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

Research analysts at Wells Fargo & Company started coverage on shares of Wingstop (NASDAQ:WING - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm set an "overweight" rating and a $270.00 price target on the restaurant operator's stock. Wells Fargo & Company's price target points to a potential upside of 20.54% from the stock's previous close.

WING has been the topic of several other reports. Wedbush dropped their price objective on Wingstop from $390.00 to $355.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Guggenheim upgraded Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 target price on the stock in a report on Monday, February 24th. Morgan Stanley lowered their price objective on shares of Wingstop from $389.00 to $375.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. BMO Capital Markets dropped their price target on shares of Wingstop from $335.00 to $300.00 and set a "market perform" rating on the stock in a research note on Thursday, February 20th. Finally, Barclays decreased their price objective on shares of Wingstop from $359.00 to $315.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Wingstop presently has an average rating of "Moderate Buy" and an average price target of $353.68.

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Wingstop Stock Performance

NASDAQ WING traded down $5.29 during trading hours on Wednesday, reaching $224.00. The company's stock had a trading volume of 1,059,289 shares, compared to its average volume of 546,828. Wingstop has a fifty-two week low of $205.60 and a fifty-two week high of $433.86. The stock has a market cap of $6.25 billion, a PE ratio of 60.38, a PEG ratio of 2.27 and a beta of 1.88. The company's 50-day moving average is $257.45 and its two-hundred day moving average is $312.53.

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

Institutional Trading of Wingstop

Hedge funds have recently modified their holdings of the stock. Verdence Capital Advisors LLC raised its position in shares of Wingstop by 3.9% in the 4th quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator's stock valued at $256,000 after acquiring an additional 34 shares during the period. Public Employees Retirement System of Ohio raised its position in Wingstop by 0.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,523 shares of the restaurant operator's stock valued at $4,794,000 after buying an additional 35 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in shares of Wingstop by 62.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator's stock valued at $26,000 after purchasing an additional 35 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Wingstop by 34.9% during the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock worth $41,000 after buying an additional 37 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Wingstop by 4.9% in the 4th quarter. Tidal Investments LLC now owns 795 shares of the restaurant operator's stock valued at $226,000 after acquiring an additional 37 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.