Wedbush Increases Wingstop (NASDAQ:WING) Price Target to $425.00

Wingstop (NASDAQ:WING) had its target price lifted by analysts at Wedbush from $400.00 to $425.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s price target would indicate a potential upside of 9.38% from the company’s current price. Wedbush also issued estimates for Wingstop’s Q2 2024 earnings at $0.74 EPS, Q3 2024 earnings at $0.84 EPS, Q3 2024 earnings at $0.83 EPS, FY2024 earnings at $3.08 EPS, FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $0.97 EPS, Q3 2025 earnings at $1.05 EPS, Q4 2025 earnings at $0.99 EPS and FY2025 earnings at $3.66 EPS.

Several other research firms have also issued reports on WING. BMO Capital Markets increased their target price on Wingstop from $235.00 to $275.00 and gave the stock a “market perform” rating in a research note on Thursday, February 22nd. Stephens reaffirmed an “overweight” rating and issued a $425.00 price target on shares of Wingstop in a research report on Wednesday. Truist Financial reaffirmed a “hold” rating and issued a $292.00 price target on shares of Wingstop in a research report on Monday, April 1st. Citigroup increased their price target on Wingstop from $320.00 to $375.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Finally, Robert W. Baird increased their price target on Wingstop from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $330.39.

Wingstop Stock Performance

Shares of NASDAQ WING traded up $7.01 during mid-day trading on Thursday, reaching $388.55. 510,680 shares of the company’s stock were exchanged, compared to its average volume of 532,882. The firm has a market capitalization of $11.41 billion, a price-to-earnings ratio of 138.27, a PEG ratio of 6.30 and a beta of 1.67. Wingstop has a 52-week low of $150.08 and a 52-week high of $396.00. The company’s 50-day moving average is $360.49 and its 200-day moving average is $288.00.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.22. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The business had revenue of $145.70 million during the quarter, compared to analysts’ expectations of $136.34 million. During the same period in the prior year, the business posted $0.59 EPS. The company’s revenue was up 34.0% compared to the same quarter last year. As a group, equities analysts predict that Wingstop will post 3.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the completion of the transaction, the chief executive officer now owns 17,107 shares in the company, valued at approximately $5,771,901.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Marisa Carona sold 2,586 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $371.96, for a total value of $961,888.56. Following the completion of the transaction, the senior vice president now owns 1,646 shares in the company, valued at approximately $612,246.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the completion of the transaction, the chief executive officer now owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,901 shares of company stock worth $5,120,605. 0.36% of the stock is owned by insiders.

Hedge Funds Weigh In On Wingstop

A number of large investors have recently made changes to their positions in WING. RIA Advisory Group LLC acquired a new stake in Wingstop in the 1st quarter valued at about $436,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Wingstop by 3.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 12,444 shares of the restaurant operator’s stock worth $4,559,000 after acquiring an additional 430 shares during the last quarter. Whittier Trust Co. boosted its position in shares of Wingstop by 4.0% in the first quarter. Whittier Trust Co. now owns 24,346 shares of the restaurant operator’s stock worth $8,920,000 after acquiring an additional 936 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of Wingstop in the first quarter worth approximately $4,188,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of Wingstop by 276.9% in the first quarter. Daiwa Securities Group Inc. now owns 980 shares of the restaurant operator’s stock worth $359,000 after acquiring an additional 720 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.