Barclays Issues Pessimistic Forecast for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING - Get Free Report) had its price target dropped by equities researchers at Barclays from $470.00 to $380.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the restaurant operator's stock. Barclays's target price suggests a potential upside of 30.41% from the company's current price.

WING has been the subject of several other reports. Stephens dropped their price objective on Wingstop from $490.00 to $468.00 and set an "overweight" rating for the company in a report on Thursday. Benchmark upgraded shares of Wingstop from a "hold" rating to a "buy" rating and set a $340.00 price objective on the stock in a report on Thursday. Raymond James raised shares of Wingstop from a "market perform" rating to an "outperform" rating and set a $42.00 target price for the company in a report on Thursday, August 1st. BMO Capital Markets increased their price target on Wingstop from $345.00 to $360.00 and gave the company a "market perform" rating in a research note on Thursday, August 1st. Finally, Truist Financial lifted their price objective on Wingstop from $407.00 to $423.00 and gave the stock a "hold" rating in a research note on Thursday, August 1st. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $371.95.

Wingstop Stock Performance

Wingstop stock traded up $1.39 during trading hours on Thursday, hitting $291.38. 601,113 shares of the stock were exchanged, compared to its average volume of 447,959. Wingstop has a 12 month low of $177.88 and a 12 month high of $433.86. The business's 50-day moving average is $392.16 and its two-hundred day moving average is $388.27. The stock has a market capitalization of $8.54 billion, a P/E ratio of 104.03, a P/E/G ratio of 3.41 and a beta of 1.71.

Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.09). Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The business had revenue of $162.50 million during the quarter, compared to the consensus estimate of $160.24 million. During the same period in the prior year, the firm earned $0.69 earnings per share. The business's quarterly revenue was up 38.8% compared to the same quarter last year. On average, equities analysts predict that Wingstop will post 3.81 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Donnie Upshaw sold 3,199 shares of Wingstop stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $372.71, for a total value of $1,192,299.29. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WING. Pittenger & Anderson Inc. raised its position in shares of Wingstop by 100.0% in the third quarter. Pittenger & Anderson Inc. now owns 490 shares of the restaurant operator's stock valued at $204,000 after purchasing an additional 245 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Wingstop by 64.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,741 shares of the restaurant operator's stock worth $1,557,000 after buying an additional 1,462 shares during the period. Harbor Capital Advisors Inc. grew its stake in Wingstop by 34.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 12,175 shares of the restaurant operator's stock valued at $5,066,000 after buying an additional 3,147 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Wingstop by 942.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 271 shares of the restaurant operator's stock valued at $113,000 after acquiring an additional 245 shares during the period. Finally, Stephens Inc. AR lifted its position in Wingstop by 3.9% during the third quarter. Stephens Inc. AR now owns 1,873 shares of the restaurant operator's stock worth $779,000 after acquiring an additional 71 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.

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