Wedbush Reiterates “Outperform” Rating for Wingstop (NASDAQ:WING)

Wedbush reaffirmed their outperform rating on shares of Wingstop (NASDAQ:WING) in a research note released on Tuesday,Benzinga reports. Wedbush currently has a $390.00 price target on the restaurant operator’s stock. Wedbush also issued estimates for Wingstop’s Q4 2024 earnings at $0.84 EPS, FY2024 earnings at $3.63 EPS, Q1 2025 earnings at $1.13 EPS, Q2 2025 earnings at $1.16 EPS, Q4 2025 earnings at $1.13 EPS and FY2025 earnings at $4.59 EPS.

WING has been the topic of several other research reports. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price on the stock in a research note 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 research report on Tuesday, July 16th. Truist Financial raised their price objective on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a report on Thursday, August 1st. BMO Capital Markets increased their price objective on Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Finally, Benchmark raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 target price on the stock in a report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $373.00.

Wingstop Stock Performance

NASDAQ WING opened at $331.89 on Tuesday. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 96.76, a PEG ratio of 2.74 and a beta of 1.76. The business has a 50 day simple moving average of $381.45 and a 200 day simple moving average of $385.89. Wingstop has a 52-week low of $204.01 and a 52-week high of $433.86.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The company had revenue of $162.50 million during the quarter, compared to analyst estimates of $160.24 million. During the same quarter last year, the company earned $0.69 EPS. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. On average, analysts predict that Wingstop will post 3.72 EPS for the current year.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.27 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.33%. Wingstop’s payout ratio is currently 31.49%.

Institutional Trading of Wingstop

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new position in Wingstop in the 2nd quarter worth about $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in Wingstop during the 2nd quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV grew its holdings in Wingstop by 60.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after acquiring an additional 35 shares during the last quarter. V Square Quantitative Management LLC increased its position in Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock valued at $44,000 after acquiring an additional 40 shares during the period. Finally, Blue Trust Inc. increased its holdings in Wingstop by 384.6% in the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 100 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.