TD Cowen Has Lowered Expectations for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its price target decreased by stock analysts at TD Cowen from $450.00 to $365.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. TD Cowen’s price objective would suggest a potential upside of 25.87% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Piper Sandler raised their target price on shares of Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Wedbush raised their target price on shares of Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Stephens reduced their target price on shares of Wingstop from $490.00 to $468.00 and set an “overweight” rating for the company in a report on Thursday. Truist Financial raised their target price on shares of Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, BMO Capital Markets raised their target price on shares of Wingstop from $345.00 to $360.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $374.32.

Wingstop Price Performance

Wingstop stock opened at $289.99 on Thursday. The firm has a 50 day simple moving average of $392.16 and a 200-day simple moving average of $388.27. The stock has a market capitalization of $8.50 billion, a PE ratio of 103.20, a price-to-earnings-growth ratio of 3.41 and a beta of 1.71. Wingstop has a 12-month low of $177.88 and a 12-month high of $433.86.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.09). The company had revenue of $162.50 million during the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The company’s revenue was up 38.8% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share. On average, analysts forecast 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 the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the transaction, the senior vice president now owns 97 shares in the company, valued at approximately $36,152.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WING. Millennium Management LLC raised its holdings in shares of Wingstop by 284.1% during the 2nd 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 in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Wingstop by 36.6% during the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after purchasing an additional 161,600 shares in the last quarter. AQR Capital Management LLC grew its stake in Wingstop by 66.6% in the 2nd quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock valued at $137,753,000 after buying an additional 130,248 shares during the last quarter. Vanguard Group Inc. grew its stake in Wingstop by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock valued at $1,071,473,000 after buying an additional 104,780 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Wingstop by 4.7% in 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 buying an additional 101,917 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.