Credit Suisse Group Increases Wendys (NASDAQ:WEN) Price Target to $22.00

Wendys (NASDAQ:WEN) had its price target upped by equities researchers at Credit Suisse Group from $21.00 to $22.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Credit Suisse Group’s target price would indicate a potential upside of 6.54% from the stock’s previous close.

WEN has been the subject of a number of other research reports. Cowen lowered shares of Wendys from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $22.00 to $20.00 in a research note on Monday, October 7th. KeyCorp reaffirmed a “hold” rating on shares of Wendys in a research note on Tuesday, October 15th. Guggenheim lowered shares of Wendys from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a research note on Monday, September 9th. SunTrust Banks raised their price objective on shares of Wendys to $26.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Piper Jaffray Companies set a $22.00 price objective on shares of Wendys and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.70.

Shares of WEN stock traded down $0.33 during trading hours on Thursday, hitting $20.65. 3,309,900 shares of the company were exchanged, compared to its average volume of 3,322,713. Wendys has a one year low of $14.96 and a one year high of $22.84. The company has a debt-to-equity ratio of 5.67, a quick ratio of 1.96 and a current ratio of 1.97. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 3.00 and a beta of 0.67. The business’s 50-day simple moving average is $20.76 and its two-hundred day simple moving average is $19.83.

Wendys (NASDAQ:WEN) last issued its earnings results on Wednesday, November 6th. The restaurant operator reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. The firm had revenue of $437.88 million during the quarter, compared to analysts’ expectations of $434.45 million. Wendys had a net margin of 28.88% and a return on equity of 23.16%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. As a group, analysts anticipate that Wendys will post 0.57 EPS for the current fiscal year.

In related news, insider E.J. Wunsch sold 3,694 shares of Wendys stock in a transaction on Friday, October 4th. The shares were sold at an average price of $20.51, for a total value of $75,763.94. Following the transaction, the insider now owns 52,449 shares in the company, valued at approximately $1,075,728.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew H. Peltz sold 2,000,000 shares of Wendys stock in a transaction on Friday, August 16th. The stock was sold at an average price of $19.97, for a total transaction of $39,940,000.00. Following the completion of the transaction, the director now owns 5,444,270 shares in the company, valued at approximately $108,722,071.90. The disclosure for this sale can be found here. Insiders have sold a total of 2,478,694 shares of company stock worth $49,468,264 in the last 90 days. 20.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Coastal Capital Group Inc. bought a new position in shares of Wendys during the 2nd quarter worth about $30,000. Coastal Investment Advisors Inc. increased its holdings in shares of Wendys by 116.6% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock worth $36,000 after purchasing an additional 978 shares during the period. Advisory Services Network LLC increased its holdings in shares of Wendys by 65.2% during the 2nd quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock worth $43,000 after purchasing an additional 849 shares during the period. Carroll Financial Associates Inc. increased its holdings in shares of Wendys by 226.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock worth $75,000 after purchasing an additional 2,658 shares during the period. Finally, Quantamental Technologies LLC bought a new position in shares of Wendys during the 2nd quarter worth about $99,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Wendys Company Profile

The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.

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