Analysts Set Noodles & Company (NASDAQ:NDLS) PT at $11.20

Shares of Noodles & Company (NASDAQ:NDLSGet Rating) have been assigned an average recommendation of “Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $11.20.

A number of brokerages recently weighed in on NDLS. StockNews.com began coverage on shares of Noodles & Company in a research report on Thursday, March 31st. They set a “hold” rating for the company. BMO Capital Markets lowered their price objective on shares of Noodles & Company from $13.00 to $8.00 in a research report on Thursday, February 24th. Piper Sandler lowered shares of Noodles & Company from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $10.00 to $7.00 in a research report on Friday, March 18th. Zacks Investment Research upgraded shares of Noodles & Company from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 22nd. Finally, Stephens lowered their price objective on shares of Noodles & Company from $16.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, February 24th.

In related news, Director Jeffrey W. Jones purchased 29,000 shares of Noodles & Company stock in a transaction that occurred on Monday, February 28th. The shares were bought at an average price of $6.90 per share, with a total value of $200,100.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC increased its position in Noodles & Company by 7.7% during the 3rd quarter. Voya Investment Management LLC now owns 17,158 shares of the restaurant operator’s stock valued at $202,000 after purchasing an additional 1,223 shares during the period. Deutsche Bank AG increased its position in Noodles & Company by 5.0% during the 4th quarter. Deutsche Bank AG now owns 25,661 shares of the restaurant operator’s stock valued at $233,000 after purchasing an additional 1,231 shares during the period. Citigroup Inc. increased its position in Noodles & Company by 135.7% during the 3rd quarter. Citigroup Inc. now owns 4,558 shares of the restaurant operator’s stock valued at $54,000 after purchasing an additional 2,624 shares during the period. Wasatch Advisors Inc. increased its position in Noodles & Company by 0.4% during the 4th quarter. Wasatch Advisors Inc. now owns 1,014,216 shares of the restaurant operator’s stock valued at $9,199,000 after purchasing an additional 3,592 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Noodles & Company by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 634,423 shares of the restaurant operator’s stock valued at $5,754,000 after purchasing an additional 6,018 shares during the period. 92.31% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:NDLS opened at $5.30 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.17 and a current ratio of 0.29. The firm has a fifty day moving average price of $6.78 and a 200 day moving average price of $9.17. Noodles & Company has a fifty-two week low of $5.11 and a fifty-two week high of $13.55. The firm has a market cap of $242.26 million, a price-to-earnings ratio of 66.26, a P/E/G ratio of 2.49 and a beta of 1.51.

Noodles & Company (NASDAQ:NDLSGet Rating) last issued its earnings results on Wednesday, February 23rd. The restaurant operator reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.13). Noodles & Company had a return on equity of 18.24% and a net margin of 0.77%. The company had revenue of $114.80 million for the quarter, compared to the consensus estimate of $120.67 million. During the same quarter in the prior year, the company posted ($0.04) EPS. Noodles & Company’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts predict that Noodles & Company will post 0.21 earnings per share for the current year.

About Noodles & Company (Get Rating)

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. As of December 28, 2021, the company operated 448 restaurants in 29 states, which included 372 company locations and 76 franchise locations.

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Analyst Recommendations for Noodles & Company (NASDAQ:NDLS)

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