Wendy’s (NASDAQ:WEN) Given New $22.00 Price Target at BMO Capital Markets

Wendy’s (NASDAQ:WEN) had its price objective raised by BMO Capital Markets from $20.00 to $22.00 in a report released on Friday, Benzinga reports. The firm currently has a “market perform” rating on the restaurant operator’s stock. BMO Capital Markets’ target price would suggest a potential upside of 10.33% from the company’s previous close.

Several other brokerages have also issued reports on WEN. Wedbush increased their price target on Wendy’s from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday. Stephens reiterated an “equal weight” rating and issued a $20.00 price target on shares of Wendy’s in a report on Thursday. Piper Sandler increased their price target on Wendy’s from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday. Sanford C. Bernstein lowered Wendy’s from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $24.00 to $20.00 in a report on Thursday, February 22nd. Finally, Gordon Haskett lowered Wendy’s from a “buy” rating to a “hold” rating and set a $21.00 target price on the stock. in a report on Tuesday, January 16th. Fourteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.60.

Wendy’s Trading Up 0.1 %

NASDAQ WEN traded up $0.02 during trading hours on Friday, hitting $19.94. 3,617,849 shares of the company’s stock were exchanged, compared to its average volume of 3,110,898. The stock has a 50-day simple moving average of $18.77 and a 200 day simple moving average of $19.04. Wendy’s has a 1-year low of $17.64 and a 1-year high of $23.90. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.97 and a beta of 0.78. The company has a current ratio of 2.19, a quick ratio of 2.18 and a debt-to-equity ratio of 10.66.

Wendy’s (NASDAQ:WEN) last released its earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. The business had revenue of $534.80 million during the quarter, compared to analysts’ expectations of $540.84 million. Wendy’s had a return on equity of 56.24% and a net margin of 9.37%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. On average, equities analysts forecast that Wendy’s will post 0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kenneth W. Gilbert sold 4,500 shares of Wendy’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $18.07, for a total value of $81,315.00. Following the completion of the transaction, the director now directly owns 31,304 shares in the company, valued at $565,663.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Wendy’s

Large investors have recently added to or reduced their stakes in the business. Highlander Capital Management LLC boosted its stake in Wendy’s by 250.0% during the fourth quarter. Highlander Capital Management LLC now owns 1,400 shares of the restaurant operator’s stock valued at $27,000 after buying an additional 1,000 shares during the period. Signaturefd LLC lifted its stake in Wendy’s by 112.0% during the third quarter. Signaturefd LLC now owns 1,444 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 763 shares during the last quarter. Spire Wealth Management lifted its stake in Wendy’s by 203.2% during the third quarter. Spire Wealth Management now owns 1,516 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 1,016 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in Wendy’s by 378.0% during the first quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 1,240 shares during the last quarter. Finally, Quarry LP bought a new stake in Wendy’s during the fourth quarter worth about $34,000. Institutional investors own 85.96% of the company’s stock.

Wendy’s Company Profile

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.