Wendy’s (NASDAQ:WEN – Get Rating) had its price target reduced by research analysts at Citigroup from $23.00 to $18.50 in a note issued to investors on Thursday, The Fly reports. Citigroup’s price target suggests a potential upside of 15.12% from the company’s current price.
Several other analysts have also recently weighed in on WEN. Wedbush reissued an “outperform” rating on shares of Wendy’s in a report on Wednesday, March 2nd. BMO Capital Markets cut Wendy’s from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $28.00 to $22.00 in a research note on Monday, April 18th. Tigress Financial increased their target price on Wendy’s from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 23rd. StockNews.com began coverage on Wendy’s in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Evercore ISI reaffirmed a “buy” rating and set a $27.00 price target on shares of Wendy’s in a research report on Friday, February 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Wendy’s presently has a consensus rating of “Buy” and a consensus target price of $26.08.
Shares of WEN stock opened at $16.07 on Thursday. Wendy’s has a 1 year low of $15.77 and a 1 year high of $29.46. The firm’s fifty day simple moving average is $20.77 and its 200 day simple moving average is $21.96. The firm has a market capitalization of $3.46 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 1.74 and a beta of 0.95. The company has a current ratio of 1.39, a quick ratio of 1.37 and a debt-to-equity ratio of 6.68.
Institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its stake in Wendy’s by 27.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,061,354 shares of the restaurant operator’s stock worth $239,811,000 after purchasing an additional 2,353,413 shares during the last quarter. Norges Bank purchased a new stake in shares of Wendy’s in the fourth quarter valued at approximately $31,793,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Wendy’s in the third quarter valued at approximately $26,016,000. Goldman Sachs Group Inc. boosted its position in Wendy’s by 112.2% during the third quarter. Goldman Sachs Group Inc. now owns 2,172,909 shares of the restaurant operator’s stock worth $47,109,000 after purchasing an additional 1,148,728 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Wendy’s during the fourth quarter worth $22,589,000. Institutional investors own 69.97% of the company’s stock.
Wendy’s Company Profile (Get Rating)
The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company. It operates through three segments: Wendy's U.S., Wendy's International, and Global Real Estate & Development. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.
- Get a free copy of the StockNews.com research report on Wendy’s (WEN)
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