Wendys (WEN) Lifted to “Sell” at BidaskClub

Wendys (NASDAQ:WEN) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

Several other research analysts also recently commented on WEN. Royal Bank of Canada reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Wendys in a report on Tuesday, November 7th. Zacks Investment Research downgraded shares of Wendys from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Morgan Stanley raised their price objective on shares of Wendys from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, November 9th. Nomura cut their price objective on shares of Wendys from $15.00 to $14.50 and set a “neutral” rating for the company in a report on Thursday, November 9th. Finally, Credit Suisse Group cut their price objective on shares of Wendys from $15.75 to $15.00 and set a “neutral” rating for the company in a report on Thursday, November 9th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $17.13.

Wendys (WEN) opened at $15.66 on Friday. Wendys has a fifty-two week low of $13.03 and a fifty-two week high of $17.66. The stock has a market capitalization of $3,790.00, a P/E ratio of 62.64, a P/E/G ratio of 1.77 and a beta of 0.82. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 5.83.

Wendys (NASDAQ:WEN) last released its quarterly earnings data on Wednesday, November 8th. The restaurant operator reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). The business had revenue of $308.00 million during the quarter. Wendys had a return on equity of 20.35% and a net margin of 5.20%. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 earnings per share. equities analysts anticipate that Wendys will post 0.44 EPS for the current fiscal year.

In other news, insider Scott A. Weisberg bought 10,000 shares of the stock in a transaction on Monday, November 13th. The shares were acquired at an average cost of $14.29 per share, for a total transaction of $142,900.00. Following the purchase, the insider now directly owns 199,014 shares of the company’s stock, valued at approximately $2,843,910.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 26.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of WEN. Victory Capital Management Inc. raised its position in shares of Wendys by 26.8% during the 4th quarter. Victory Capital Management Inc. now owns 7,122,035 shares of the restaurant operator’s stock valued at $116,944,000 after buying an additional 1,507,055 shares in the last quarter. FMR LLC raised its position in shares of Wendys by 1,023.5% during the 2nd quarter. FMR LLC now owns 799,897 shares of the restaurant operator’s stock valued at $12,406,000 after buying an additional 728,697 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Wendys by 92.4% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,434,000 shares of the restaurant operator’s stock valued at $22,270,000 after buying an additional 688,700 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Wendys by 7.4% during the 4th quarter. Wells Fargo & Company MN now owns 8,547,151 shares of the restaurant operator’s stock valued at $140,344,000 after buying an additional 587,113 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Wendys during the 4th quarter valued at $8,224,000. Hedge funds and other institutional investors own 76.74% of the company’s stock.

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Wendys Company Profile

The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.

Analyst Recommendations for Wendys (NASDAQ:WEN)

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