Wingstop (NASDAQ:WING) Price Target Lowered to $305.00 at TD Securities

Wingstop (NASDAQ:WING) had its price target decreased by equities researchers at TD Securities from $365.00 to $305.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. TD Securities’ price target points to a potential upside of 15.09% from the company’s previous close.

Several other brokerages have also issued reports on WING. Morgan Stanley upgraded shares of Wingstop from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $385.00 to $389.00 in a research report on Tuesday, January 21st. The Goldman Sachs Group upgraded Wingstop from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $458.00 to $377.00 in a report on Friday, November 8th. Stephens reissued an “overweight” rating and set a $450.00 price objective on shares of Wingstop in a report on Wednesday. TD Cowen cut their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Raymond James restated an “outperform” rating and issued a $330.00 price objective (down from $375.00) on shares of Wingstop in a report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.68.

Wingstop Price Performance

NASDAQ WING opened at $265.02 on Thursday. The company’s 50 day simple moving average is $291.76 and its two-hundred day simple moving average is $341.94. The stock has a market capitalization of $7.74 billion, a PE ratio of 77.27, a P/E/G ratio of 2.75 and a beta of 1.81. Wingstop has a 1 year low of $258.50 and a 1 year high of $433.86.

Wingstop announced that its board has approved a stock buyback program on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the completion of the sale, the senior vice president now directly owns 266 shares in the company, valued at $86,285.08. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WING. Blue Trust Inc. boosted its position in shares of Wingstop by 384.6% during the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 100 shares in the last quarter. Raymond James & Associates lifted its position in Wingstop by 104.0% during the third quarter. Raymond James & Associates now owns 49,908 shares of the restaurant operator’s stock valued at $20,766,000 after buying an additional 25,440 shares during the period. International Assets Investment Management LLC grew its position in shares of Wingstop by 41,244.9% in the 3rd quarter. International Assets Investment Management LLC now owns 65,325 shares of the restaurant operator’s stock worth $27,180,000 after buying an additional 65,167 shares during the period. NorthCrest Asset Manangement LLC increased its stake in shares of Wingstop by 5.7% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 5,941 shares of the restaurant operator’s stock worth $2,472,000 after acquiring an additional 322 shares in the last quarter. Finally, Arkadios Wealth Advisors bought a new position in shares of Wingstop in the 3rd quarter worth about $224,000.

Wingstop Company Profile

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.