Wingstop (NASDAQ:WING) PT Raised to $398.00 at Citigroup

Wingstop (NASDAQ:WING) had its target price upped by Citigroup from $375.00 to $398.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Citigroup’s price target indicates a potential upside of 2.43% from the stock’s current price.

Several other brokerages also recently commented on WING. Jefferies Financial Group boosted their target price on shares of Wingstop from $310.00 to $335.00 and gave the company a “hold” rating in a research note on Tuesday, April 16th. Robert W. Baird raised their price objective on shares of Wingstop from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America boosted their target price on Wingstop from $421.00 to $461.00 and gave the stock a “buy” rating in a report on Thursday. Barclays raised their price target on Wingstop from $350.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday. Finally, TD Cowen reissued a “buy” rating and issued a $410.00 price objective on shares of Wingstop in a research note on Wednesday. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $330.39.

Wingstop Stock Performance

Shares of Wingstop stock opened at $388.55 on Thursday. Wingstop has a twelve month low of $150.08 and a twelve month high of $396.00. The firm has a market cap of $11.41 billion, a P/E ratio of 135.78, a price-to-earnings-growth ratio of 6.60 and a beta of 1.67. The firm’s 50-day simple moving average is $359.50 and its 200-day simple moving average is $286.56.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.22. The company had revenue of $145.70 million for the quarter, compared to analyst estimates of $136.34 million. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The company’s revenue was up 34.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. On average, equities analysts forecast that Wingstop will post 3.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael Skipworth sold 10,843 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $337.40, for a total value of $3,658,428.20. Following the completion of the sale, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Marisa Carona sold 2,586 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 1,646 shares of the company’s stock, valued at approximately $612,246.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Skipworth sold 10,843 shares of the business’s stock in a transaction dated 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. Over the last quarter, insiders have sold 14,901 shares of company stock worth $5,120,605. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

Several institutional investors have recently modified their holdings of the business. Rise Advisors LLC acquired a new position in Wingstop in the 1st quarter worth $29,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Wingstop during the fourth quarter worth about $28,000. 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 valued at $42,000 after buying an additional 40 shares during the last quarter. FSC Wealth Advisors LLC acquired a new stake in Wingstop in the 4th quarter valued at approximately $39,000. Finally, Riverview Trust Co bought a new stake in Wingstop in the 1st quarter valued at approximately $66,000.

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.