BMO Capital Markets Lowers Wingstop (NASDAQ:WING) Price Target to $300.00

Wingstop (NASDAQ:WING) had its price objective lowered by BMO Capital Markets from $335.00 to $300.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the restaurant operator’s stock. BMO Capital Markets’ price target suggests a potential upside of 28.19% from the stock’s previous close.

A number of other brokerages also recently issued reports on WING. Benchmark lowered their price target on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a report on Thursday. TD Securities decreased their price objective on shares of Wingstop from $365.00 to $305.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays decreased their price objective on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. The Goldman Sachs Group upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $458.00 to $377.00 in a research report on Friday, November 8th. Finally, TD Cowen decreased their price objective on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $367.05.

Wingstop Trading Down 5.3 %

Shares of Wingstop stock opened at $234.02 on Thursday. Wingstop has a 12-month low of $232.19 and a 12-month high of $433.86. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 63.08, a PEG ratio of 2.38 and a beta of 1.81. The company’s 50-day moving average price is $288.89 and its 200-day moving average price is $340.46.

Wingstop announced that its Board of Directors has approved a share repurchase program on Thursday, December 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the restaurant operator to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $324.38, for a total transaction of $86,285.08. Following the completion of the transaction, the senior vice president now owns 266 shares of the company’s stock, valued at approximately $86,285.08. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wingstop

Several institutional investors and hedge funds have recently added to or reduced their stakes in WING. American Century Companies Inc. raised its position in shares of Wingstop by 1.9% in the 4th quarter. American Century Companies Inc. now owns 1,206,062 shares of the restaurant operator’s stock worth $342,763,000 after purchasing an additional 22,552 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Wingstop by 29.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,150,217 shares of the restaurant operator’s stock worth $326,893,000 after purchasing an additional 262,229 shares during the last quarter. State Street Corp raised its position in shares of Wingstop by 1.5% in the 3rd quarter. State Street Corp now owns 861,783 shares of the restaurant operator’s stock worth $358,571,000 after purchasing an additional 12,549 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Wingstop by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator’s stock worth $326,020,000 after purchasing an additional 7,204 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Wingstop by 23.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 801,732 shares of the restaurant operator’s stock worth $227,852,000 after purchasing an additional 154,055 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.