Noodles & Company (NASDAQ:NDLS) Price Target Cut to $3.00

Noodles & Company (NASDAQ:NDLS) had its price target decreased by stock analysts at Benchmark from $4.00 to $3.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Benchmark’s price objective would suggest a potential upside of 114.29% from the stock’s current price.

Separately, StockNews.com lowered shares of Noodles & Company from a “hold” rating to a “sell” rating in a report on Friday, March 8th.

Noodles & Company Price Performance

Shares of Noodles & Company stock opened at $1.40 on Wednesday. The firm has a fifty day simple moving average of $1.97 and a 200-day simple moving average of $2.47. The company has a current ratio of 0.34, a quick ratio of 0.18 and a debt-to-equity ratio of 2.95. Noodles & Company has a 1-year low of $1.11 and a 1-year high of $5.00. The stock has a market capitalization of $62.99 million, a price-to-earnings ratio of -6.36 and a beta of 1.65.

Noodles & Company (NASDAQ:NDLS) last announced its earnings results on Thursday, March 7th. The restaurant operator reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). Noodles & Company had a negative return on equity of 13.20% and a negative net margin of 1.96%. The company had revenue of $124.32 million for the quarter, compared to the consensus estimate of $124.95 million. On average, sell-side analysts expect that Noodles & Company will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Mill Road Capital Management LLC boosted its stake in Noodles & Company by 0.3% during the 4th quarter. Mill Road Capital Management LLC now owns 6,965,291 shares of the restaurant operator’s stock worth $21,941,000 after acquiring an additional 19,700 shares during the last quarter. Sierra Summit Advisors LLC acquired a new stake in shares of Noodles & Company in the fourth quarter valued at approximately $443,000. Innovis Asset Management LLC raised its holdings in shares of Noodles & Company by 93.5% in the third quarter. Innovis Asset Management LLC now owns 118,731 shares of the restaurant operator’s stock valued at $292,000 after purchasing an additional 57,363 shares during the last quarter. Sapient Capital LLC bought a new position in shares of Noodles & Company in the fourth quarter valued at $301,000. Finally, Barclays PLC grew its stake in shares of Noodles & Company by 40.8% in the third quarter. Barclays PLC now owns 65,956 shares of the restaurant operator’s stock valued at $162,000 after buying an additional 19,127 shares in the last quarter. Institutional investors own 65.67% of the company’s stock.

About Noodles & Company

Noodles & Company, a restaurant concept company, develops and operates fast-casual restaurants. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. It operates company owned locations and franchise locations. The company was founded in 1995 and is based in Broomfield, Colorado.