Royal Bank Of Canada Forecasts Strong Price Appreciation for Wingstop (NASDAQ:WING) Stock

Wingstop (NASDAQ:WING) had its price target increased by Royal Bank Of Canada from $300.00 to $350.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 41.53% from the stock’s previous close.

WING has been the subject of several other research reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $350.00 target price (down previously from $420.00) on shares of Wingstop in a research note on Thursday, October 16th. Wells Fargo & Company decreased their price objective on shares of Wingstop from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. UBS Group reiterated a “neutral” rating and issued a $295.00 target price on shares of Wingstop in a report on Tuesday, October 28th. Morgan Stanley reissued an “overweight” rating and issued a $363.00 target price on shares of Wingstop in a research report on Tuesday, November 4th. Finally, Wedbush restated an “outperform” rating on shares of Wingstop in a research note on Wednesday, September 17th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $337.81.

Wingstop Stock Down 0.1%

NASDAQ:WING opened at $247.30 on Tuesday. Wingstop has a 52 week low of $204.00 and a 52 week high of $388.14. The stock’s fifty day moving average is $247.81 and its two-hundred day moving average is $296.40. The company has a market capitalization of $6.87 billion, a P/E ratio of 40.28, a P/E/G ratio of 3.41 and a beta of 1.75.

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

Insider Buying and Selling at Wingstop

In other news, Director Kilandigalu Madati sold 269 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $259.97, for a total value of $69,931.93. Following the sale, the director directly owned 5,283 shares in the company, valued at approximately $1,373,421.51. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Wingstop by 8.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 220,614 shares of the restaurant operator’s stock valued at $49,766,000 after buying an additional 16,373 shares during the period. National Bank of Canada FI purchased a new stake in shares of Wingstop during the first quarter worth approximately $70,000. King Luther Capital Management Corp raised its holdings in Wingstop by 7.3% in the first quarter. King Luther Capital Management Corp now owns 18,690 shares of the restaurant operator’s stock valued at $4,216,000 after acquiring an additional 1,266 shares in the last quarter. Nuveen LLC acquired a new stake in Wingstop in the first quarter valued at approximately $36,393,000. Finally, Motley Fool Asset Management LLC purchased a new position in Wingstop in the first quarter worth approximately $1,220,000.

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.