Wingstop (NASDAQ:WING) Given New $305.00 Price Target at TD Securities

Wingstop (NASDAQ:WING) had its price target reduced by stock analysts at TD Securities from $365.00 to $305.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. TD Securities’ price target would suggest a potential upside of 15.09% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. TD Cowen reduced their price target on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Stephens reaffirmed an “overweight” rating and set a $450.00 price target on shares of Wingstop in a report on Wednesday. Benchmark upgraded Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective for the company in a report on Thursday, October 31st. Morgan Stanley upgraded shares of Wingstop from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $385.00 to $389.00 in a research note on Tuesday, January 21st. Finally, Wedbush decreased their price objective on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a report on Thursday. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Wingstop presently has an average rating of “Moderate Buy” and a consensus price target of $378.68.

Wingstop Price Performance

WING opened at $265.02 on Thursday. The firm has a market cap of $7.74 billion, a PE ratio of 77.27, a P/E/G ratio of 2.75 and a beta of 1.81. Wingstop has a 1 year low of $258.50 and a 1 year high of $433.86. The stock has a 50-day moving average price of $291.76 and a 200-day moving average price of $341.94.

Wingstop declared that its board has authorized a share repurchase plan on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the restaurant operator to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the completion of the sale, the senior vice president now directly owns 266 shares of the company’s stock, valued at $86,285.08. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wingstop

Hedge funds and other institutional investors have recently modified their holdings of the stock. Verdence Capital Advisors LLC boosted its holdings in shares of Wingstop by 3.9% during the 4th quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator’s stock valued at $256,000 after purchasing an additional 34 shares during the last quarter. Hollencrest Capital Management boosted its stake in Wingstop by 53.8% during the third quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after buying an additional 35 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Wingstop by 0.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,523 shares of the restaurant operator’s stock valued at $4,794,000 after buying an additional 35 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 acquiring an additional 35 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of Wingstop by 34.9% during the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock valued at $41,000 after acquiring an additional 37 shares during the last quarter.

About Wingstop

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.