Wingstop (NASDAQ:WING) Price Target Raised to $102.00 at SunTrust Banks

Wingstop (NASDAQ:WING) had its price objective hoisted by SunTrust Banks to $102.00 in a report released on Friday morning, The Fly reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Other equities research analysts also recently issued research reports about the stock. Wedbush reaffirmed a hold rating and issued a $92.00 price objective on shares of Wingstop in a report on Friday. Wells Fargo & Co upped their price target on shares of Wingstop from $85.00 to $111.00 and gave the company an outperform rating in a report on Monday, July 22nd. BMO Capital Markets reissued an outperform rating and issued a $108.00 price target (up from $84.00) on shares of Wingstop in a report on Monday, June 24th. Goldman Sachs Group began coverage on shares of Wingstop in a report on Monday, July 29th. They issued a buy rating and a $135.00 price target for the company. Finally, BidaskClub downgraded shares of Wingstop from a strong-buy rating to a buy rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Wingstop currently has an average rating of Hold and a consensus target price of $89.93.

WING stock traded up $3.94 during trading on Friday, hitting $92.56. The company had a trading volume of 852,765 shares, compared to its average volume of 368,481. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 110.19, a price-to-earnings-growth ratio of 6.62 and a beta of 0.85. The firm has a 50 day moving average price of $94.32. Wingstop has a fifty-two week low of $55.00 and a fifty-two week high of $99.76.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Thursday, August 1st. The restaurant operator reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $48.56 million during the quarter, compared to the consensus estimate of $47.53 million. Wingstop had a net margin of 13.52% and a negative return on equity of 13.31%. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 earnings per share. Analysts anticipate that Wingstop will post 0.73 EPS for the current fiscal year.

In other Wingstop news, insider Lawrence Kruguer sold 1,466 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $79.72, for a total transaction of $116,869.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Charles R. Morrison sold 20,009 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $78.10, for a total value of $1,562,702.90. Following the sale, the chief executive officer now owns 123,007 shares in the company, valued at approximately $9,606,846.70. The disclosure for this sale can be found here. Insiders sold a total of 29,678 shares of company stock valued at $2,374,961 over the last three months. 1.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its holdings in Wingstop by 1.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 10,004 shares of the restaurant operator’s stock worth $947,000 after buying an additional 119 shares during the period. LS Investment Advisors LLC raised its holdings in Wingstop by 4.6% during the 1st quarter. LS Investment Advisors LLC now owns 2,963 shares of the restaurant operator’s stock worth $225,000 after buying an additional 130 shares during the period. Arizona State Retirement System raised its holdings in Wingstop by 0.3% during the 1st quarter. Arizona State Retirement System now owns 45,252 shares of the restaurant operator’s stock worth $3,441,000 after buying an additional 136 shares during the period. Envestnet Asset Management Inc. raised its holdings in Wingstop by 3.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,969 shares of the restaurant operator’s stock worth $471,000 after buying an additional 175 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its holdings in Wingstop by 2.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,770 shares of the restaurant operator’s stock worth $831,000 after buying an additional 180 shares during the period.

Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.

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Analyst Recommendations for Wingstop (NASDAQ:WING)

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