Wendy’s (NASDAQ:WEN) PT Raised to $20.00 at Wedbush

Wendy’s (NASDAQ:WEN) had its price target increased by research analysts at Wedbush from $19.00 to $20.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s price target suggests a potential downside of 0.70% from the company’s current price. Wedbush also issued estimates for Wendy’s’ Q2 2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.33 EPS and Q4 2025 earnings at $0.28 EPS.

Other research analysts also recently issued research reports about the company. Sanford C. Bernstein downgraded Wendy’s from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $24.00 to $20.00 in a research note on Thursday, February 22nd. Gordon Haskett downgraded Wendy’s from a “buy” rating to a “hold” rating and set a $21.00 price target for the company. in a research note on Tuesday, January 16th. Stephens began coverage on Wendy’s in a research note on Friday, April 12th. They set an “equal weight” rating and a $20.00 price target for the company. Royal Bank of Canada cut their price target on Wendy’s from $22.00 to $20.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 20th. Finally, TD Cowen reiterated a “hold” rating and set a $19.00 price target on shares of Wendy’s in a research note on Wednesday, April 10th. Thirteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.53.

Wendy’s Stock Up 1.6 %

Shares of NASDAQ:WEN opened at $20.14 on Friday. The company has a market capitalization of $4.14 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 1.99 and a beta of 0.82. The company has a debt-to-equity ratio of 10.66, a current ratio of 2.19 and a quick ratio of 2.18. The business has a fifty day moving average price of $18.62 and a two-hundred day moving average price of $19.01. Wendy’s has a 1 year low of $17.64 and a 1 year high of $23.90.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $540.65 million during the quarter, compared to the consensus estimate of $546.47 million. Wendy’s had a net margin of 9.37% and a return on equity of 56.24%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. Analysts forecast that Wendy’s will post 0.99 earnings per share for the current year.

Insider Buying and Selling at Wendy’s

In other Wendy’s news, Director Kenneth W. Gilbert sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $18.07, for a total value of $81,315.00. Following the sale, the director now owns 31,304 shares of the company’s stock, valued at approximately $565,663.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Wendy’s

A number of large investors have recently modified their holdings of WEN. CWM LLC raised its holdings in shares of Wendy’s by 81.4% during the 3rd quarter. CWM LLC now owns 8,538 shares of the restaurant operator’s stock valued at $174,000 after buying an additional 3,830 shares in the last quarter. SG Americas Securities LLC bought a new position in Wendy’s during the 3rd quarter worth approximately $108,000. Private Trust Co. NA bought a new position in Wendy’s during the 3rd quarter worth approximately $43,000. My Legacy Advisors LLC grew its position in Wendy’s by 13.5% during the 3rd quarter. My Legacy Advisors LLC now owns 17,750 shares of the restaurant operator’s stock worth $342,000 after acquiring an additional 2,114 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Wendy’s by 2.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 86,969 shares of the restaurant operator’s stock worth $1,775,000 after acquiring an additional 1,723 shares during the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

About Wendy’s

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.