Noodles & Company (NASDAQ:NDLS) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Noodles & Company (NASDAQ:NDLS – Get Rating) from a buy rating to a hold rating in a report published on Monday morning.

A number of other research firms also recently weighed in on NDLS. Stephens downgraded Noodles & Company from an overweight rating to an equal weight rating and decreased their price objective for the company from $7.00 to $5.00 in a report on Friday, May 19th. Benchmark reiterated a buy rating and issued a $10.00 price target on shares of Noodles & Company in a research report on Thursday, March 9th. Truist Financial dropped their price objective on Noodles & Company from $9.00 to $8.00 in a research note on Thursday, May 11th. Finally, TheStreet downgraded shares of Noodles & Company from a c- rating to a d rating in a research note on Thursday, May 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $7.25.

Noodles & Company Price Performance

Shares of NASDAQ:NDLS opened at $3.21 on Monday. The business’s 50 day moving average is $4.60 and its 200-day moving average is $5.35. The company has a current ratio of 0.31, a quick ratio of 0.16 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $148.82 million, a PE ratio of -322,000.00 and a beta of 1.48. Noodles & Company has a 1-year low of $3.12 and a 1-year high of $6.78.

Noodles & Company (NASDAQ:NDLS – Get Rating) last announced its quarterly earnings results on Wednesday, March 8th. The restaurant operator reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $136.47 million during the quarter, compared to the consensus estimate of $135.98 million. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) EPS. Sell-side analysts predict that Noodles & Company will post 0.17 earnings per share for the current year.

Insider Transactions at Noodles & Company

In other Noodles & Company news, major shareholder Mill Road Capital Iii, L.P. purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The stock was purchased at an average cost of $4.64 per share, with a total value of $464,000.00. Following the acquisition, the insider now directly owns 1,121,971 shares of the company’s stock, valued at approximately $5,205,945.44. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders have acquired 216,272 shares of company stock valued at $1,003,008 in the last three months. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Noodles & Company

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC lifted its position in shares of Noodles & Company by 15.3% during the first quarter. MetLife Investment Management LLC now owns 14,584 shares of the restaurant operator’s stock worth $87,000 after purchasing an additional 1,937 shares in the last quarter. Creative Planning lifted its holdings in Noodles & Company by 2.6% during the 3rd quarter. Creative Planning now owns 79,030 shares of the restaurant operator’s stock worth $371,000 after buying an additional 2,030 shares in the last quarter. Bank of America Corp DE boosted its position in Noodles & Company by 10.5% in the 4th quarter. Bank of America Corp DE now owns 29,894 shares of the restaurant operator’s stock valued at $164,000 after buying an additional 2,843 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Noodles & Company by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 109,125 shares of the restaurant operator’s stock valued at $599,000 after buying an additional 2,999 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Noodles & Company by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,216 shares of the restaurant operator’s stock valued at $35,000 after buying an additional 3,019 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

About Noodles & Company

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Noodles & Co engages in the business of development and operation of fast-casual restaurants that serve noodle and pasta dishes, soups, salads, and appetizers. The firm also offers pleasant dining, pick-up, and delivery experiences by quickly preparing fresh food with friendly service. The company was founded by Aaron Kennedy in 1995 and is headquartered in Broomfield, CO.