Noodles & Co (NDLS) Upgraded to “Buy” by SunTrust Banks

Noodles & Co (NASDAQ:NDLS) was upgraded by equities research analysts at SunTrust Banks from a “hold” rating to a “buy” rating in a report issued on Tuesday, MarketBeat reports. The firm presently has a $15.00 price target on the restaurant operator’s stock, up from their previous price target of $11.00. SunTrust Banks’ price target suggests a potential upside of 13.38% from the company’s previous close. SunTrust Banks also issued estimates for Noodles & Co’s Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.05 EPS, FY2018 earnings at $0.07 EPS, Q1 2019 earnings at $0.00 EPS, Q3 2019 earnings at $0.08 EPS, Q4 2019 earnings at $0.08 EPS, FY2019 earnings at $0.21 EPS and FY2020 earnings at $0.27 EPS.

NDLS has been the subject of a number of other reports. UBS Group lifted their target price on Noodles & Co from $4.00 to $10.00 and gave the company a “$11.80” rating in a research report on Thursday, July 19th. BidaskClub raised Noodles & Co from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research lowered Noodles & Co from a “buy” rating to a “hold” rating in a research report on Saturday, July 21st. Citigroup decreased their target price on Noodles & Co from $13.50 to $11.50 and set a “buy” rating for the company in a research report on Wednesday, August 8th. Finally, ValuEngine lowered Noodles & Co from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 7th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $12.17.

Shares of NASDAQ NDLS opened at $13.23 on Tuesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.52 and a quick ratio of 0.29. The firm has a market cap of $499.71 million, a price-to-earnings ratio of -661.50, a PEG ratio of 34.57 and a beta of -0.58. Noodles & Co has a twelve month low of $3.95 and a twelve month high of $13.50.

Noodles & Co (NASDAQ:NDLS) last issued its earnings results on Wednesday, July 18th. The restaurant operator reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The firm had revenue of $117.40 million for the quarter, compared to the consensus estimate of $114.16 million. Noodles & Co had a negative net margin of 4.03% and a negative return on equity of 0.45%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. Research analysts expect that Noodles & Co will post 0.04 earnings per share for the current fiscal year.

In other news, EVP Melissa Heidman sold 4,315 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $12.00, for a total value of $51,780.00. Following the completion of the transaction, the executive vice president now directly owns 24,740 shares of the company’s stock, valued at approximately $296,880. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Catterton-Noodles, Llc sold 2,477,842 shares of the business’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $10.00, for a total value of $24,778,420.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,448,909 shares of company stock valued at $34,384,069. Corporate insiders own 50.52% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Noodles & Co by 13.4% in the 2nd quarter. BlackRock Inc. now owns 941,665 shares of the restaurant operator’s stock worth $11,583,000 after acquiring an additional 111,105 shares in the last quarter. Tenzing Global Management LLC raised its position in shares of Noodles & Co by 78.3% in the 2nd quarter. Tenzing Global Management LLC now owns 835,000 shares of the restaurant operator’s stock worth $10,271,000 after acquiring an additional 366,588 shares in the last quarter. Eidelman Virant Capital raised its position in shares of Noodles & Co by 9.7% in the 3rd quarter. Eidelman Virant Capital now owns 784,696 shares of the restaurant operator’s stock worth $9,494,000 after acquiring an additional 69,405 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Noodles & Co by 3.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 314,179 shares of the restaurant operator’s stock worth $3,864,000 after acquiring an additional 10,767 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new position in shares of Noodles & Co in the 3rd quarter worth $3,684,000. 61.82% of the stock is owned by hedge funds and other institutional investors.

About Noodles & Co

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.

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Analyst Recommendations for Noodles & Co (NASDAQ:NDLS)

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