Wingstop (NASDAQ:WING) PT Raised to $108.00 at Piper Jaffray Companies

Wingstop (NASDAQ:WING) had its price target boosted by Piper Jaffray Companies from $88.00 to $108.00 in a report released on Monday, The Fly reports. The brokerage currently has an overweight rating on the restaurant operator’s stock.

Other equities analysts have also issued reports about the stock. BidaskClub raised shares of Zai Lab from a sell rating to a hold rating in a research report on Wednesday, June 5th. BMO Capital Markets set a $45.00 target price on shares of Chemours and gave the stock a buy rating in a research report on Monday, June 24th. Stephens set a $53.00 target price on shares of Domtar and gave the stock a buy rating in a research report on Friday, June 28th. Stifel Nicolaus raised shares of Wingstop from a hold rating to a buy rating and raised their target price for the stock from $80.00 to $92.00 in a research report on Monday, June 3rd. Finally, Zacks Investment Research lowered shares of Yatra Online from a hold rating to a sell rating in a research report on Saturday, July 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and an average price target of $79.87.

Shares of NASDAQ:WING opened at $96.03 on Monday. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 114.32, a PEG ratio of 6.55 and a beta of 0.85. The stock’s 50 day moving average is $91.54. Wingstop has a one year low of $47.83 and a one year high of $98.60.

Wingstop (NASDAQ:WING) last issued its earnings results on Tuesday, May 7th. The restaurant operator reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $48.05 million for the quarter, compared to analyst estimates of $45.68 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 28.5% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. Equities research analysts forecast that Wingstop will post 0.74 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.37%. Wingstop’s dividend payout ratio is presently 42.86%.

In other news, Director Michael J. Hislop sold 5,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $89.05, for a total transaction of $445,250.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Madison Jobe sold 2,823 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $77.98, for a total transaction of $220,137.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,678 shares of company stock worth $2,374,961. Insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in Wingstop by 16.1% in the fourth quarter. Bank of America Corp DE now owns 171,701 shares of the restaurant operator’s stock valued at $11,022,000 after acquiring an additional 23,781 shares in the last quarter. Mason Street Advisors LLC boosted its stake in Wingstop by 3.6% in the first quarter. Mason Street Advisors LLC now owns 9,421 shares of the restaurant operator’s stock valued at $716,000 after acquiring an additional 323 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Wingstop by 44.3% in the first quarter. Wells Fargo & Company MN now owns 542,169 shares of the restaurant operator’s stock valued at $41,221,000 after acquiring an additional 166,571 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Wingstop by 334.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,933 shares of the restaurant operator’s stock valued at $573,000 after acquiring an additional 6,875 shares in the last quarter. Finally, Columbus Circle Investors acquired a new stake in Wingstop in the first quarter valued at approximately $1,537,000.

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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