Noodles & Co (NDLS) Upgraded to Neutral by Piper Jaffray Companies

Piper Jaffray Companies upgraded shares of Noodles & Co (NASDAQ:NDLS) from an underweight rating to a neutral rating in a report issued on Thursday, Marketbeat.com reports. They currently have $10.00 price objective on the restaurant operator’s stock.

Several other analysts also recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Noodles & Co from $10.00 to $11.00 and gave the stock a market perform rating in a research note on Wednesday, October 24th. ValuEngine downgraded shares of Noodles & Co from a strong-buy rating to a buy rating in a research note on Friday, September 7th. SunTrust Banks raised shares of Noodles & Co from a hold rating to a buy rating and boosted their price target for the stock from $11.00 to $15.00 in a research note on Tuesday, October 16th. BidaskClub downgraded shares of Noodles & Co from a strong-buy rating to a buy rating in a research note on Friday, October 5th. Finally, Citigroup lowered their price target on shares of Noodles & Co from $13.50 to $11.50 and set a buy rating for the company in a research note on Wednesday, August 8th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $11.71.

Noodles & Co stock traded up $0.25 during mid-day trading on Thursday, hitting $9.57. The company’s stock had a trading volume of 434,089 shares, compared to its average volume of 340,951. The company has a quick ratio of 0.36, a current ratio of 0.68 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $421.21 million, a PE ratio of -478.50, a P/E/G ratio of 29.89 and a beta of -0.21. Noodles & Co has a 12 month low of $4.10 and a 12 month high of $13.50.

Noodles & Co (NASDAQ:NDLS) last posted its quarterly earnings results on Tuesday, October 23rd. The restaurant operator reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $116.70 million during the quarter, compared to the consensus estimate of $114.80 million. Noodles & Co had a negative net margin of 1.96% and a positive return on equity of 2.23%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 earnings per share. As a group, equities analysts expect that Noodles & Co will post 0.04 earnings per share for the current fiscal year.

In other news, Director Robert M. Hartnett sold 9,652 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $11.51, for a total transaction of $111,094.52. Following the completion of the transaction, the director now directly owns 96,606 shares of the company’s stock, valued at $1,111,935.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David James Boennighausen sold 43,096 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $11.52, for a total transaction of $496,465.92. Following the transaction, the chief executive officer now directly owns 118,261 shares of the company’s stock, valued at $1,362,366.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,937 shares of company stock valued at $748,702. Insiders own 50.52% of the company’s stock.

Large investors have recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of Noodles & Co during the second quarter valued at about $175,000. Solstein Capital LLC bought a new position in shares of Noodles & Co during the second quarter valued at about $197,000. Macquarie Group Ltd. bought a new position in shares of Noodles & Co during the second quarter valued at about $200,000. Dimensional Fund Advisors LP purchased a new position in shares of Noodles & Co during the second quarter valued at about $250,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Noodles & Co during the second quarter valued at about $300,000. 61.17% 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.

Further Reading: The Discount Rate – What You Need to Know

Analyst Recommendations for Noodles & Co (NASDAQ:NDLS)

Receive News & Ratings for Noodles & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noodles & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply