Wendy’s (NASDAQ:WEN) PT Raised to $21.00

Wendy’s (NASDAQ:WEN) had its price objective increased by analysts at Wedbush from $20.00 to $21.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s target price indicates a potential upside of 5.32% from the stock’s current price. Wedbush also issued estimates for Wendy’s’ Q3 2024 earnings at $0.27 EPS, Q4 2024 earnings at $0.22 EPS, Q2 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.31 EPS, Q4 2025 earnings at $0.25 EPS and FY2025 earnings at $1.11 EPS.

A number of other brokerages have also issued reports on WEN. Truist Financial decreased their target price on Wendy’s from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Royal Bank of Canada decreased their target price on Wendy’s from $22.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 20th. Sanford C. Bernstein lowered Wendy’s from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $24.00 to $20.00 in a research report on Thursday, February 22nd. Gordon Haskett lowered Wendy’s from a “buy” rating to a “hold” rating and set a $21.00 target price on the stock. in a research report on Tuesday, January 16th. Finally, Stephens reiterated an “equal weight” rating and set a $20.00 target price on shares of Wendy’s in a research report on Thursday. Fourteen analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Wendy’s has a consensus rating of “Hold” and an average target price of $22.60.

Wendy’s Trading Up 0.1 %

Wendy’s stock opened at $19.94 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.18 and a debt-to-equity ratio of 11.21. Wendy’s has a 12 month low of $17.64 and a 12 month high of $23.90. The stock’s 50 day simple moving average is $18.80 and its two-hundred day simple moving average is $19.05. The firm has a market cap of $4.09 billion, a PE ratio of 20.35, a P/E/G ratio of 2.00 and a beta of 0.78.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. Wendy’s had a return on equity of 62.68% and a net margin of 9.44%. The business had revenue of $534.80 million for the quarter, compared to analyst estimates of $540.84 million. During the same quarter in the prior year, the firm posted $0.21 EPS. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Analysts anticipate that Wendy’s will post 0.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kenneth W. Gilbert sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $18.07, for a total transaction of $81,315.00. Following the completion of the sale, the director now directly owns 31,304 shares of the company’s stock, valued at approximately $565,663.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Wendy’s

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Resource Council acquired a new stake in shares of Wendy’s during the 4th quarter worth about $372,000. Highlander Capital Management LLC boosted its holdings in Wendy’s by 250.0% during the 4th quarter. Highlander Capital Management LLC now owns 1,400 shares of the restaurant operator’s stock valued at $27,000 after acquiring an additional 1,000 shares during the period. AQR Capital Management LLC boosted its holdings in Wendy’s by 193.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,277,958 shares of the restaurant operator’s stock valued at $26,083,000 after acquiring an additional 842,856 shares during the period. Citigroup Inc. boosted its holdings in Wendy’s by 484.0% during the 3rd quarter. Citigroup Inc. now owns 209,718 shares of the restaurant operator’s stock valued at $4,280,000 after acquiring an additional 173,805 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Wendy’s by 6.1% during the 3rd quarter. Vanguard Group Inc. now owns 20,248,412 shares of the restaurant operator’s stock valued at $413,270,000 after acquiring an additional 1,162,540 shares during the period. 85.96% of the stock is owned by institutional investors and hedge funds.

Wendy’s Company Profile

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.