Research analysts at Mizuho started coverage on shares of Wendys (NASDAQ:WEN) in a report issued on Thursday. The firm set a “buy” rating and a $19.00 price target on the restaurant operator’s stock. Mizuho’s target price suggests a potential upside of 11.11% from the stock’s previous close.
WEN has been the subject of a number of other reports. Royal Bank of Canada reissued a “hold” rating and set a $18.00 price target on shares of Wendys in a research note on Friday, December 22nd. SunTrust Banks boosted their price target on shares of Wendys to $22.00 in a research note on Wednesday, January 3rd. Wedbush raised shares of Wendys from a “neutral” rating to an “outperform” rating and set a $20.00 price target for the company in a research note on Wednesday, December 20th. BidaskClub raised shares of Wendys from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Guggenheim raised shares of Wendys from a “neutral” rating to a “buy” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $17.48.
Wendys (NASDAQ WEN) opened at $17.10 on Thursday. The company has a debt-to-equity ratio of 4.75, a current ratio of 1.78 and a quick ratio of 1.77. The firm has a market cap of $4,067.65, a PE ratio of 21.92, a price-to-earnings-growth ratio of 1.85 and a beta of 0.81. Wendys has a 12 month low of $13.03 and a 12 month high of $17.66.
Wendys (NASDAQ:WEN) last posted its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01). The business had revenue of $309.25 million for the quarter. Wendys had a return on equity of 21.24% and a net margin of 15.86%. Wendys’s revenue was down .2% compared to the same quarter last year. During the same period last year, the business posted $0.08 earnings per share. sell-side analysts anticipate that Wendys will post 0.55 EPS for the current year.
Wendys announced that its Board of Directors has approved a stock buyback plan on Thursday, February 15th that permits the company to repurchase $175.00 million in shares. This repurchase authorization permits the restaurant operator to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, CFO Gunther Plosch purchased 5,000 shares of Wendys stock in a transaction dated Wednesday, March 7th. The stock was bought at an average price of $16.62 per share, for a total transaction of $83,100.00. Following the completion of the acquisition, the chief financial officer now directly owns 25,000 shares of the company’s stock, valued at $415,500. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Trian Partners Parallel Fund I sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $16.50, for a total transaction of $82,500,000.00. Following the completion of the transaction, the insider now owns 5,409,971 shares of the company’s stock, valued at approximately $89,264,521.50. The disclosure for this sale can be found here. 26.50% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in WEN. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Wendys by 50.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,248 shares of the restaurant operator’s stock valued at $185,000 after buying an additional 3,753 shares during the period. Boston Advisors LLC acquired a new position in shares of Wendys in the fourth quarter valued at approximately $199,000. First Commonwealth Financial Corp PA acquired a new position in shares of Wendys in the fourth quarter valued at approximately $205,000. State of Alaska Department of Revenue acquired a new position in shares of Wendys in the fourth quarter valued at approximately $220,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Wendys in the fourth quarter valued at approximately $234,000. Institutional investors own 80.57% of the company’s stock.
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Wendys Company Profile
The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.
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