Barclays Has Lowered Expectations for Wingstop (NASDAQ:WING) Stock Price

Wingstop (NASDAQ:WING) had its target price cut by Barclays from $359.00 to $315.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

Other equities research analysts have also issued reports about the stock. Stephens reiterated an “overweight” rating and set a $450.00 price target on shares of Wingstop in a report on Wednesday. TD Securities lowered their price target on shares of Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley lowered their price target on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a report on Thursday. The Goldman Sachs Group upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and lowered their price target for the company from $458.00 to $377.00 in a report on Friday, November 8th. Finally, BMO Capital Markets reduced their price objective on shares of Wingstop from $335.00 to $300.00 and set a “market perform” rating on the stock in a research report on Thursday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $367.05.

Wingstop Stock Down 6.8 %

NASDAQ:WING opened at $247.09 on Thursday. The company has a fifty day moving average of $290.24 and a 200 day moving average of $341.28. Wingstop has a 52 week low of $242.58 and a 52 week high of $433.86. The firm has a market capitalization of $7.22 billion, a P/E ratio of 72.04, a P/E/G ratio of 2.75 and a beta of 1.81.

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.27 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.44%. Wingstop’s dividend payout ratio (DPR) is 31.49%.

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

Insider Transactions at Wingstop

In other news, SVP Raj Kapoor sold 266 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was 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 represents a 50.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wingstop

Hedge funds and other institutional investors have recently modified their holdings of the stock. True Wealth Design LLC purchased a new stake in shares of Wingstop in the 3rd quarter worth $36,000. EverSource Wealth Advisors LLC increased its stake in Wingstop by 521.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock worth $25,000 after buying an additional 73 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its stake in Wingstop by 62.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after buying an additional 35 shares in the last quarter. Hollencrest Capital Management increased its stake in Wingstop by 53.8% in the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock worth $42,000 after buying an additional 35 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Wingstop in the 4th quarter worth $30,000.

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.