Noodles & Co (NASDAQ:NDLS) was upgraded by research analysts at Piper Jaffray Companies from an “underweight” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has a $10.00 price target on the restaurant operator’s stock. Piper Jaffray Companies’ price target points to a potential upside of 4.49% from the company’s current price.

Several other research firms have also recently weighed in on NDLS. ValuEngine cut shares of Noodles & Co from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 7th. BMO Capital Markets lifted their price target on shares of Noodles & Co from $10.00 to $11.00 and gave the company a “market perform” rating in a report on Wednesday, October 24th. SunTrust Banks upgraded shares of Noodles & Co from a “hold” rating to a “buy” rating and lifted their price target for the company from $11.00 to $15.00 in a report on Tuesday, October 16th. BidaskClub cut shares of Noodles & Co from a “strong-buy” rating to a “buy” rating in a report on Friday, October 5th. Finally, Zacks Investment Research cut shares of Noodles & Co from a “strong-buy” rating to a “hold” rating in a report on Friday, October 26th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $11.71.

NASDAQ:NDLS opened at $9.57 on Thursday. The firm has a market capitalization of $424.29 million, a P/E ratio of 483.00, a P/E/G ratio of 30.11 and a beta of -0.21. Noodles & Co has a twelve month low of $4.10 and a twelve month high of $13.50. The company has a current ratio of 0.68, a quick ratio of 0.36 and a debt-to-equity ratio of 0.91.

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, meeting the consensus estimate of $0.04. The business had revenue of $116.70 million for the quarter, compared to analysts’ expectations of $114.80 million. Noodles & Co had a negative net margin of 1.96% and a positive return on equity of 2.23%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 earnings per share. As a group, analysts predict that Noodles & Co will post 0.04 earnings per share for the current fiscal year.

In other news, CEO David James Boennighausen sold 43,096 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $11.52, for a total transaction of $496,465.92. Following the sale, the chief executive officer now owns 118,261 shares in the company, valued at approximately $1,362,366.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Melissa Heidman sold 5,924 shares of the business’s stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $13.00, for a total transaction of $77,012.00. Following the sale, the executive vice president now owns 31,019 shares in the company, valued at approximately $403,247. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,937 shares of company stock worth $748,702. Company insiders own 50.52% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its stake in Noodles & Co by 55.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 85,611 shares of the restaurant operator’s stock worth $1,054,000 after purchasing an additional 30,618 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new position in Noodles & Co in the 2nd quarter worth about $2,460,000. Bank of New York Mellon Corp boosted its stake in Noodles & Co by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 41,914 shares of the restaurant operator’s stock worth $516,000 after purchasing an additional 5,700 shares in the last quarter. Eidelman Virant Capital boosted its stake in Noodles & Co by 9.7% in the 3rd quarter. Eidelman Virant Capital now owns 784,696 shares of the restaurant operator’s stock worth $9,494,000 after purchasing an additional 69,405 shares in the last quarter. Finally, Northpointe Capital LLC bought a new position in Noodles & Co in the 3rd quarter worth about $2,751,000. Hedge funds and other institutional investors own 61.17% of the company’s stock.

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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