Wendys (WEN) Stock Rating Upgraded by BidaskClub
Wendys (NASDAQ:WEN) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
Several other research firms have also commented on WEN. SunTrust Banks reissued a “buy” rating and set a $22.00 price target on shares of Wendys in a research report on Friday, August 17th. KeyCorp started coverage on Wendys in a research report on Wednesday, October 3rd. They set a “sector weight” rating on the stock. Mizuho set a $21.00 price target on Wendys and gave the stock a “buy” rating in a research report on Thursday, August 16th. Morgan Stanley boosted their price target on Wendys from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, August 17th. Finally, Zacks Investment Research lowered Wendys from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $18.92.
Wendys stock opened at $17.12 on Thursday. The company has a market cap of $4.06 billion, a P/E ratio of 39.81, a P/E/G ratio of 1.43 and a beta of 0.58. The company has a current ratio of 1.71, a quick ratio of 1.70 and a debt-to-equity ratio of 6.44. Wendys has a one year low of $13.57 and a one year high of $18.68.
A number of hedge funds have recently bought and sold shares of WEN. Marshall Wace LLP purchased a new stake in Wendys during the 2nd quarter worth approximately $31,887,000. FMR LLC increased its holdings in Wendys by 362.4% during the 2nd quarter. FMR LLC now owns 1,386,158 shares of the restaurant operator’s stock worth $23,814,000 after purchasing an additional 1,086,386 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Wendys by 12.3% during the 2nd quarter. Wells Fargo & Company MN now owns 9,837,856 shares of the restaurant operator’s stock worth $169,016,000 after purchasing an additional 1,078,609 shares during the last quarter. Mesirow Financial Investment Management Equity Management purchased a new stake in Wendys during the 2nd quarter worth approximately $15,034,000. Finally, Millennium Management LLC increased its holdings in Wendys by 63.0% during the 2nd quarter. Millennium Management LLC now owns 2,120,428 shares of the restaurant operator’s stock worth $36,429,000 after purchasing an additional 819,826 shares during the last quarter. Institutional investors own 80.60% of the company’s stock.
Wendys Company Profile
The Wendy's Company, through its subsidiaries, operates as a quick-service restaurant company. It is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. The company's restaurants offer a range of chicken breast sandwiches, chicken nuggets, chili, French fries, baked potatoes, salads, soft drinks, desserts, and kids' meals.
Read More: Return on Equity (ROE)
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