Piper Sandler Issues Pessimistic Forecast for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its price objective decreased by Piper Sandler from $375.00 to $300.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s price target points to a potential upside of 0.14% from the company’s previous close.

Several other analysts also recently weighed in on WING. TD Cowen dropped their target price on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a report on Thursday. Benchmark raised Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective for the company in a research note on Thursday. Citigroup increased their target price on Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. The Goldman Sachs Group lifted their target price on Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Northcoast Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a research report on Friday. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Wingstop presently has an average rating of “Moderate Buy” and an average price target of $375.63.

Wingstop Price Performance

Shares of NASDAQ:WING traded up $2.63 during midday trading on Monday, hitting $299.57. The company had a trading volume of 157,642 shares, compared to its average volume of 451,289. Wingstop has a twelve month low of $204.01 and a twelve month high of $433.86. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 87.21, a price-to-earnings-growth ratio of 2.74 and a beta of 1.76. The business’s 50-day simple moving average is $388.10 and its 200-day simple moving average is $387.26.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). The firm had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 EPS. As a group, sell-side analysts forecast that Wingstop will post 3.79 EPS for the current year.

Insider Buying and Selling at Wingstop

In other news, SVP Donnie Upshaw sold 3,199 shares of Wingstop stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the sale, the senior vice president now owns 97 shares in the company, valued at approximately $36,152.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wingstop

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC lifted its position in Wingstop by 284.1% during the 2nd quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock worth $161,957,000 after acquiring an additional 283,412 shares during the period. Renaissance Technologies LLC raised its stake in shares of Wingstop by 36.6% during the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after purchasing an additional 161,600 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Wingstop by 66.6% during the second quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock worth $137,753,000 after purchasing 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 buying an additional 104,780 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Wingstop by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock worth $833,026,000 after buying an additional 101,917 shares during the last quarter.

About Wingstop

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.