Noodles & Co (NASDAQ:NDLS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Friday.

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. “

Several other research firms have also recently weighed in on NDLS. ValuEngine raised Noodles & Co from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 17th. Citigroup lifted their price target on Noodles & Co from $11.50 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 18th. UBS Group lifted their price target on Noodles & Co from $4.00 to $10.00 and gave the stock a “$11.80” rating in a report on Thursday, July 19th. BidaskClub raised Noodles & Co from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 12th. Finally, BMO Capital Markets lifted their price target on Noodles & Co from $6.00 to $10.00 and gave the stock a “market perform” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.50.

NASDAQ:NDLS traded up $0.41 during mid-day trading on Friday, hitting $9.70. 1,082,373 shares of the stock were exchanged, compared to its average volume of 715,003. The stock has a market cap of $426.04 million, a P/E ratio of 485.00, a PEG ratio of 36.95 and a beta of -0.58. The company has a current ratio of 0.68, a quick ratio of 0.29 and a debt-to-equity ratio of 0.91. Noodles & Co has a fifty-two week low of $3.95 and a fifty-two week high of $13.50.

Noodles & Co (NASDAQ:NDLS) last released its quarterly earnings results on Tuesday, October 23rd. The restaurant operator reported $0.04 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. The business had revenue of $116.70 million during the quarter, compared to analysts’ expectations of $114.80 million. Noodles & Co had a positive return on equity of 2.23% and a negative net margin of 1.96%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.02 EPS. As a group, sell-side analysts forecast that Noodles & Co will post 0.03 EPS for the current year.

In other Noodles & Co news, Director Robert M. Hartnett sold 9,652 shares of Noodles & Co stock in a transaction on Monday, August 27th. The stock was sold at an average price of $11.51, for a total value of $111,094.52. Following the completion of the transaction, the director now directly owns 96,606 shares of the company’s stock, valued at approximately $1,111,935.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David James Boennighausen sold 43,096 shares of Noodles & Co stock in a transaction on Monday, August 27th. The shares were sold at an average price of $11.52, for a total value of $496,465.92. Following the completion of the transaction, the chief executive officer now directly owns 118,261 shares of the company’s stock, valued at $1,362,366.72. The disclosure for this sale can be found here. Insiders sold a total of 977,941 shares of company stock valued at $9,695,011 over the last ninety days. Insiders own 50.52% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Intrinsic Edge Capital Management LLC acquired a new position in Noodles & Co in the 2nd quarter valued at $2,460,000. Bank of New York Mellon Corp raised its holdings in shares of Noodles & Co by 15.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 41,914 shares of the restaurant operator’s stock worth $516,000 after buying an additional 5,700 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Noodles & Co by 55.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 85,611 shares of the restaurant operator’s stock worth $1,054,000 after buying an additional 30,618 shares in the last quarter. Tenzing Global Management LLC raised its holdings in shares of Noodles & Co by 78.3% during the 2nd quarter. Tenzing Global Management LLC now owns 835,000 shares of the restaurant operator’s stock worth $10,271,000 after buying an additional 366,588 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Noodles & Co during the 2nd quarter worth $300,000. 62.56% of the stock is owned by hedge funds and other institutional investors.

Noodles & Co Company Profile

Noodles & Company develops and operates fast casual restaurants in the United States. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches, and appetizers. As of January 2, 2018, the company operated 412 company-owned and 66 franchised restaurants in 29 states, the District of Columbia.

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Analyst Recommendations for Noodles & Co (NASDAQ:NDLS)

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