Wingstop (NASDAQ:WING) Given New $315.00 Price Target at Morgan Stanley

Wingstop (NASDAQ:WING) had its price objective raised by stock analysts at Morgan Stanley from $280.00 to $315.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s target price would suggest a potential downside of 13.73% from the stock’s current price.

Several other equities research analysts also recently issued reports on WING. Wedbush raised their price objective on shares of Wingstop from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Robert W. Baird upped their target price on Wingstop from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Truist Financial reiterated a “hold” rating and set a $292.00 price target on shares of Wingstop in a research note on Monday, April 1st. TD Cowen reaffirmed a “buy” rating and set a $410.00 price objective on shares of Wingstop in a report on Wednesday. Finally, BMO Capital Markets increased their price objective on Wingstop from $235.00 to $275.00 and gave the stock a “market perform” rating in a research note on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wingstop currently has an average rating of “Hold” and an average target price of $271.83.

Wingstop Price Performance

Wingstop stock opened at $365.15 on Friday. Wingstop has a fifty-two week low of $150.08 and a fifty-two week high of $379.00. The firm has a fifty day moving average price of $341.81 and a two-hundred day moving average price of $268.77. The firm has a market cap of $10.72 billion, a price-to-earnings ratio of 155.38, a P/E/G ratio of 6.52 and a beta of 1.68.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $127.06 million during the quarter, compared to analysts’ expectations of $120.47 million. Wingstop had a negative return on equity of 17.66% and a net margin of 15.25%. The firm’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS. As a group, sell-side analysts expect that Wingstop will post 3 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kilandigalu Madati sold 1,472 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $339.87, for a total transaction of $500,288.64. Following the completion of the sale, the director now directly owns 5,450 shares of the company’s stock, valued at $1,852,291.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Marisa Carona sold 2,586 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $371.96, for a total transaction of $961,888.56. Following the completion of the transaction, the senior vice president now directly owns 1,646 shares in the company, valued at approximately $612,246.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kilandigalu Madati sold 1,472 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $339.87, for a total transaction of $500,288.64. Following the completion of the sale, the director now owns 5,450 shares in the company, valued at $1,852,291.50. The disclosure for this sale can be found here. Insiders sold a total of 14,901 shares of company stock worth $5,120,605 over the last three months. 0.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. grew its holdings in shares of Wingstop by 1,176.9% in the 4th quarter. Alliancebernstein L.P. now owns 899,336 shares of the restaurant operator’s stock valued at $123,767,000 after buying an additional 828,904 shares during the period. Franklin Resources Inc. raised its stake in Wingstop by 155.7% during the 4th quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock worth $224,093,000 after buying an additional 531,880 shares during the period. 1832 Asset Management L.P. bought a new position in Wingstop during the fourth quarter worth about $61,571,000. Artisan Partners Limited Partnership grew its stake in Wingstop by 64.3% in the third quarter. Artisan Partners Limited Partnership now owns 1,079,939 shares of the restaurant operator’s stock valued at $194,216,000 after acquiring an additional 422,727 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Wingstop in the fourth quarter worth about $103,899,000.

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.