Barclays Lowers Wingstop (NASDAQ:WING) Price Target to $315.00

Wingstop (NASDAQ:WING) had its price objective reduced by equities research analysts at Barclays from $359.00 to $315.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. Barclays‘s price objective would suggest a potential upside of 27.52% from the company’s previous close.

Several other analysts also recently commented on the stock. Piper Sandler lowered their target price on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a report on Monday, November 4th. BMO Capital Markets reduced their price target on shares of Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a research report on Thursday. Northcoast Research upgraded shares of 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. BTIG Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target for the company in a research report on Thursday, October 31st. Finally, Stephens restated an “overweight” rating and set a $450.00 price target on shares of Wingstop in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $367.05.

Wingstop Price Performance

Shares of WING stock traded down $18.00 on Thursday, hitting $247.02. The stock had a trading volume of 967,952 shares, compared to its average volume of 696,942. The business has a 50 day moving average of $291.76 and a 200 day moving average of $341.94. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 72.02, a price-to-earnings-growth ratio of 2.75 and a beta of 1.81. Wingstop has a 12-month low of $243.03 and a 12-month high of $433.86.

Wingstop declared that its board has approved a share repurchase plan on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the restaurant operator to purchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, SVP Raj Kapoor sold 266 shares of the firm’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 of the company’s stock, valued at $86,285.08. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wingstop

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised its stake in Wingstop by 1.9% in the fourth quarter. American Century Companies Inc. now owns 1,206,062 shares of the restaurant operator’s stock valued at $342,763,000 after purchasing an additional 22,552 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Wingstop by 29.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,150,217 shares of the restaurant operator’s stock valued at $326,893,000 after purchasing an additional 262,229 shares in the last quarter. State Street Corp raised its stake in Wingstop by 1.5% in the third quarter. State Street Corp now owns 861,783 shares of the restaurant operator’s stock valued at $358,571,000 after purchasing an additional 12,549 shares in the last quarter. Franklin Resources Inc. raised its stake in Wingstop by 0.9% in the third quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator’s stock valued at $326,020,000 after purchasing an additional 7,204 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Wingstop by 23.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 801,732 shares of the restaurant operator’s stock valued at $227,852,000 after purchasing an additional 154,055 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.