Piper Sandler Cuts Wingstop (NASDAQ:WING) Price Target to $300.00

Wingstop (NASDAQ:WING) had its price target decreased by Piper Sandler from $375.00 to $300.00 in a research report report published on Monday, Benzinga reports. Piper Sandler currently has a neutral rating on the restaurant operator’s stock.

A number of other brokerages also recently issued reports on WING. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target on the stock in a research report on Thursday, October 31st. Barclays decreased their target price on Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Morgan Stanley boosted their price target on shares of Wingstop from $390.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. Benchmark raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective on the stock in a report on Thursday, October 31st. Finally, Truist Financial lifted their target price on shares of Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.00.

Wingstop Trading Up 2.2 %

Shares of NASDAQ:WING opened at $315.51 on Monday. Wingstop has a twelve month low of $204.01 and a twelve month high of $433.86. The company has a market cap of $9.22 billion, a PE ratio of 91.29, a price-to-earnings-growth ratio of 2.74 and a beta of 1.76. The company’s 50 day moving average is $383.99 and its 200 day moving average is $386.76.

Wingstop (NASDAQ:WING) last issued 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 analyst estimates of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The business’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. Equities research analysts predict that Wingstop will post 3.72 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.34%. Wingstop’s payout ratio is currently 31.49%.

Institutional Trading of Wingstop

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its position in shares of Wingstop by 284.1% during the second quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock worth $161,957,000 after buying an additional 283,412 shares during the period. Renaissance Technologies LLC lifted its stake in Wingstop by 36.6% during the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after acquiring an additional 161,600 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Wingstop by 66.6% during the 2nd quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock valued at $137,753,000 after acquiring an additional 130,248 shares during the period. Vanguard Group Inc. grew its position 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 acquiring an additional 104,780 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position 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 acquiring an additional 101,917 shares in 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.