Wingstop (NASDAQ:WING) Hits New 52-Week High at $432.81

Wingstop Inc. (NASDAQ:WING)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $432.81 and last traded at $432.38, with a volume of 65959 shares. The stock had previously closed at $427.92.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WING. Piper Sandler upped their price target on shares of Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Barclays raised their target price on shares of Wingstop from $418.00 to $425.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Stephens restated an “overweight” rating and issued a $475.00 price target on shares of Wingstop in a research report on Wednesday, August 14th. Raymond James upgraded Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Thursday, August 1st. Finally, TD Cowen restated a “buy” rating and issued a $450.00 target price on shares of Wingstop in a report on Wednesday, July 31st. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Wingstop has an average rating of “Hold” and an average target price of $379.53.

Wingstop Price Performance

The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 151.07, a P/E/G ratio of 4.26 and a beta of 1.71. The business has a fifty day moving average of $384.68 and a 200 day moving average of $382.71.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The company had revenue of $155.70 million for the quarter, compared to analyst estimates of $146.04 million. During the same quarter in the prior year, the business posted $0.57 EPS. Wingstop’s quarterly revenue was up 45.3% on a year-over-year basis. On average, analysts expect that Wingstop Inc. will post 3.78 EPS for the current year.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were issued a dividend of $0.27 per share. This is a positive change from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.25%. Wingstop’s dividend payout ratio is currently 38.43%.

Insiders Place Their Bets

In other news, SVP Donnie Upshaw sold 3,199 shares of Wingstop stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $372.71, for a total value of $1,192,299.29. Following the transaction, the senior vice president now owns 97 shares of the company’s stock, valued at $36,152.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

Institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management bought a new stake in Wingstop during the 2nd quarter valued at approximately $27,000. Rise Advisors LLC bought a new stake in shares of Wingstop in the first quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Wingstop in the second quarter worth $34,000. Massmutual Trust Co. FSB ADV increased its position in Wingstop by 60.3% during the second 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 period. Finally, GAMMA Investing LLC raised its stake in Wingstop by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 40 shares during 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.