Wingstop (NASDAQ:WING) had its target price raised by Morgan Stanley from $50.00 to $52.00 in a research note published on Monday, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the restaurant operator’s stock.
Several other research analysts have also weighed in on WING. Deutsche Bank initiated coverage on shares of Wingstop in a research note on Monday, December 18th. They set a hold rating and a $38.00 target price for the company. BidaskClub lowered shares of Wingstop from a buy rating to a hold rating in a research note on Thursday, December 21st. Jefferies Group lowered shares of Wingstop from a hold rating to an underperform rating and increased their target price for the stock from $29.00 to $34.00 in a research note on Friday, December 22nd. Robert W. Baird reaffirmed a buy rating and set a $49.00 target price on shares of Wingstop in a research note on Wednesday, January 3rd. Finally, SunTrust Banks reaffirmed a buy rating and set a $50.00 target price on shares of Wingstop in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $47.15.
Shares of WING opened at $50.83 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of -2.69. Wingstop has a 12-month low of $27.78 and a 12-month high of $52.00. The stock has a market capitalization of $1,493.39, a P/E ratio of 68.69, a PEG ratio of 3.44 and a beta of 0.90.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $0.28 annualized dividend and a dividend yield of 0.55%. Wingstop’s dividend payout ratio is presently 28.38%.
In other news, insider Flynn Dekker sold 10,000 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $45.60, for a total transaction of $456,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Charles R. Morrison sold 1,476 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $48.13, for a total transaction of $71,039.88. The disclosure for this sale can be found here. Insiders have sold 41,120 shares of company stock worth $1,951,212 in the last three months. Corporate insiders own 1.76% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC acquired a new stake in shares of Wingstop during the fourth quarter worth about $541,000. PEAK6 Investments L.P. acquired a new stake in shares of Wingstop during the fourth quarter worth about $550,000. Meadow Creek Investment Management LLC lifted its position in shares of Wingstop by 25.7% during the fourth quarter. Meadow Creek Investment Management LLC now owns 5,984 shares of the restaurant operator’s stock worth $233,000 after purchasing an additional 1,224 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Wingstop by 10.6% during the fourth quarter. TIAA CREF Investment Management LLC now owns 601,328 shares of the restaurant operator’s stock worth $23,440,000 after purchasing an additional 57,679 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Wingstop during the fourth quarter worth about $335,000.
Wingstop Company Profile
Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company. As of December 31, 2016, the Company offers its guests 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides.
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