Noodles & Co. (NASDAQ:NDLS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Noodles & Company is a fast casual restaurant which offers lunch and dinner. It serves noodles, pastas, salads, soups, sandwiches, cheese, meatballs and beverages. The company operates in the United States. Noodles & Company is based in Broomfield, Colorado. “

NDLS has been the subject of several other reports. Bank of America Corp. reiterated a “sell” rating and issued a $8.00 price objective on shares of Noodles & Co. in a research report on Friday, August 5th. Wedbush lowered their price objective on Noodles & Co. from $11.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, August 5th. Piper Jaffray Cos. reiterated an “underweight” rating and issued a $6.00 price objective (down from $7.00) on shares of Noodles & Co. in a research report on Monday, August 8th. Jefferies Group lowered their price objective 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. Finally, BMO Capital Markets set a $8.00 price objective on Noodles & Co. and gave the stock a “hold” rating in a research report on Friday, August 5th. Two 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’s stock. The stock has an average rating of “Hold” and a consensus target price of $10.38.

Analyst Recommendations for Noodles & Co. (NASDAQ:NDLS)

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Shares of Noodles & Co. (NASDAQ:NDLS) traded down 2.84% on Wednesday, hitting $5.48. The stock had a trading volume of 142,363 shares. Noodles & Co. has a 12-month low of $5.47 and a 12-month high of $14.95. The firm’s market cap is $152.60 million. The stock has a 50 day moving average of $6.57 and a 200 day moving average of $9.49.

Noodles & Co. (NASDAQ:NDLS) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.02. The business earned $121.40 million during the quarter, compared to analysts’ expectations of $121.15 million. Noodles & Co. had a negative return on equity of 2.75% and a negative net margin of 6.50%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. Equities analysts predict that Noodles & Co. will post ($0.10) earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of NDLS. US Bancorp DE raised its position in Noodles & Co. by 11.8% in the second quarter. US Bancorp DE now owns 13,551 shares of the company’s stock valued at $132,000 after buying an additional 1,432 shares during the period. A.R.T. Advisors LLC purchased a new position in shares of Noodles & Co. during the first quarter valued at about $150,000. Envestnet Asset Management Inc. raised its position in shares of Noodles & Co. by 22.2% in the first quarter. Envestnet Asset Management Inc. now owns 16,432 shares of the company’s stock valued at $195,000 after buying an additional 2,981 shares during the last quarter. BlackRock Investment Management LLC raised its position in shares of Noodles & Co. by 8.8% in the second quarter. BlackRock Investment Management LLC now owns 45,521 shares of the company’s stock valued at $445,000 after buying an additional 3,664 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Noodles & Co. by 2.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 45,490 shares of the company’s stock valued at $445,000 after buying an additional 966 shares during the last quarter. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

Noodles & Co. Company Profile

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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