The Wendy’s Stock Rating Upgraded by Argus (WEN)
The Wendy’s (NYSE:WEN) was upgraded by investment analysts at Argus from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $10.00 price target on the stock. Argus’ price target would indicate a potential upside of 21.21% from the company’s current price.
WEN has been the subject of a number of other recent research reports. Analysts at Zacks reiterated an “outperform” rating on shares of The Wendy’s (NYSE:WEN) in a research note to investors on Friday, August 16th. They now have a $9.25 price target on the stock. Separately, analysts at Thomson Reuters/Verus upgraded shares of The Wendy’s (NYSE:WEN) from a “sell” rating to a “hold” rating in a research note to investors on Monday, July 29th. Finally, analysts at Barclays Capital raised their price target on shares of The Wendy’s (NYSE:WEN) from $7.00 to $8.00 in a research note to investors on Wednesday, July 24th. They now have an “overweight” rating on the stock.
Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $7.00.
Shares of The Wendy’s (NYSE:WEN) opened at 8.25 on Thursday. The Wendy’s has a 52-week low of $4.09 and a 52-week high of $8.27. The stock has a 50-day moving average of $7.6 and a 200-day moving average of $6.28. The company has a market cap of $3.245 billion and a P/E ratio of 222.97.
The Wendy’s (NYSE:WEN) last announced its earnings results on Tuesday, July 23rd. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.02. The company had revenue of $650.50 million for the quarter, compared to the consensus estimate of $655.90 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. Analysts expect that The Wendy’s will post $0.23 EPS for the current fiscal year.
The Wendy’s Company is a quick-service restaurant company in the hamburger sandwich segment. Wendy’s is primarily engaged in the business of operating, developing and franchising a system of distinctive quick-service restaurants serving food.
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