Wendys (NASDAQ:WEN) had its target price upped by investment analysts at Credit Suisse Group from $21.00 to $22.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 6.54% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. BTIG Research cut shares of Wendys from a “buy” rating to a “neutral” rating in a report on Tuesday, September 10th. MKM Partners set a $20.00 price target on shares of Wendys and gave the company a “hold” rating in a report on Tuesday, September 10th. Morgan Stanley upped their price target on shares of Wendys from $19.00 to $22.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. BidaskClub cut shares of Wendys from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Goldman Sachs Group began coverage on shares of Wendys in a report on Monday, July 29th. They issued a “sell” rating and a $17.50 price target for the company. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.70.
Shares of NASDAQ WEN traded down $0.33 during trading on Thursday, reaching $20.65. The company had a trading volume of 3,309,900 shares, compared to its average volume of 3,322,713. Wendys has a 52 week low of $14.96 and a 52 week high of $22.84. The company has a debt-to-equity ratio of 5.67, a quick ratio of 1.96 and a current ratio of 1.97. The stock has a market cap of $4.81 billion, a PE ratio of 35.00, a PEG ratio of 3.00 and a beta of 0.67. The business’s 50 day moving average price is $20.76 and its 200-day moving average price is $19.83.
Wendys (NASDAQ:WEN) last issued its earnings results on Wednesday, November 6th. The restaurant operator reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.04. The firm had revenue of $437.88 million during the quarter, compared to the consensus estimate of $434.45 million. Wendys had a net margin of 28.88% and a return on equity of 23.16%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Equities analysts anticipate that Wendys will post 0.57 earnings per share for the current year.
In other Wendys news, Director Matthew H. Peltz sold 2,000,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $19.97, for a total value of $39,940,000.00. Following the completion of the sale, the director now owns 5,444,270 shares in the company, valued at $108,722,071.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.90, for a total transaction of $9,452,500.00. Following the completion of the sale, the insider now owns 5,444,270 shares of the company’s stock, valued at approximately $108,340,973. The disclosure for this sale can be found here. Insiders have sold 2,478,694 shares of company stock valued at $49,468,264 in the last 90 days. 20.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Tokio Marine Asset Management Co. Ltd. lifted its stake in Wendys by 2.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,800 shares of the restaurant operator’s stock valued at $476,000 after acquiring an additional 600 shares during the last quarter. Comerica Bank raised its position in shares of Wendys by 0.7% in the third quarter. Comerica Bank now owns 83,079 shares of the restaurant operator’s stock valued at $1,771,000 after purchasing an additional 604 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in shares of Wendys by 1.2% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 52,602 shares of the restaurant operator’s stock valued at $1,051,000 after purchasing an additional 624 shares during the period. Advisory Services Network LLC raised its position in shares of Wendys by 65.2% in the second quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 849 shares during the period. Finally, KG&L Capital Management LLC raised its position in shares of Wendys by 1.5% in the third quarter. KG&L Capital Management LLC now owns 58,850 shares of the restaurant operator’s stock valued at $1,175,000 after purchasing an additional 850 shares during the period. Hedge funds and other institutional investors own 76.34% of the company’s stock.
The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.
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