MKM Partners Reiterates $20.00 Price Target for Wendys (NASDAQ:WEN)

Wendys (NASDAQ:WEN) has been assigned a $20.00 target price by investment analysts at MKM Partners in a report released on Tuesday, TipRanks reports. The firm presently has a “hold” rating on the restaurant operator’s stock. MKM Partners’ price objective would suggest a potential upside of 1.94% from the company’s current price.

WEN has been the topic of a number of other research reports. Goldman Sachs Group started coverage on shares of Wendys in a report on Monday, July 29th. They issued a “sell” rating and a $17.50 price target on the stock. Zacks Investment Research cut shares of Wendys from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a research report on Friday, August 23rd. Longbow Research reaffirmed a “buy” rating on shares of Wendys in a report on Wednesday, September 4th. BidaskClub lowered shares of Wendys from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Guggenheim cut Wendys from a “buy” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research note on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $20.83.

Shares of WEN stock traded down $0.09 on Tuesday, reaching $19.62. The company’s stock had a trading volume of 4,905,163 shares, compared to its average volume of 3,240,024. The company has a market capitalization of $4.52 billion, a P/E ratio of 33.25, a PEG ratio of 2.43 and a beta of 0.66. Wendys has a 12-month low of $14.96 and a 12-month high of $22.84. The stock’s 50 day simple moving average is $20.23 and its 200-day simple moving average is $18.92. The company has a quick ratio of 1.96, a current ratio of 1.97 and a debt-to-equity ratio of 5.67.

Wendys (NASDAQ:WEN) last posted its earnings results on Wednesday, August 7th. The restaurant operator reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The business had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $439.64 million. Wendys had a return on equity of 23.16% and a net margin of 28.88%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. Research analysts expect that Wendys will post 0.63 EPS for the current year.

In related news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of Wendys stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.90, for a total value of $9,452,500.00. Following the transaction, the insider now directly owns 5,444,270 shares of the company’s stock, valued at $108,340,973. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew H. Peltz sold 2,000,000 shares of Wendys stock in a transaction on Friday, August 16th. The stock was sold at an average price of $19.97, for a total transaction of $39,940,000.00. Following the completion of the transaction, the director now directly owns 5,444,270 shares in the company, valued at $108,722,071.90. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Coastal Capital Group Inc. purchased a new position in Wendys during the 2nd quarter valued at about $30,000. Coastal Investment Advisors Inc. raised its position in Wendys by 116.6% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock valued at $36,000 after purchasing an additional 978 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Wendys by 65.2% in the 2nd quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock worth $43,000 after buying an additional 849 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in Wendys in the 1st quarter worth approximately $58,000. Finally, Carroll Financial Associates Inc. lifted its holdings in Wendys by 226.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock worth $75,000 after buying an additional 2,658 shares during the period. Institutional investors own 77.94% of the company’s stock.

Wendys Company Profile

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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Analyst Recommendations for Wendys (NASDAQ:WEN)

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