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

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

Several other analysts also recently commented on the stock. Stephens reaffirmed an “overweight” rating and issued a $450.00 price objective on shares of Wingstop in a report on Wednesday, February 19th. BMO Capital Markets decreased their target price on shares of Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a research report on Thursday, February 20th. Morgan Stanley cut their price target on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Guggenheim raised Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price objective for the company in a report on Monday, February 24th. Finally, TD Securities dropped their target price on Wingstop from $365.00 to $305.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Wingstop presently has an average rating of “Moderate Buy” and an average target price of $353.68.

Wingstop Stock Down 1.1 %

Wingstop stock opened at $220.08 on Wednesday. The stock has a 50-day moving average price of $260.38 and a 200 day moving average price of $315.24. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 59.32, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. Wingstop has a 52 week low of $205.60 and a 52 week high of $433.86.

Wingstop declared that its Board of Directors has authorized a stock buyback program on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Wingstop

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in Wingstop by 3.4% during the fourth quarter. Wellington Management Group LLP now owns 238,942 shares of the restaurant operator’s stock worth $67,907,000 after buying an additional 7,899 shares during the last quarter. 111 Capital purchased a new position in shares of Wingstop during the 4th quarter worth $296,000. Centaurus Financial Inc. boosted its position in shares of Wingstop by 11.9% during the 4th 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 during the last quarter. Vise Technologies Inc. grew its holdings in shares of Wingstop by 57.1% in the fourth 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Wingstop by 15.2% during the fourth 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 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.