Noodles & Co. (NDLS) Stock Rating Upgraded by Zacks Investment Research
Noodles & Co. (NASDAQ:NDLS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Noodles & Company is a fast casual restaurant which offers lunch and dinner. It serves noodles, pastas, salads, soups, sandwiches, cheese, meatballs and beverages. The company operates in the United States. Noodles & Company is based in Broomfield, Colorado. “
NDLS has been the topic of several other reports. Robert W. Baird reaffirmed a “neutral” rating on shares of Noodles & Co. in a research note on Thursday, September 8th. Jefferies Group reaffirmed a “buy” rating and issued a $14.00 price target on shares of Noodles & Co. in a research note on Saturday, June 25th. BMO Capital Markets cut Noodles & Co. from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $15.00 to $9.00 in a research note on Tuesday, July 26th. Bank of America Corp. reissued a “sell” rating on shares of Noodles & Co. in a research note on Tuesday, July 26th. Finally, Wedbush cut their target price on Noodles & Co. from $11.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.38.
Shares of Noodles & Co. (NASDAQ:NDLS) traded down 2.84% during midday trading on Wednesday, reaching $5.48. The company had a trading volume of 142,363 shares. Noodles & Co. has a 1-year low of $5.47 and a 1-year high of $14.95. The company’s 50-day moving average is $6.57 and its 200-day moving average is $9.49. The stock’s market capitalization is $152.60 million.
Noodles & Co. (NASDAQ:NDLS) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The firm earned $121.40 million during the quarter, compared to analysts’ expectations of $121.15 million. Noodles & Co. had a negative return on equity of 2.75% and a negative net margin of 6.50%. Noodles & Co.’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. On average, equities research analysts forecast that Noodles & Co. will post ($0.10) EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. CoreCommodity Management LLC purchased a new position in Noodles & Co. during the second quarter worth $66,845,000. Vanguard Group Inc. boosted its stake in shares of Noodles & Co. by 0.5% in the second quarter. Vanguard Group Inc. now owns 1,002,089 shares of the company’s stock worth $9,800,000 after buying an additional 5,258 shares during the last quarter. Netols Asset Management Inc. boosted its stake in shares of Noodles & Co. by 8.3% in the second quarter. Netols Asset Management Inc. now owns 520,711 shares of the company’s stock worth $5,093,000 after buying an additional 39,714 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Noodles & Co. by 0.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 431,190 shares of the company’s stock worth $4,217,000 after buying an additional 1,604 shares during the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Noodles & Co. during the second quarter worth approximately $3,605,000. 96.89% of the stock is currently owned by institutional investors.
Noodles & Co. Company Profile
Noodles & Company develops and operates fast casual restaurants. The Company’s menu includes a range of cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches and appetizers. The Company has approximately 490 restaurants, including 420 Company-owned and 70 franchised locations, across 40 states, the District of Columbia and one Canadian province.
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