Noodles & Company (NDLS) Receives Consensus Recommendation of “Hold” from Analysts
Noodles & Company (NASDAQ:NDLS) has been given a consensus recommendation of “Hold” by the ten research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $4.57.
Several analysts have recently weighed in on the stock. Jefferies Group LLC restated a “hold” rating and set a $4.50 price objective (down previously from $5.50) on shares of Noodles & in a research report on Friday, August 11th. Zacks Investment Research downgraded shares of Noodles & from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. Wedbush restated a “hold” rating on shares of Noodles & in a research report on Friday, August 11th. SunTrust Banks, Inc. restated a “hold” rating and set a $5.00 price objective on shares of Noodles & in a research report on Thursday, October 12th. Finally, Piper Jaffray Companies restated a “sell” rating and set a $4.00 price objective on shares of Noodles & in a research report on Friday, August 11th.
Noodles & (NASDAQ:NDLS) last issued its quarterly earnings data on Thursday, August 10th. The restaurant operator reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $112.79 million for the quarter, compared to analysts’ expectations of $113.98 million. Noodles & had a negative return on equity of 10.25% and a negative net margin of 17.42%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) EPS.
Hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its position in Noodles & by 52.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 26,856 shares of the restaurant operator’s stock valued at $105,000 after purchasing an additional 9,287 shares during the last quarter. Royce & Associates LP purchased a new stake in Noodles & in the 2nd quarter valued at $146,000. Spark Investment Management LLC purchased a new stake in Noodles & in the 2nd quarter valued at $226,000. KCG Holdings Inc. raised its position in Noodles & by 91.8% in the 1st quarter. KCG Holdings Inc. now owns 58,108 shares of the restaurant operator’s stock valued at $334,000 after purchasing an additional 27,818 shares during the last quarter. Finally, Creative Planning raised its position in Noodles & by 48,000.0% in the 2nd quarter. Creative Planning now owns 72,150 shares of the restaurant operator’s stock valued at $281,000 after purchasing an additional 72,000 shares during the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.
About Noodles &
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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