Wingstop (NASDAQ:WING) Coverage Initiated by Analysts at Wells Fargo & Company

Research analysts at Wells Fargo & Company initiated coverage on shares of Wingstop (NASDAQ:WING) in a research report issued on Wednesday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $270.00 price target on the restaurant operator’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 17.75% from the company’s previous close.

Other research analysts also recently issued reports about the company. Northcoast Research downgraded Wingstop from a “buy” rating to a “neutral” rating in a report on Friday, February 21st. Barclays lowered their target price on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Guggenheim upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price target for the company in a research note on Monday, February 24th. TD Securities lowered 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, February 20th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $330.00 target price (down previously from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wingstop has an average rating of “Moderate Buy” and a consensus target price of $353.68.

Wingstop Stock Performance

NASDAQ:WING opened at $229.29 on Wednesday. The firm has a market cap of $6.57 billion, a P/E ratio of 61.80, a P/E/G ratio of 2.27 and a beta of 1.88. Wingstop has a fifty-two week low of $205.60 and a fifty-two week high of $433.86. The firm has a 50-day simple moving average of $258.42 and a two-hundred day simple moving average of $313.98.

Wingstop declared that its board has authorized a share buyback program on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the restaurant operator to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Wingstop

Several institutional investors and hedge funds have recently modified their holdings of WING. EverSource Wealth Advisors LLC increased its stake in Wingstop by 521.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock worth $25,000 after buying an additional 73 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in shares of Wingstop by 62.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 35 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Wingstop during the fourth quarter worth about $30,000. True Wealth Design LLC bought a new stake in Wingstop during the 3rd quarter valued at approximately $36,000. Finally, V Square Quantitative Management LLC lifted its holdings in Wingstop by 34.9% in the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 37 shares in 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.