Noodles & Co. (NDLS) Reaches New 12-Month Low at $5.72
Shares of Noodles & Co. (NASDAQ:NDLS) hit a new 52-week low during trading on Tuesday . The company traded as low as $5.72 and last traded at $5.77, with a volume of 47,853 shares traded. The stock had previously closed at $5.78.
A number of brokerages have commented on NDLS. Zacks Investment Research cut Noodles & Co. from a “hold” rating to a “sell” rating in a research report on Thursday, July 14th. Bank of America Corp. restated a “sell” rating and issued a $8.00 price target on shares of Noodles & Co. in a research report on Friday, August 5th. Jefferies Group reduced their price target on Noodles & Co. from $8.50 to $7.00 and set a “hold” rating for the company in a research report on Friday, August 5th. RBC Capital Markets restated a “sector perform” rating and issued a $8.00 price target (down previously from $13.00) on shares of Noodles & Co. in a research report on Monday, August 8th. Finally, BMO Capital Markets set a $8.00 price target on Noodles & Co. and gave the stock a “hold” rating in a research report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $10.38.
The firm’s 50-day moving average is $6.67 and its 200-day moving average is $9.57. The stock’s market capitalization is $159.00 million.
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Noodles & Co. (NASDAQ:NDLS) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.02. The company earned $121.40 million during the quarter, compared to analysts’ expectations of $121.15 million. Noodles & Co. had a negative net margin of 6.50% and a negative return on equity of 2.75%. Noodles & Co.’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. On average, equities analysts expect that Noodles & Co. will post ($0.10) earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. US Bancorp DE raised its stake in Noodles & Co. by 11.8% in the second quarter. US Bancorp DE now owns 13,551 shares of the company’s stock worth $132,000 after buying an additional 1,432 shares during the period. A.R.T. Advisors LLC bought a new stake in Noodles & Co. during the first quarter worth about $150,000. Envestnet Asset Management Inc. raised its stake in Noodles & Co. by 22.2% in the first quarter. Envestnet Asset Management Inc. now owns 16,432 shares of the company’s stock worth $195,000 after buying an additional 2,981 shares during the period. BlackRock Investment Management LLC raised its stake in Noodles & Co. by 8.8% in the second quarter. BlackRock Investment Management LLC now owns 45,521 shares of the company’s stock worth $445,000 after buying an additional 3,664 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in Noodles & Co. by 2.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 45,490 shares of the company’s stock worth $445,000 after buying an additional 966 shares during the period. Institutional investors and hedge funds own 96.89% of the company’s stock.
About Noodles & Co.
Noodles & Company develops and operates fast casual restaurants. The Company’s menu includes a range of cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches and appetizers. The Company has approximately 490 restaurants, including 420 Company-owned and 70 franchised locations, across 40 states, the District of Columbia and one Canadian province.
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