Wendys (NASDAQ:WEN) had its price objective upped by analysts at SunTrust Banks to $22.00 in a report released on Wednesday, The Fly reports. SunTrust Banks’ target price suggests a potential upside of 34.80% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Wendys from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, November 9th. Nomura reduced their price objective on shares of Wendys from $15.00 to $14.50 and set a “neutral” rating on the stock in a research report on Thursday, November 9th. Longbow Research upgraded shares of Wendys from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $15.23 to $18.00 in a research report on Friday, September 15th. TheStreet cut shares of Wendys from a “b-” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research cut shares of Wendys from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $16.84.
Shares of Wendys (NASDAQ:WEN) opened at $16.32 on Wednesday. The stock has a market cap of $3,950.00, a P/E ratio of 65.28, a PEG ratio of 2.32 and a beta of 0.93. The company has a current ratio of 1.80, a quick ratio of 1.78 and a debt-to-equity ratio of 5.83. Wendys has a 1 year low of $13.03 and a 1 year high of $16.98.
In other news, insider Scott A. Weisberg acquired 10,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was bought at an average cost of $14.29 per share, with a total value of $142,900.00. Following the completion of the purchase, the insider now directly owns 199,014 shares of the company’s stock, valued at $2,843,910.06. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 26.50% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC boosted its stake in shares of Wendys by 8.2% during the third quarter. Parametric Portfolio Associates LLC now owns 839,701 shares of the restaurant operator’s stock valued at $13,041,000 after purchasing an additional 63,788 shares during the period. California Public Employees Retirement System lifted its stake in Wendys by 2.3% in the third quarter. California Public Employees Retirement System now owns 561,588 shares of the restaurant operator’s stock worth $8,721,000 after acquiring an additional 12,537 shares during the period. Cubist Systematic Strategies LLC lifted its stake in Wendys by 729.4% in the third quarter. Cubist Systematic Strategies LLC now owns 113,371 shares of the restaurant operator’s stock worth $1,761,000 after acquiring an additional 99,702 shares during the period. Jane Street Group LLC purchased a new stake in Wendys in the third quarter worth about $926,000. Finally, Boothbay Fund Management LLC lifted its stake in Wendys by 44.5% in the third quarter. Boothbay Fund Management LLC now owns 60,706 shares of the restaurant operator’s stock worth $943,000 after acquiring an additional 18,688 shares during the period. 76.33% of the stock is owned by hedge funds and other institutional investors.
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About Wendys
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.
