Wingstop (NASDAQ:WING) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Wingstop (NASDAQ:WING) from a hold rating to a buy rating in a research report sent to investors on Monday, MarketBeat Ratings reports. The firm currently has $270.00 price target on the restaurant operator’s stock.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus dropped their price objective on shares of Wingstop from $375.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Barclays dropped their price target on Wingstop from $359.00 to $315.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Wells Fargo & Company assumed coverage on Wingstop in a research note on Wednesday, March 26th. They issued an “overweight” rating and a $270.00 price objective for the company. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Wingstop in a research report on Wednesday, February 19th. Finally, UBS Group reduced their price target on shares of Wingstop from $330.00 to $300.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $350.73.

Wingstop Stock Performance

Shares of Wingstop stock opened at $235.96 on Monday. The company has a market capitalization of $6.58 billion, a PE ratio of 63.60, a P/E/G ratio of 2.27 and a beta of 2.01. The company has a 50-day simple moving average of $254.66 and a two-hundred day simple moving average of $309.15. Wingstop has a one year low of $205.60 and a one year high of $433.86.

Wingstop declared that its board has approved a share repurchase program on Thursday, December 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the restaurant operator to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wingstop Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. Wingstop’s payout ratio is 29.11%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WING. EverSource Wealth Advisors LLC raised its position in shares of Wingstop by 521.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock worth $25,000 after buying an additional 73 shares in the last quarter. CBIZ Investment Advisory Services LLC increased 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 valued at $26,000 after acquiring an additional 35 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Wingstop by 93.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 62 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Wingstop in the fourth quarter worth approximately $30,000. Finally, True Wealth Design LLC bought a new position in Wingstop during the 3rd quarter valued at $36,000.

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.