Equities researchers at Mizuho assumed coverage on shares of Wendys (NASDAQ:WEN) in a note issued to investors on Thursday, March 15th. The brokerage 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 11.63% from the stock’s previous close.
WEN has been the topic of a number of other reports. Royal Bank of Canada reiterated a “hold” rating and issued a $18.00 target price on shares of Wendys in a research note on Friday, December 22nd. SunTrust Banks raised their target price on shares of Wendys to $22.00 in a research note on Wednesday, January 3rd. Guggenheim raised shares of Wendys from a “neutral” rating to a “buy” rating in a report on Friday, February 16th. 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 report on Wednesday, December 20th. Finally, BidaskClub raised shares of Wendys from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Wendys has an average rating of “Hold” and an average price target of $17.48.
Wendys stock traded down $0.36 during trading hours on Thursday, hitting $17.02. The company had a trading volume of 2,799,210 shares, compared to its average volume of 3,103,545. Wendys has a fifty-two week low of $13.38 and a fifty-two week high of $17.70. The firm has a market cap of $4,074.83, a PE ratio of 39.58, a P/E/G ratio of 1.59 and a beta of 0.75. The company has a debt-to-equity ratio of 4.75, a quick ratio of 1.77 and a current ratio of 1.78.
Wendys (NASDAQ:WEN) last announced its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). Wendys had a return on equity of 21.24% and a net margin of 15.86%. The business had revenue of $309.25 million for the quarter. During the same quarter last year, the business posted $0.08 EPS. The firm’s revenue was down .2% compared to the same quarter last year. equities analysts anticipate that Wendys will post 0.55 EPS for the current fiscal year.
Wendys announced that its board has authorized a stock repurchase plan on Thursday, February 15th that authorizes the company to repurchase $175.00 million in shares. This repurchase authorization authorizes the restaurant operator to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other Wendys news, CFO Gunther Plosch purchased 5,000 shares of the 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 transaction, the chief financial officer now directly owns 25,000 shares in the company, valued at $415,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Trian Partners Parallel Fund I sold 5,000,000 shares of Wendys stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $16.50, for a total transaction of $82,500,000.00. Following the sale, 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. Company insiders own 26.50% of the company’s stock.
Several large investors have recently modified their holdings of the company. First Trust Advisors LP boosted its stake in Wendys by 125.5% during the 3rd quarter. First Trust Advisors LP now owns 321,067 shares of the restaurant operator’s stock worth $4,986,000 after acquiring an additional 178,685 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Wendys in the third quarter valued at approximately $421,000. Sei Investments Co. lifted its stake in Wendys by 15.6% in the third quarter. Sei Investments Co. now owns 59,081 shares of the restaurant operator’s stock valued at $918,000 after buying an additional 7,986 shares in the last quarter. Rhumbline Advisers lifted its stake in Wendys by 9.6% in the third quarter. Rhumbline Advisers now owns 416,227 shares of the restaurant operator’s stock valued at $6,464,000 after buying an additional 36,538 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Wendys in the third quarter valued at approximately $863,000. Institutional investors own 80.55% 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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