Wingstop (NASDAQ:WING) Price Target Cut to $300.00 by Analysts at Piper Sandler

Wingstop (NASDAQ:WING) had its price objective decreased by Piper Sandler from $375.00 to $300.00 in a report released on Monday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the restaurant operator’s stock.

Several other analysts also recently commented on the stock. Barclays reduced their price target on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Wedbush increased their target price on shares of Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Stephens dropped their price target on Wingstop from $490.00 to $468.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Northcoast Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research report on Friday, November 1st. Finally, 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 note on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $373.00.

Wingstop Price Performance

Wingstop stock opened at $315.51 on Monday. The stock has a market cap of $9.22 billion, a PE ratio of 91.29, a P/E/G ratio of 2.74 and a beta of 1.76. The stock’s fifty day moving average is $383.99 and its two-hundred day moving average is $386.76. Wingstop has a 1-year low of $204.01 and a 1-year high of $433.86.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data 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 negative return on equity of 22.69% and a net margin of 17.05%. The company had revenue of $162.50 million for the quarter, compared to analysts’ expectations of $160.24 million. During the same quarter in the prior year, the firm posted $0.69 EPS. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. On average, research analysts expect that Wingstop will post 3.72 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, November 15th. Wingstop’s dividend payout ratio (DPR) is 31.49%.

Hedge Funds Weigh In On Wingstop

A number of hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Wingstop in the first quarter valued at $370,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Wingstop during the 1st quarter worth about $4,840,000. BNP Paribas Financial Markets increased its position in Wingstop by 1,308.1% during the 1st quarter. BNP Paribas Financial Markets now owns 24,951 shares of the restaurant operator’s stock worth $9,142,000 after purchasing an additional 23,179 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Wingstop in the first quarter worth $144,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Wingstop by 276.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 980 shares of the restaurant operator’s stock valued at $359,000 after acquiring an additional 720 shares in 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.