Citigroup Inc. Reaffirms “Buy” Rating for Noodles & Co. (NDLS)
Citigroup Inc. restated their buy rating on shares of Noodles & Co. (NASDAQ:NDLS) in a research report report published on Wednesday morning. Citigroup Inc. currently has a $6.00 price objective on the stock.
A number of other analysts have also recently issued reports on NDLS. Zacks Investment Research cut Noodles & Co. from a hold rating to a sell rating in a report on Thursday, July 14th. Jefferies Group decreased their target price on Noodles & Co. from $8.50 to $7.00 and set a hold rating for the company in a report on Friday, August 5th. Bank of America Corp. reiterated a sell rating and set a $8.00 target price on shares of Noodles & Co. in a report on Friday, August 5th. RBC Capital Markets restated a sector perform rating and issued a $8.00 price target (down previously from $13.00) on shares of Noodles & Co. in a report on Monday, August 8th. Finally, Wedbush decreased their price target on Noodles & Co. from $11.00 to $7.00 and set a neutral rating for the company in a report on Friday, August 5th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $9.14.
Noodles & Co. (NASDAQ:NDLS) opened at 4.65 on Wednesday. The stock’s 50 day moving average is $5.78 and its 200-day moving average is $8.76. The stock’s market capitalization is $129.48 million. Noodles & Co. has a 12 month low of $4.41 and a 12 month high of $14.95.
Noodles & Co. (NASDAQ:NDLS) last issued its earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.02. Noodles & Co. had a negative return on equity of 2.75% and a negative net margin of 6.50%. The firm had revenue of $121.40 million for the quarter, compared to analysts’ expectations of $121.15 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts expect that Noodles & Co. will post ($0.10) earnings per share for the current year.
Several institutional investors have recently made changes to their positions in NDLS. CoreCommodity Management LLC acquired a new position in shares of Noodles & Co. during the second quarter worth about $66,845,000. Vanguard Group Inc. raised its position 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. raised its position 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. raised its position 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. acquired a new position in shares of Noodles & Co. during the second quarter worth about $3,605,000. 96.89% of the stock is currently owned by institutional investors.
About Noodles & Co.
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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