Wendy’s (NASDAQ:WEN) Given New $20.00 Price Target at Wedbush

Wendy’s (NASDAQ:WEN) had its price target upped by investment analysts at Wedbush from $19.00 to $20.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s price target indicates a potential downside of 1.43% from the company’s current price.

Several other brokerages have also weighed in on WEN. JPMorgan Chase & Co. lowered Wendy’s from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Wednesday, February 21st. Barclays cut Wendy’s from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $23.00 to $21.00 in a research note on Wednesday, January 3rd. Royal Bank of Canada dropped their price objective on Wendy’s from $22.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 20th. Sanford C. Bernstein lowered Wendy’s from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $24.00 to $20.00 in a research note on Thursday, February 22nd. Finally, BMO Capital Markets reduced their price target on Wendy’s from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Friday, February 16th. Thirteen analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.53.

Wendy’s Stock Performance

NASDAQ WEN traded up $0.47 during trading hours on Friday, hitting $20.29. The company had a trading volume of 4,014,353 shares, compared to its average volume of 2,950,438. The firm has a market cap of $4.17 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 1.99 and a beta of 0.82. The company has a quick ratio of 2.18, a current ratio of 2.19 and a debt-to-equity ratio of 10.66. Wendy’s has a fifty-two week low of $17.64 and a fifty-two week high of $23.90. The business has a fifty day simple moving average of $18.57 and a 200-day simple moving average of $19.00.

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

Insider Buying and Selling

In related news, Director Kenneth W. Gilbert sold 4,500 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $18.07, for a total value of $81,315.00. Following the transaction, the director now owns 31,304 shares of the company’s stock, valued at $565,663.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.10% of the stock is currently owned by company insiders.

Institutional Trading of Wendy’s

A number of institutional investors have recently modified their holdings of WEN. Highlander Capital Management LLC lifted its holdings in Wendy’s by 250.0% in the fourth quarter. Highlander Capital Management LLC now owns 1,400 shares of the restaurant operator’s stock worth $27,000 after buying an additional 1,000 shares during the period. Signaturefd LLC lifted its holdings in shares of Wendy’s by 112.0% during the third quarter. Signaturefd LLC now owns 1,444 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 763 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of Wendy’s by 203.2% during the third quarter. Spire Wealth Management now owns 1,516 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 1,016 shares during the last quarter. Quarry LP purchased a new position in shares of Wendy’s during the fourth quarter valued at approximately $34,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Wendy’s by 145.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,116 shares of the restaurant operator’s stock valued at $41,000 after purchasing an additional 1,255 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wendy’s Company Profile

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.