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

Noodles & Company (NASDAQ:NDLS) had its target price dropped by equities research analysts at Benchmark from $4.00 to $3.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Benchmark’s price target suggests a potential upside of 113.52% from the company’s previous close.

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

Noodles & Company Stock Up 8.1 %

Shares of NDLS opened at $1.41 on Wednesday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.18 and a current ratio of 0.34. The company’s 50-day moving average price is $1.93 and its 200 day moving average price is $2.46. Noodles & Company has a 12-month low of $1.11 and a 12-month high of $5.00.

Noodles & Company (NASDAQ:NDLS) last issued its quarterly 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). The business had revenue of $124.32 million for the quarter, compared to analysts’ expectations of $124.95 million. Noodles & Company had a negative return on equity of 13.20% and a negative net margin of 1.96%. Equities research analysts expect that Noodles & Company will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Noodles & Company

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its position in shares of Noodles & Company by 40.8% during the third quarter. Barclays PLC now owns 65,956 shares of the restaurant operator’s stock worth $162,000 after buying an additional 19,127 shares in the last quarter. Algert Global LLC boosted its holdings in Noodles & Company by 56.4% in the third quarter. Algert Global LLC now owns 60,510 shares of the restaurant operator’s stock valued at $149,000 after purchasing an additional 21,820 shares in the last quarter. Sapient Capital LLC acquired a new position in Noodles & Company in the fourth quarter valued at approximately $301,000. Innovis Asset Management LLC boosted its holdings in 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 in the last quarter. Finally, Valeo Financial Advisors LLC acquired a new position in Noodles & Company in the third quarter valued at approximately $29,000. 65.67% of the stock is owned by institutional investors and hedge funds.

Noodles & Company Company Profile

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.