Noodles & Co. (NDLS) Downgraded to “Hold” at Jefferies Group
Noodles & Co. (NASDAQ:NDLS) was downgraded by equities researchers at Jefferies Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday. They presently have a $10.00 price objective on the stock. Jefferies Group’s price objective would suggest a potential upside of 122.72% from the stock’s current price.
Several other analysts also recently weighed in on the company. BMO Capital Markets downgraded Noodles & Co. from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $15.00 to $9.00 in a research note on Tuesday, July 26th. Zacks Investment Research downgraded Noodles & Co. from a “hold” rating to a “sell” rating in a research note on Thursday, July 14th. Robert W. Baird reiterated a “hold” rating on shares of Noodles & Co. in a research note on Monday, May 16th. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Noodles & Co. in a research note on Wednesday, May 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Noodles & Co. presently has an average rating of “Hold” and a consensus target price of $9.14.
Noodles & Co. (NASDAQ:NDLS) traded down 1.75% during mid-day trading on Tuesday, hitting $4.49. The company had a trading volume of 152,578 shares. Noodles & Co. has a 52 week low of $4.41 and a 52 week high of $14.95. The company’s market capitalization is $125.03 million. The firm’s 50 day moving average is $5.83 and its 200 day moving average is $8.86.
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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 for the quarter, missing the consensus estimate 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 return on equity of 2.75% and a negative net margin of 6.50%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. On average, equities research analysts predict that Noodles & Co. will post ($0.10) EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in NDLS. US Bancorp DE boosted its position in shares of 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 in the last quarter. A.R.T. Advisors LLC bought a new position in shares of Noodles & Co. during the first quarter worth approximately $150,000. Envestnet Asset Management Inc. boosted 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 worth $195,000 after buying an additional 2,981 shares in the last quarter. BlackRock Investment Management LLC boosted 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 worth $445,000 after buying an additional 3,664 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted 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 worth $445,000 after buying an additional 966 shares in the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.
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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