Piper Sandler Cuts Wingstop (NASDAQ:WING) Price Target to $70.00

Wingstop (NASDAQ:WING – Get Rating) had its price target reduced by Piper Sandler from $85.00 to $70.00 in a report released on Tuesday, The Fly reports. Piper Sandler currently has an underweight rating on the restaurant operator’s stock.

Several other analysts have also commented on WING. Deutsche Bank Aktiengesellschaft decreased their price target on Wingstop from $100.00 to $83.00 in a research note on Tuesday, May 24th. Barclays decreased their price target on Wingstop from $125.00 to $101.00 and set an overweight rating on the stock in a research note on Thursday, June 9th. Robert W. Baird decreased their price target on Wingstop from $145.00 to $120.00 in a research note on Thursday, May 5th. Northcoast Research raised Wingstop from a neutral rating to a buy rating in a research note on Wednesday, March 16th. Finally, Wedbush decreased their price target on Wingstop from $135.00 to $125.00 in a research note on Thursday, May 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wingstop presently has a consensus rating of Moderate Buy and a consensus price target of $137.59.

Shares of NASDAQ:WING opened at $80.64 on Tuesday. Wingstop has a 1-year low of $67.67 and a 1-year high of $187.35. The firm has a market capitalization of $2.41 billion, a PE ratio of 63.00, a PEG ratio of 4.46 and a beta of 1.42. The business’s 50 day moving average is $83.31 and its 200-day moving average is $122.88.

Wingstop (NASDAQ:WING – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The restaurant operator reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). Wingstop had a negative return on equity of 10.89% and a net margin of 13.25%. The firm had revenue of $76.20 million for the quarter, compared to analyst estimates of $86.16 million. During the same period in the previous year, the business posted $0.44 EPS. Wingstop’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Wingstop will post 1.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Friday, May 20th were issued a $0.17 dividend. The ex-dividend date was Thursday, May 19th. This represents a $0.68 dividend on an annualized basis and a yield of 0.84%. Wingstop’s dividend payout ratio is presently 53.13%.

Several institutional investors have recently made changes to their positions in WING. Pinebridge Investments L.P. bought a new stake in shares of Wingstop in the fourth quarter worth about $69,000. Fifth Third Bancorp increased its holdings in shares of Wingstop by 11.1% in the fourth quarter. Fifth Third Bancorp now owns 821 shares of the restaurant operator’s stock worth $142,000 after acquiring an additional 82 shares in the last quarter. Gladius Capital Management LP boosted its position in shares of Wingstop by 20.2% during the first quarter. Gladius Capital Management LP now owns 1,254 shares of the restaurant operator’s stock worth $148,000 after buying an additional 211 shares during the period. Lindbrook Capital LLC boosted its position in shares of Wingstop by 641.3% during the fourth quarter. Lindbrook Capital LLC now owns 897 shares of the restaurant operator’s stock worth $155,000 after buying an additional 776 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Wingstop during the first quarter worth about $164,000.

Wingstop Company Profile (Get Rating)

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide.

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