Jefferies Financial Group Upgrades Wingstop (NASDAQ:WING) to Buy

Jefferies Financial Group upgraded shares of Wingstop (NASDAQ:WING - Free Report) from a hold rating to a buy rating in a research report report published on Monday morning, Marketbeat reports. They currently have $270.00 target price on the restaurant operator's stock.

Several other brokerages also recently commented on WING. Wells Fargo & Company initiated coverage on shares of Wingstop in a report on Wednesday, March 26th. They issued an "overweight" rating and a $270.00 target price on the stock. Raymond James reissued an "outperform" rating and set a $330.00 price objective (down previously from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. BMO Capital Markets lowered their target price on Wingstop from $335.00 to $300.00 and set a "market perform" rating on the stock in a report on Thursday, February 20th. Barclays dropped their price target on Wingstop from $359.00 to $315.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Finally, UBS Group reduced their price objective on Wingstop from $330.00 to $300.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $350.73.

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Wingstop Stock Up 4.8 %

Shares of NASDAQ:WING traded up $10.82 during trading on Monday, reaching $236.40. The stock had a trading volume of 1,047,698 shares, compared to its average volume of 550,710. The stock has a fifty day simple moving average of $255.62 and a two-hundred day simple moving average of $309.67. Wingstop has a 52 week low of $205.60 and a 52 week high of $433.86. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 63.72, a P/E/G ratio of 2.27 and a beta of 1.88.

Wingstop declared that its Board of Directors has initiated a share buyback plan on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Friday, March 7th. Wingstop's dividend payout ratio (DPR) is 29.11%.

Institutional Investors Weigh In On Wingstop

Large investors have recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in Wingstop in the fourth quarter valued at about $10,177,000. SG Americas Securities LLC raised its stake in shares of Wingstop by 277.5% in the fourth quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator's stock valued at $1,356,000 after acquiring an additional 3,507 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Wingstop by 779.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator's stock worth $5,247,000 after acquiring an additional 16,361 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Wingstop by 475.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator's stock worth $19,676,000 after acquiring an additional 57,193 shares during the last quarter. Finally, Conway Capital Management Inc. acquired a new stake in Wingstop during the 3rd quarter valued at $3,544,000.

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.