Wendys (NASDAQ:WEN) has been assigned a $24.00 price objective by analysts at Oppenheimer in a report issued on Tuesday, TipRanks reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Oppenheimer’s price target suggests a potential upside of 22.32% from the stock’s current price. Oppenheimer also issued estimates for Wendys’ Q3 2019 earnings at $0.14 EPS and Q4 2019 earnings at $0.09 EPS.
Other research analysts also recently issued reports about the company. MKM Partners set a $20.00 price target on Wendys and gave the stock a “hold” rating in a research report on Tuesday. Credit Suisse Group set a $21.00 price objective on Wendys and gave the company a “hold” rating in a research report on Tuesday. Piper Jaffray Companies began coverage on shares of Wendys in a research note on Monday, May 13th. They issued an “overweight” rating and a $22.00 price objective on the stock. BTIG Research downgraded shares of Wendys from a “buy” rating to a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Co boosted their target price on shares of Wendys from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $20.83.
WEN stock traded down $0.09 during mid-day trading on Tuesday, reaching $19.62. 4,905,163 shares of the stock traded hands, compared to its average volume of 3,240,024. The firm has a market capitalization of $4.52 billion, a PE ratio of 33.25, a P/E/G ratio of 2.43 and a beta of 0.66. The business has a 50-day moving average of $20.23 and a two-hundred day moving average of $18.92. Wendys has a 52 week low of $14.96 and a 52 week high of $22.84. The company has a quick ratio of 1.96, a current ratio of 1.97 and a debt-to-equity ratio of 5.67.
Wendys (NASDAQ:WEN) last posted its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Wendys had a return on equity of 23.16% and a net margin of 28.88%. The business had revenue of $435.30 million for the quarter, compared to analyst estimates of $439.64 million. During the same period in the previous year, the company posted $0.14 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities research analysts anticipate that Wendys will post 0.63 EPS for the current fiscal year.
In other Wendys news, Director Matthew H. Peltz sold 2,000,000 shares of Wendys stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $19.97, for a total transaction of $39,940,000.00. Following the sale, the director now directly owns 5,444,270 shares of the company’s stock, valued at $108,722,071.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $19.90, for a total value of $9,452,500.00. Following the completion of the sale, the insider now owns 5,444,270 shares in the company, valued at $108,340,973. The disclosure for this sale can be found here. 20.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Coastal Capital Group Inc. bought a new stake in shares of Wendys in the 2nd quarter worth about $30,000. Coastal Investment Advisors Inc. lifted its holdings in Wendys by 116.6% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock valued at $36,000 after purchasing an additional 978 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Wendys by 65.2% during the 2nd quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 849 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Wendys in the first quarter valued at about $58,000. Finally, Carroll Financial Associates Inc. boosted its position in Wendys by 226.6% in the second quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock valued at $75,000 after buying an additional 2,658 shares in the last quarter. 77.94% of the stock is owned by institutional investors and hedge funds.
The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.
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