Wingstop (NASDAQ:WING) Price Target Cut to $280.00 by Analysts at TD Cowen

Wingstop (NASDAQ:WING) had its price target trimmed by TD Cowen from $320.00 to $280.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

WING has been the subject of several other reports. Wedbush restated an “outperform” rating on shares of Wingstop in a research report on Wednesday, September 17th. Royal Bank Of Canada initiated coverage on shares of Wingstop in a research report on Wednesday, October 8th. They set an “outperform” rating and a $315.00 price target for the company. The Goldman Sachs Group cut their price target on shares of Wingstop from $430.00 to $370.00 and set a “buy” rating for the company in a research report on Tuesday, September 30th. William Blair initiated coverage on shares of Wingstop in a research report on Wednesday, July 9th. They set an “outperform” rating for the company. Finally, UBS Group restated a “neutral” rating and set a $295.00 price target on shares of Wingstop in a research report on Tuesday, October 28th. Five analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Wingstop has an average rating of “Moderate Buy” and a consensus target price of $335.96.

Wingstop Stock Performance

Shares of NASDAQ:WING opened at $252.84 on Wednesday. Wingstop has a 52-week low of $204.00 and a 52-week high of $388.14. The firm has a fifty day moving average of $263.67 and a 200 day moving average of $300.74. The firm has a market capitalization of $7.06 billion, a PE ratio of 41.18, a price-to-earnings-growth ratio of 3.32 and a beta of 1.73.

Wingstop (NASDAQ:WING) last announced its earnings results on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.18. Wingstop had a net margin of 25.51% and a negative return on equity of 16.17%. The company had revenue of $175.74 million during the quarter, compared to analyst estimates of $189.10 million. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts forecast that Wingstop will post 4.18 EPS for the current fiscal year.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, November 21st. Wingstop’s dividend payout ratio is 19.54%.

Hedge Funds Weigh In On Wingstop

Institutional investors have recently bought and sold shares of the stock. Cornerstone Planning Group LLC raised its stake in Wingstop by 1,650.0% in the third quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock worth $26,000 after buying an additional 99 shares in the last quarter. Signaturefd LLC raised its stake in Wingstop by 106.9% in the first quarter. Signaturefd LLC now owns 149 shares of the restaurant operator’s stock worth $34,000 after buying an additional 77 shares in the last quarter. Quaker Wealth Management LLC raised its stake in Wingstop by 134.2% in the second quarter. Quaker Wealth Management LLC now owns 104 shares of the restaurant operator’s stock worth $35,000 after buying an additional 408 shares in the last quarter. Ameriflex Group Inc. bought a new position in Wingstop in the second quarter worth about $43,000. Finally, Hantz Financial Services Inc. raised its stake in Wingstop by 4,200.0% in the second quarter. Hantz Financial Services Inc. now owns 129 shares of the restaurant operator’s stock worth $43,000 after buying an additional 126 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.