingstop during the 3rd quarter worth $38,000. FSC Wealth Advisors LLC acquired a new position in Wingstop in the fourth quarter valued at $39,000. Finally, GAMMA Investing LLC raised its holdings in shares of Wingstop by 53.3% in the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after buying an additional 40 shares during the last quarter.

About Wingstop

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.