Royal Bank of Canada Increases Noodles & Co (NDLS) Price Target to $9.00

Noodles & Co (NASDAQ:NDLS) had its target price lifted by Royal Bank of Canada to $9.00 in a report issued on Tuesday morning. The brokerage currently has a market perform rating on the restaurant operator’s stock.

A number of other research analysts have also recently commented on the company. BidaskClub cut Noodles & Co from a strong-buy rating to a buy rating in a research report on Sunday, February 18th. BMO Capital Markets set a $5.00 price target on Noodles & Co and gave the company a hold rating in a research report on Wednesday, March 14th. Wedbush reaffirmed a neutral rating on shares of Noodles & Co in a research report on Monday, April 2nd. Finally, ValuEngine raised Noodles & Co from a sell rating to a hold rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $5.75.

Shares of NASDAQ NDLS opened at $8.50 on Tuesday. Noodles & Co has a one year low of $3.35 and a one year high of $9.95. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.26 and a current ratio of 0.52. The firm has a market cap of $347.81 million, a PE ratio of -425.00, a PEG ratio of 32.19 and a beta of -0.49.

Noodles & Co (NASDAQ:NDLS) last issued its quarterly earnings results on Thursday, May 10th. The restaurant operator reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Noodles & Co had a negative net margin of 3.16% and a negative return on equity of 0.66%. The firm had revenue of $110.50 million for the quarter, compared to analysts’ expectations of $107.78 million. During the same period in the prior year, the company earned ($0.08) EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. research analysts expect that Noodles & Co will post 0.03 EPS for the current fiscal year.

In related news, insider Susan Daggett sold 7,500 shares of the stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $9.58, for a total transaction of $71,850.00. Following the sale, the insider now owns 23,800 shares of the company’s stock, valued at approximately $228,004. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 50.52% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of NDLS. Schwab Charles Investment Management Inc. lifted its holdings in Noodles & Co by 79.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 53,121 shares of the restaurant operator’s stock worth $279,000 after purchasing an additional 23,496 shares in the last quarter. Eidelman Virant Capital lifted its holdings in Noodles & Co by 117.5% during the 4th quarter. Eidelman Virant Capital now owns 809,170 shares of the restaurant operator’s stock worth $4,248,000 after purchasing an additional 437,170 shares in the last quarter. BlackRock Inc. lifted its holdings in Noodles & Co by 3.2% during the 4th quarter. BlackRock Inc. now owns 840,837 shares of the restaurant operator’s stock worth $4,415,000 after purchasing an additional 26,022 shares in the last quarter. MYDA Advisors LLC purchased a new stake in Noodles & Co during the 4th quarter worth about $420,000. Finally, Deutsche Bank AG lifted its holdings in Noodles & Co by 113.2% during the 4th quarter. Deutsche Bank AG now owns 25,646 shares of the restaurant operator’s stock worth $134,000 after purchasing an additional 13,618 shares in the last quarter. 53.98% of the stock is currently owned by institutional investors and hedge funds.

Noodles & Co Company Profile

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.

Analyst Recommendations for Noodles & Co (NASDAQ:NDLS)

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