Wingstop's (WING) Outperform Rating Reaffirmed at Wedbush

Wingstop (NASDAQ:WING - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Wedbush in a research note issued on Tuesday, Benzinga reports. They currently have a $390.00 price target on the restaurant operator's stock. Wedbush's price target would suggest a potential upside of 26.31% from the company's current price. Wedbush also issued estimates for Wingstop's Q4 2024 earnings at $0.84 EPS, FY2024 earnings at $3.63 EPS, Q1 2025 earnings at $1.13 EPS, Q2 2025 earnings at $1.16 EPS, Q4 2025 earnings at $1.13 EPS and FY2025 earnings at $4.59 EPS.

Several other research firms have also weighed in on WING. BMO Capital Markets increased their price target on shares of Wingstop from $345.00 to $360.00 and gave the company a "market perform" rating in a research report on Thursday, August 1st. Morgan Stanley boosted their price target on shares of Wingstop from $390.00 to $400.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 16th. BTIG Research upgraded shares of Wingstop from a "neutral" rating to a "buy" rating and set a $370.00 target price for the company in a research report on Thursday, October 31st. Benchmark upgraded Wingstop from a "hold" rating to a "buy" rating and set a $340.00 price objective for the company in a report on Thursday, October 31st. Finally, Piper Sandler decreased their target price on shares of Wingstop from $375.00 to $300.00 and set a "neutral" rating on the stock in a research report on Monday. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Wingstop presently has an average rating of "Moderate Buy" and a consensus price target of $373.00.

Wingstop Stock Performance

Shares of NASDAQ WING traded up $11.59 during midday trading on Tuesday, reaching $308.77. The stock had a trading volume of 747,965 shares, compared to its average volume of 455,161. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 89.27, a price-to-earnings-growth ratio of 2.74 and a beta of 1.76. The company's 50 day moving average price is $385.96 and its 200 day moving average price is $387.03. Wingstop has a twelve month low of $204.01 and a twelve month high of $433.86.

Wingstop (NASDAQ:WING - Get Free Report) last issued its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.09). The firm had revenue of $162.50 million during the quarter, compared to analyst estimates of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The business's quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. Equities analysts forecast that Wingstop will post 3.72 earnings per share for the current fiscal year.

Insider Activity

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the firm's stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 97 shares of the company's stock, valued at $36,152.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.36% of the company's stock.

Hedge Funds Weigh In On Wingstop

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Wingstop by 3.7% in the first quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator's stock valued at $1,071,473,000 after purchasing an additional 104,780 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Wingstop by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator's stock valued at $833,026,000 after acquiring an additional 101,917 shares during the period. Renaissance Technologies LLC boosted its position in Wingstop by 36.6% during the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator's stock worth $254,860,000 after purchasing an additional 161,600 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Wingstop by 2.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 600,905 shares of the restaurant operator's stock worth $253,979,000 after buying an additional 16,526 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Wingstop by 284.1% in the second quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator's stock valued at $161,957,000 after purchasing an additional 283,412 shares during 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.