Guggenheim Upgrades Wingstop (NASDAQ:WING) to “Buy”

Wingstop (NASDAQ:WING) was upgraded by research analysts at Guggenheim from a “neutral” rating to a “buy” rating in a report issued on Monday,Briefing.com Automated Import reports. The firm presently has a $280.00 price target on the restaurant operator’s stock. Guggenheim’s price target points to a potential upside of 19.65% from the stock’s previous close.

A number of other equities analysts have also weighed in on WING. Stephens reaffirmed an “overweight” rating and issued a $450.00 price objective on shares of Wingstop in a research note on Wednesday, February 19th. UBS Group reduced their price target on Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a report on Thursday. Barclays reduced their price target on Wingstop from $359.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley reduced their price objective on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group upgraded Wingstop from a “neutral” rating to a “buy” rating and cut their price target for the company from $458.00 to $377.00 in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $362.90.

Wingstop Trading Down 5.3 %

Wingstop stock opened at $234.02 on Monday. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 63.08, a price-to-earnings-growth ratio of 2.27 and a beta of 1.81. Wingstop has a 12 month low of $232.19 and a 12 month high of $433.86. The business’s fifty day simple moving average is $288.89 and its two-hundred day simple moving average is $340.14.

Wingstop declared that its board has approved a stock repurchase plan on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Wingstop

In related news, SVP Raj Kapoor sold 266 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $324.38, for a total value of $86,285.08. Following the transaction, the senior vice president now owns 266 shares of the company’s stock, valued at $86,285.08. This represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wingstop

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Wingstop by 521.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock worth $25,000 after buying an additional 73 shares during the period. CBIZ Investment Advisory Services LLC boosted its stake in shares of Wingstop by 62.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after buying an additional 35 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Wingstop during the fourth quarter worth about $30,000. True Wealth Design LLC acquired a new stake in shares of Wingstop during the third quarter worth about $36,000. Finally, V Square Quantitative Management LLC boosted its stake in shares of Wingstop by 34.9% during the fourth 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 during the period.

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.