Wendy’s (NASDAQ:WEN) Price Target Raised to $21.00 at UBS Group

Wendy’s (NASDAQ:WEN) had its price target hoisted by investment analysts at UBS Group from $20.00 to $21.00 in a report released on Friday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. UBS Group’s price objective suggests a potential upside of 5.32% from the stock’s previous close.

A number of other research firms have also weighed in on WEN. JPMorgan Chase & Co. lowered shares of Wendy’s from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $19.00 in a research report on Wednesday, February 21st. Sanford C. Bernstein lowered Wendy’s from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $24.00 to $20.00 in a research note on Thursday, February 22nd. Wedbush upped their price objective on Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday. Piper Sandler lifted their target price on Wendy’s from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, TD Cowen reissued a “hold” rating and set a $19.00 target price on shares of Wendy’s in a research note on Friday. Fourteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Wendy’s presently has a consensus rating of “Hold” and an average target price of $22.60.

Wendy’s Price Performance

Shares of WEN traded up $0.02 during mid-day trading on Friday, reaching $19.94. The stock had a trading volume of 3,617,849 shares, compared to its average volume of 3,110,898. The company has a debt-to-equity ratio of 10.66, a quick ratio of 2.18 and a current ratio of 2.19. Wendy’s has a 12 month low of $17.64 and a 12 month high of $23.90. The business has a fifty day moving average of $18.77 and a 200 day moving average of $19.04. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.97 and a beta of 0.78.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02. The business had revenue of $534.80 million during the quarter, compared to the consensus estimate of $540.84 million. Wendy’s had a net margin of 9.37% and a return on equity of 56.24%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS. Equities analysts predict that Wendy’s will post 0.99 EPS for the current year.

Insider Activity at Wendy’s

In related news, Director Kenneth W. Gilbert sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $18.07, for a total value of $81,315.00. Following the sale, the director now directly owns 31,304 shares of the company’s stock, valued at $565,663.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wendy’s

Hedge funds have recently modified their holdings of the stock. Highlander Capital Management LLC raised 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 valued at $27,000 after buying an additional 1,000 shares during the period. Signaturefd LLC raised its stake 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 period. Salomon & Ludwin LLC increased its stake in shares of Wendy’s by 378.0% in the first quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock worth $30,000 after buying an additional 1,240 shares during the last quarter. Spire Wealth Management boosted its holdings in Wendy’s by 203.2% in the third quarter. Spire Wealth Management now owns 1,516 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 1,016 shares during the period. Finally, Quarry LP acquired a new position in Wendy’s in the fourth quarter worth $34,000. 85.96% of the stock is owned by institutional investors and hedge funds.

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.