Noodles & Co (NDLS) Downgraded by ValuEngine

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Noodles & Co (NASDAQ:NDLS) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

A number of other equities research analysts have also weighed in on NDLS. BidaskClub upgraded shares of Noodles & Co from a “hold” rating to a “buy” rating in a research note on Friday, August 24th. Zacks Investment Research raised shares of Noodles & Co from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Sunday, July 15th. Citigroup boosted their price objective on shares of Noodles & Co from $9.00 to $13.50 and gave the company a “buy” rating in a research report on Thursday, June 21st. BMO Capital Markets boosted their price objective on shares of Noodles & Co from $6.00 to $10.00 and gave the company a “market perform” rating in a research report on Thursday, July 19th. They noted that the move was a valuation call. Finally, UBS Group boosted their price objective on shares of Noodles & Co from $4.00 to $10.00 and gave the company a “$11.80” rating in a research report on Thursday, July 19th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $10.08.

Shares of NDLS opened at $12.00 on Friday. The firm has a market cap of $507.97 million, a price-to-earnings ratio of -600.00, a P/E/G ratio of 40.16 and a beta of -0.60. The company has a quick ratio of 0.29, a current ratio of 0.52 and a debt-to-equity ratio of 2.40. Noodles & Co has a 1-year low of $3.95 and a 1-year high of $13.30.

Noodles & Co (NASDAQ:NDLS) last announced its earnings results on Wednesday, July 18th. The restaurant operator reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $117.40 million for the quarter, compared to analysts’ expectations of $114.16 million. Noodles & Co had a negative net margin of 4.03% and a negative return on equity of 0.45%. Noodles & Co’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. sell-side analysts expect that Noodles & Co will post 0.04 earnings per share for the current year.

In other news, EVP Melissa Heidman sold 4,315 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $12.00, for a total transaction of $51,780.00. Following the completion of the sale, the executive vice president now owns 24,740 shares of the company’s stock, valued at approximately $296,880. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert M. Hartnett sold 9,652 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $11.51, for a total transaction of $111,094.52. Following the sale, the director now directly owns 96,606 shares of the company’s stock, valued at approximately $1,111,935.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,448,909 shares of company stock valued at $34,384,069. Insiders own 50.52% of the company’s stock.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in Noodles & Co by 13.4% in the 2nd quarter. BlackRock Inc. now owns 941,665 shares of the restaurant operator’s stock worth $11,583,000 after buying an additional 111,105 shares during the period. Tenzing Global Management LLC boosted its holdings in Noodles & Co by 78.3% in the 2nd quarter. Tenzing Global Management LLC now owns 835,000 shares of the restaurant operator’s stock worth $10,271,000 after buying an additional 366,588 shares during the period. Eidelman Virant Capital boosted its holdings in Noodles & Co by 9.4% in the 2nd quarter. Eidelman Virant Capital now owns 715,291 shares of the restaurant operator’s stock worth $8,798,000 after buying an additional 61,291 shares during the period. Russell Investments Group Ltd. boosted its holdings in Noodles & Co by 3.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 314,179 shares of the restaurant operator’s stock worth $3,864,000 after buying an additional 10,767 shares during the period. Finally, Intrinsic Edge Capital Management LLC bought a new position in Noodles & Co in the 2nd quarter worth $2,460,000. 61.83% of the stock is owned by hedge funds and other institutional investors.

About Noodles & Co

Noodles & Company develops and operates fast casual restaurants in the United States. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches, and appetizers. As of January 2, 2018, the company operated 412 company-owned and 66 franchised restaurants in 29 states, the District of Columbia.

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