Truist Financial Increases Wingstop (NASDAQ:WING) Price Target to $204.00

Posted by Defense World Staff on Nov 5th, 2023

Wingstop (NASDAQ:WING – Get Free Report) had its target price increased by equities research analysts at Truist Financial from $191.00 to $204.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s price target suggests a potential downside of 1.37% from the company’s current price.

A number of other equities research analysts have also recently issued reports on WING. StockNews.com assumed coverage on shares of Wingstop in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Royal Bank of Canada lowered their target price on shares of Wingstop from $200.00 to $195.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 3rd. UBS Group lowered their target price on shares of Wingstop from $225.00 to $190.00 in a research note on Thursday, August 3rd. Stephens reaffirmed an “overweight” rating and set a $240.00 target price on shares of Wingstop in a research note on Thursday, August 31st. Finally, Jefferies Financial Group upgraded Wingstop from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $150.00 to $170.00 in a report on Tuesday, October 3rd. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.94.

Read Our Latest Report on Wingstop

Wingstop Price Performance

NASDAQ:WING opened at $206.84 on Friday. The company has a 50 day moving average price of $174.77 and a 200-day moving average price of $183.89. Wingstop has a 1-year low of $129.46 and a 1-year high of $223.77. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 89.93, a price-to-earnings-growth ratio of 4.33 and a beta of 1.47.

Wingstop (NASDAQ:WING – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.17. Wingstop had a net margin of 15.75% and a negative return on equity of 18.20%. The firm had revenue of $117.10 million for the quarter, compared to analysts’ expectations of $109.27 million. During the same quarter last year, the company earned $0.45 EPS. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Wingstop will post 2.31 earnings per share for the current fiscal year.

Insider Activity at Wingstop

In related news, SVP Donnie Upshaw sold 6,699 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $165.15, for a total value of $1,106,339.85. Following the sale, the senior vice president now directly owns 173 shares in the company, valued at approximately $28,570.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.36% of the stock is owned by insiders.

Institutional Trading of Wingstop

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. purchased a new stake in Wingstop in the 3rd quarter valued at about $731,000. Daiwa Securities Group Inc. purchased a new stake in Wingstop during the third quarter worth about $267,000. Zevenbergen Capital Investments LLC increased its stake in Wingstop by 1.8% during the third quarter. Zevenbergen Capital Investments LLC now owns 196,007 shares of the restaurant operator’s stock worth $35,250,000 after purchasing an additional 3,470 shares during the period. Teacher Retirement System of Texas increased its stake in Wingstop by 11.0% during the third quarter. Teacher Retirement System of Texas now owns 13,544 shares of the restaurant operator’s stock worth $2,436,000 after purchasing an additional 1,344 shares during the period. Finally, Jennison Associates LLC increased its stake in Wingstop by 8.5% during the third quarter. Jennison Associates LLC now owns 207,161 shares of the restaurant operator’s stock worth $37,256,000 after purchasing an additional 16,178 shares during the period.

Wingstop Company Profile

(Get Free Report)

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. Wingstop Inc was founded in 1994 and is headquartered in Addison, Texas.