Deutsche Bank Increases The Wendy’s Price Target to $8.00 (WEN)
Deutsche Bank boosted their target price on shares of The Wendy’s (NYSE:WEN) from $7.00 to $8.00 in a research note issued on Monday, American Banking News.com reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s target price would indicate a potential downside of 3.96% from the stock’s previous close.
The analysts wrote, “We believe the July sluggishness discussed on 2Q conf. calls generally continued through the balance of 3Q. From MCD to DFRG, mgmt. tone has remained cautious on the restaurant consumer. In contrast, sector valuations are near cyclical peaks (~22x NTM P/E), leaving us concerned about relative and absolute perf. for the group into earnings season. Also, an extended govt. shutdown would likely cause some further retrenchment in restaurant spending. Maintain defensive bias. Reiterate Buys on MCD (franchise income on the cheap) and BWLD (favorable margin outlook protects EPS).”
A number of other firms have also recently commented on WEN. Analysts at Zacks downgraded shares of The Wendy’s from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, September 30th. They now have a $9.00 price target on the stock. Separately, analysts at KeyCorp upgraded shares of The Wendy’s from an “underweight” rating to a “hold” rating in a research note to investors on Friday, September 13th. Finally, analysts at Argus upgraded shares of The Wendy’s from a “hold” rating to a “buy” rating in a research note to investors on Thursday, September 12th. They now have a $10.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. The Wendy’s has a consensus rating of “Hold” and a consensus target price of $7.28.
The Wendy’s (NYSE:WEN) traded down 0.12% on Monday, hitting $8.33. 12,160,455 shares of the company’s stock traded hands. The Wendy’s has a 1-year low of $4.10 and a 1-year high of $8.88. The stock has a 50-day moving average of $8.17 and a 200-day moving average of $6.67. The company has a market cap of $3.276 billion and a price-to-earnings ratio of 225.41.
The Wendy’s (NYSE:WEN) last announced its earnings results on Tuesday, July 23rd. The company reported $0.08 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.05 earnings per share. The Wendy’s's revenue was up .7% compared to the same quarter last 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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