Noodles & Company (NASDAQ:NDLS) Given New $3.00 Price Target at Benchmark

Noodles & Company (NASDAQ:NDLS) had its price objective reduced by Benchmark from $4.00 to $3.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Separately, StockNews.com lowered shares of Noodles & Company from a hold rating to a sell rating in a report on Friday, March 8th.

Noodles & Company Price Performance

Shares of Noodles & Company stock opened at $1.30 on Wednesday. Noodles & Company has a 1 year low of $1.11 and a 1 year high of $5.00. The company has a current ratio of 0.34, a quick ratio of 0.18 and a debt-to-equity ratio of 2.95. The company has a 50 day simple moving average of $1.95 and a two-hundred day simple moving average of $2.47.

Noodles & Company (NASDAQ:NDLS) last announced its earnings results on Thursday, March 7th. The restaurant operator reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.06). Noodles & Company had a negative net margin of 1.96% and a negative return on equity of 13.20%. The company had revenue of $124.32 million for the quarter, compared to the consensus estimate of $124.95 million. As a group, research analysts anticipate that Noodles & Company will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Noodles & Company

A number of hedge funds have recently made changes to their positions in NDLS. Valeo Financial Advisors LLC bought a new stake in shares of Noodles & Company in the 3rd quarter worth approximately $29,000. Barclays PLC raised its holdings in Noodles & Company by 40.8% during the 3rd quarter. Barclays PLC now owns 65,956 shares of the restaurant operator’s stock valued at $162,000 after buying an additional 19,127 shares during the last quarter. Innovis Asset Management LLC raised its holdings in Noodles & Company by 93.5% during the 3rd quarter. Innovis Asset Management LLC now owns 118,731 shares of the restaurant operator’s stock valued at $292,000 after buying an additional 57,363 shares during the last quarter. Algert Global LLC raised its holdings in Noodles & Company by 56.4% during the 3rd quarter. Algert Global LLC now owns 60,510 shares of the restaurant operator’s stock valued at $149,000 after buying an additional 21,820 shares during the last quarter. Finally, Sapient Capital LLC bought a new stake in Noodles & Company during the 4th quarter valued at $301,000. 65.67% of the stock is currently owned by institutional investors.

About Noodles & Company

Noodles & Company, a restaurant concept company, develops and operates fast-casual restaurants. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. It operates company owned locations and franchise locations. The company was founded in 1995 and is based in Broomfield, Colorado.