Wingstop (NASDAQ:WING) Now Covered by Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Wingstop (NASDAQ:WING) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $270.00 price target on the restaurant operator’s stock. Wells Fargo & Company‘s target price points to a potential upside of 22.68% from the stock’s previous close.

WING has been the subject of several other research reports. TD Securities cut their price target on Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Stifel Nicolaus decreased their price target on shares of Wingstop from $375.00 to $350.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Wedbush dropped their price objective on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Northcoast Research downgraded shares of Wingstop from a “buy” rating to a “neutral” rating in a report on Friday, February 21st. Finally, Raymond James reissued an “outperform” rating and set a $330.00 price objective (down from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $353.68.

Wingstop Stock Down 1.1 %

WING opened at $220.08 on Wednesday. Wingstop has a 52 week low of $205.60 and a 52 week high of $433.86. The firm has a 50-day simple moving average of $260.38 and a two-hundred day simple moving average of $315.24. The company has a market capitalization of $6.31 billion, a PE ratio of 59.32, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88.

Wingstop announced that its board has approved a share buyback plan on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Wingstop

Several institutional investors and hedge funds have recently bought and sold shares of WING. Wellington Management Group LLP lifted its holdings in shares of Wingstop by 3.4% during the 4th quarter. Wellington Management Group LLP now owns 238,942 shares of the restaurant operator’s stock valued at $67,907,000 after purchasing an additional 7,899 shares during the last quarter. 111 Capital purchased a new stake in shares of Wingstop during the fourth quarter worth about $296,000. Centaurus Financial Inc. increased its holdings in shares of Wingstop by 11.9% during the fourth quarter. Centaurus Financial Inc. now owns 4,148 shares of the restaurant operator’s stock valued at $1,179,000 after acquiring an additional 442 shares in the last quarter. Vise Technologies Inc. raised its position in shares of Wingstop by 57.1% in the 4th quarter. Vise Technologies Inc. now owns 949 shares of the restaurant operator’s stock valued at $270,000 after purchasing an additional 345 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Wingstop by 15.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,502 shares of the restaurant operator’s stock worth $24,868,000 after purchasing an additional 11,577 shares in the last quarter.

Wingstop Company Profile

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.