Wingstop (NASDAQ:WING) Price Target Lowered to $300.00 at BMO Capital Markets

Wingstop (NASDAQ:WING) had its target price lowered by analysts at BMO Capital Markets from $335.00 to $300.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the restaurant operator’s stock. BMO Capital Markets’ target price would indicate a potential upside of 17.70% from the stock’s previous close.

Other analysts also recently issued reports about the company. Benchmark decreased their target price on Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a research report on Thursday. Raymond James reiterated an “outperform” rating and issued a $330.00 price objective (down from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Northcoast Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target for the company in a research report on Friday, November 1st. Morgan Stanley reduced their price objective on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Piper Sandler reduced their target price on Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $374.00.

Wingstop Stock Down 3.8 %

Shares of Wingstop stock opened at $254.89 on Thursday. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 74.06, a price-to-earnings-growth ratio of 2.75 and a beta of 1.81. Wingstop has a 52-week low of $258.50 and a 52-week high of $433.86. The company’s 50-day simple moving average is $291.76 and its 200-day simple moving average is $341.94.

Wingstop announced that its board has authorized a stock repurchase program on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the restaurant operator to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Wingstop

In related news, SVP Raj Kapoor sold 266 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the sale, the senior vice president now directly owns 266 shares in the company, valued at $86,285.08. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wingstop

Hedge funds have recently bought and sold shares of the business. True Wealth Design LLC purchased a new position in Wingstop during the 3rd quarter valued at about $36,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Wingstop by 521.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 73 shares during the period. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Wingstop by 62.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 35 shares during the period. Hollencrest Capital Management grew its position in Wingstop by 53.8% during the third quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 35 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Wingstop in the 4th quarter valued at approximately $30,000.

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.