Citigroup Boosts Wingstop (NASDAQ:WING) Price Target to $440.00

Wingstop (NASDAQ:WING - Free Report) had its price target increased by Citigroup from $417.00 to $440.00 in a report released on Friday, Benzinga reports. They currently have a neutral rating on the restaurant operator's stock.

Several other equities analysts also recently commented on WING. Piper Sandler upped their price target on shares of Wingstop from $353.00 to $375.00 and gave the company a neutral rating in a report on Friday, August 2nd. Raymond James upgraded Wingstop from a market perform rating to an outperform rating and set a $42.00 price target on the stock in a report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on Wingstop from $420.00 to $460.00 and gave the company a buy rating in a report on Tuesday, June 18th. Truist Financial increased their target price on Wingstop from $407.00 to $423.00 and gave the stock a hold rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their target price on Wingstop from $407.00 to $458.00 and gave the stock a neutral rating in a research report on Thursday, August 1st. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $382.00.

Wingstop Price Performance

Shares of NASDAQ:WING traded up $0.86 during trading on Friday, hitting $414.99. The company had a trading volume of 227,280 shares, compared to its average volume of 438,517. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 147.35, a price-to-earnings-growth ratio of 4.23 and a beta of 1.71. The company has a fifty day simple moving average of $390.24 and a two-hundred day simple moving average of $385.51. Wingstop has a one year low of $170.83 and a one year high of $433.86.

Wingstop (NASDAQ:WING - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The company had revenue of $155.70 million during the quarter, compared to analyst estimates of $146.04 million. During the same period in the previous year, the firm earned $0.57 earnings per share. Wingstop's quarterly revenue was up 45.3% compared to the same quarter last year. On average, equities research analysts anticipate that Wingstop will post 3.78 earnings per share for the current year.

Wingstop Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, August 16th. This is a boost from Wingstop's previous quarterly dividend of $0.22. Wingstop's dividend payout ratio (DPR) is 38.43%.

Insider Transactions at Wingstop

In related news, SVP Donnie Upshaw sold 3,199 shares of the firm's stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the sale, the senior vice president now owns 97 shares of the company's stock, valued at $36,152.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.36% of the company's stock.

Institutional Investors Weigh In On Wingstop

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in shares of Wingstop during the second quarter worth $535,000. Cetera Investment Advisers grew its stake in Wingstop by 23.0% during the 2nd quarter. Cetera Investment Advisers now owns 3,789 shares of the restaurant operator's stock worth $1,601,000 after buying an additional 708 shares during the last quarter. Capital Impact Advisors LLC acquired a new position in Wingstop during the 2nd quarter valued at about $685,000. Creative Planning raised its stake in Wingstop by 44.1% in the second quarter. Creative Planning now owns 1,463 shares of the restaurant operator's stock valued at $618,000 after buying an additional 448 shares during the last quarter. Finally, Algert Global LLC boosted its holdings in Wingstop by 13.2% in the second quarter. Algert Global LLC now owns 25,267 shares of the restaurant operator's stock worth $10,679,000 after acquiring an additional 2,944 shares in the last quarter.

Wingstop Company Profile

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.