Barclays Lowers Wingstop (NASDAQ:WING) Price Target to $315.00

Wingstop (NASDAQ:WING) had its price target lowered by stock analysts at Barclays from $359.00 to $315.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. Barclays‘s target price would indicate a potential upside of 27.52% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. TD Cowen dropped their target price on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. The Goldman Sachs Group upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and dropped their target price for the company from $458.00 to $377.00 in a report on Friday, November 8th. Piper Sandler dropped their target price on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. TD Securities lowered their price target on Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Raymond James reaffirmed an “outperform” rating and issued a $330.00 price target (down previously from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $367.05.

Wingstop Stock Down 6.8 %

Shares of WING stock traded down $18.00 during mid-day trading on Thursday, reaching $247.02. 967,952 shares of the company’s stock traded hands, compared to its average volume of 696,942. Wingstop has a 12 month low of $243.03 and a 12 month high of $433.86. The company has a market cap of $7.22 billion, a P/E ratio of 72.02, a P/E/G ratio of 2.75 and a beta of 1.81. The company’s 50-day moving average price is $291.76 and its 200-day moving average price is $341.94.

Wingstop declared that its Board of Directors has authorized a share buyback program on Thursday, December 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the restaurant operator to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Raj Kapoor sold 266 shares of the company’s stock in a transaction dated 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 owns 266 shares of the company’s stock, valued at $86,285.08. This represents a 50.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Wingstop

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

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.