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

Wingstop (NASDAQ:WING) had its price objective dropped by equities research analysts at Barclays from $470.00 to $380.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. Barclays‘s price objective points to a potential upside of 27.97% from the company’s previous close.

WING has been the subject of several other reports. Benchmark upgraded Wingstop from a “hold” rating to a “buy” rating and set a $340.00 target price for the company in a research report on Thursday. Wedbush boosted their price objective on shares of Wingstop from $425.00 to $440.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Stephens lowered their target price on shares of Wingstop from $490.00 to $468.00 and set an “overweight” rating for the company in a research note on Thursday. Piper Sandler lifted their price target on shares of Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley upped their price objective on shares of Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 16th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $370.85.

Wingstop Price Performance

Shares of NASDAQ WING opened at $296.94 on Thursday. Wingstop has a fifty-two week low of $196.54 and a fifty-two week high of $433.86. The firm has a market capitalization of $8.70 billion, a P/E ratio of 86.57, a P/E/G ratio of 2.74 and a beta of 1.71. The company’s 50 day simple moving average is $388.10 and its 200 day simple moving average is $387.14.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the company earned $0.69 EPS. The business’s revenue for the quarter was up 38.8% compared to the same quarter last year. Sell-side analysts expect that Wingstop will post 3.81 EPS for the current fiscal year.

Insider Buying and Selling at Wingstop

In related news, SVP Donnie Upshaw sold 3,199 shares of the company’s 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.36% of the company’s stock.

Institutional Trading of Wingstop

Large investors have recently added to or reduced their stakes in the company. Fulton Bank N.A. increased its stake in shares of Wingstop by 5.0% during the 3rd quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock worth $228,000 after purchasing an additional 26 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Wingstop by 3.7% during the second quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after purchasing an additional 29 shares during the period. Dark Forest Capital Management LP grew its holdings in Wingstop by 4.3% during the second quarter. Dark Forest Capital Management LP now owns 752 shares of the restaurant operator’s stock worth $318,000 after purchasing an additional 31 shares during the period. 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 buying an additional 35 shares during the last quarter. Finally, Hollencrest Capital Management raised its stake in Wingstop by 53.8% in the third quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after buying an additional 35 shares during the period.

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.