Royal Bank of Canada upgraded shares of Noodles & Co (NASDAQ:NDLS) from a sector perform rating to an outperform rating in a research report report published on Monday morning, Marketbeat Ratings reports. They currently have $8.50 target price on the restaurant operator’s stock. The analysts noted that the move was a valuation call.
A number of other research analysts have also recently weighed in on the stock. ValuEngine cut shares of Noodles & Co from a buy rating to a hold rating in a research note on Saturday, December 1st. BidaskClub cut shares of Noodles & Co from a buy rating to a hold rating in a research note on Wednesday, November 28th. Piper Jaffray Companies upgraded shares of Noodles & Co from an underweight rating to a neutral rating and set a $10.00 target price on the stock in a research note on Thursday, November 8th. Citigroup dropped their target price on shares of Noodles & Co from $15.00 to $12.00 and set a buy rating on the stock in a research note on Tuesday, October 30th. Finally, Zacks Investment Research lowered shares of Noodles & Co from a strong-buy rating to a hold rating in a research report on Friday, October 26th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $11.64.
NDLS opened at $7.71 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.36 and a current ratio of 0.68. The stock has a market capitalization of $334.25 million, a price-to-earnings ratio of -385.50, a P/E/G ratio of 23.72 and a beta of -0.22. Noodles & Co has a twelve month low of $4.55 and a twelve month high of $13.50.
Noodles & Co (NASDAQ:NDLS) last released its earnings results on Tuesday, October 23rd. The restaurant operator reported $0.04 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.04. The firm had revenue of $116.70 million for the quarter, compared to analysts’ expectations of $114.80 million. Noodles & Co had a negative net margin of 1.96% and a positive return on equity of 2.23%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 earnings per share. As a group, research analysts anticipate that Noodles & Co will post 0.04 earnings per share for the current fiscal year.
In other news, EVP Melissa Heidman sold 5,924 shares of the business’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $13.00, for a total value of $77,012.00. Following the sale, the executive vice president now owns 31,019 shares of the company’s stock, valued at $403,247. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Catterton-Noodles, Llc sold 1,858,387 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $8.90, for a total transaction of $16,539,644.30. The disclosure for this sale can be found here. In the last three months, insiders sold 1,865,261 shares of company stock worth $16,629,006. Insiders own 50.52% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NDLS. Engineers Gate Manager LP bought a new stake in shares of Noodles & Co in the second quarter valued at approximately $350,000. EAM Investors LLC raised its position in shares of Noodles & Co by 99.7% in the second quarter. EAM Investors LLC now owns 184,690 shares of the restaurant operator’s stock valued at $2,272,000 after purchasing an additional 92,224 shares during the period. EAM Global Investors LLC bought a new stake in shares of Noodles & Co in the second quarter valued at approximately $1,460,000. Bank of New York Mellon Corp raised its position in shares of Noodles & Co by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 41,914 shares of the restaurant operator’s stock valued at $516,000 after purchasing an additional 5,700 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Noodles & Co by 382,908.3% in the second quarter. IFP Advisors Inc now owns 45,961 shares of the restaurant operator’s stock valued at $565,000 after purchasing an additional 45,949 shares during the period. 71.05% of the stock is currently owned by 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: Leveraged Buyout (LBO)
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