Wendys’ (WEN) “Overweight” Rating Reiterated at Barclays
Barclays restated their overweight rating on shares of Wendys (NASDAQ:WEN) in a research note released on Tuesday, MarketBeat reports. They currently have a $20.00 price target on the restaurant operator’s stock, up from their previous price target of $17.00.
A number of other analysts have also recently weighed in on WEN. Longbow Research cut shares of Wendys from a buy rating to a neutral rating and set a $18.00 price objective on the stock. in a report on Friday, January 12th. They noted that the move was a valuation call. SunTrust Banks reissued a buy rating and set a $18.00 price objective on shares of Wendys in a report on Monday, October 2nd. BidaskClub raised shares of Wendys from a sell rating to a hold rating in a report on Wednesday, December 20th. Zacks Investment Research raised shares of Wendys from a sell rating to a hold rating in a report on Thursday, October 12th. Finally, Royal Bank of Canada reissued a hold rating and set a $16.00 price objective on shares of Wendys in a report on Tuesday, November 7th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Wendys currently has a consensus rating of Hold and an average target price of $16.94.
Wendys (NASDAQ WEN) opened at $16.84 on Tuesday. Wendys has a 12 month low of $13.03 and a 12 month high of $17.66. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 5.83. The stock has a market cap of $4,076.17, a P/E ratio of 41.05, a P/E/G ratio of 1.91 and a beta of 0.93.
In other Wendys news, insider Scott A. Weisberg bought 10,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were acquired at an average cost of $14.29 per share, with a total value of $142,900.00. Following the acquisition, the insider now directly owns 199,014 shares of the company’s stock, valued at approximately $2,843,910.06. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 26.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in WEN. Janus Henderson Group PLC acquired a new position in shares of Wendys in the 2nd quarter valued at $189,448,000. Castleark Management LLC acquired a new position in Wendys in the 2nd quarter valued at $14,085,000. Renaissance Technologies LLC increased its stake in Wendys by 208.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,208,522 shares of the restaurant operator’s stock valued at $18,744,000 after buying an additional 817,040 shares during the period. FMR LLC increased its stake in Wendys by 1,023.5% in the 2nd quarter. FMR LLC now owns 799,897 shares of the restaurant operator’s stock valued at $12,406,000 after buying an additional 728,697 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Wendys by 92.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,434,000 shares of the restaurant operator’s stock valued at $22,270,000 after buying an additional 688,700 shares during the period. 76.39% of the stock is currently owned by institutional investors and hedge funds.
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Wendys Company Profile
The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.
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