Truist Financial Has Lowered Expectations for Noodles & Company (NASDAQ:NDLS) Stock Price

by · The Cerbat Gem

Noodles & Company (NASDAQ:NDLS – Get Free Report) had its price target reduced by equities researchers at Truist Financial from $4.00 to $3.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s target price points to a potential upside of 197.03% from the company’s previous close.

Separately, StockNews.com upgraded Noodles & Company from a “sell” rating to a “hold” rating in a research report on Thursday, August 29th.

Check Out Our Latest Stock Analysis on Noodles & Company

Noodles & Company Stock Performance

Shares of NDLS stock remained flat at $1.01 during midday trading on Friday. 27,896 shares of the company traded hands, compared to its average volume of 228,707. Noodles & Company has a 1-year low of $0.99 and a 1-year high of $3.50. The stock has a market cap of $46.10 million, a price-to-earnings ratio of -1.80 and a beta of 1.73. The firm has a 50 day moving average price of $1.23 and a 200 day moving average price of $1.57. The company has a quick ratio of 0.17, a current ratio of 0.32 and a debt-to-equity ratio of 8.79.

Noodles & Company (NASDAQ:NDLS – Get Free Report) last announced its earnings results on Wednesday, August 7th. The restaurant operator reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $127.35 million for the quarter, compared to analyst estimates of $130.45 million. Noodles & Company had a negative return on equity of 42.03% and a negative net margin of 5.03%. During the same quarter last year, the company earned ($0.02) earnings per share. Analysts expect that Noodles & Company will post -0.33 EPS for the current year.

Institutional Trading of Noodles & Company

A number of institutional investors have recently modified their holdings of NDLS. Assenagon Asset Management S.A. boosted its position in shares of Noodles & Company by 129.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 44,491 shares of the restaurant operator’s stock worth $53,000 after acquiring an additional 25,122 shares in the last quarter. Creative Planning boosted its holdings in shares of Noodles & Company by 83.2% in the 3rd quarter. Creative Planning now owns 132,130 shares of the restaurant operator’s stock valued at $159,000 after purchasing an additional 60,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Noodles & Company in the 2nd quarter valued at $99,000. Nantahala Capital Management LLC increased its stake in shares of Noodles & Company by 6.8% in the 2nd quarter. Nantahala Capital Management LLC now owns 4,308,329 shares of the restaurant operator’s stock valued at $6,807,000 after purchasing an additional 275,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Noodles & Company by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator’s stock worth $4,611,000 after buying an additional 17,000 shares in the last quarter. 65.67% of the stock is currently owned by institutional investors.

Noodles & Company Company Profile

(Get Free Report)

Noodles & Company, a restaurant concept company, develops and operates fast-casual restaurants. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. It operates company owned locations and franchise locations. The company was founded in 1995 and is based in Broomfield, Colorado.

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