Wendy’s (NASDAQ:WEN – Get Rating) had its target price lowered by analysts at Credit Suisse Group from $27.00 to $22.00 in a research report issued to clients and investors on Thursday, The Fly reports. Credit Suisse Group’s target price indicates a potential upside of 36.90% from the stock’s previous close.
Several other research firms have also recently weighed in on WEN. StockNews.com started coverage on shares of Wendy’s in a research report on Thursday, March 31st. They set a “hold” rating for the company. Evercore ISI reiterated a “buy” rating and issued a $27.00 target price on shares of Wendy’s in a report on Friday, February 25th. Tigress Financial raised their price objective on shares of Wendy’s from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 23rd. Citigroup reduced their target price on shares of Wendy’s from $23.00 to $18.50 in a research note on Thursday. Finally, Wedbush restated an “outperform” rating on shares of Wendy’s in a research report on Wednesday, March 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Wendy’s has a consensus rating of “Buy” and an average price target of $26.08.
WEN opened at $16.07 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.37 and a debt-to-equity ratio of 6.68. Wendy’s has a 12 month low of $15.77 and a 12 month 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 stock has a market capitalization of $3.46 billion, a P/E ratio of 18.06, a P/E/G ratio of 1.74 and a beta of 0.95.
Several large investors have recently made changes to their positions in WEN. Massachusetts Financial Services Co. MA boosted its holdings in Wendy’s by 27.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,061,354 shares of the restaurant operator’s stock valued at $239,811,000 after acquiring an additional 2,353,413 shares during the last quarter. Norges Bank acquired a new stake in Wendy’s during the fourth quarter valued at approximately $31,793,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Wendy’s during the 3rd quarter worth approximately $26,016,000. Goldman Sachs Group Inc. increased its position in Wendy’s by 112.2% in the 3rd quarter. Goldman Sachs Group Inc. now owns 2,172,909 shares of the restaurant operator’s stock valued at $47,109,000 after acquiring an additional 1,148,728 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Wendy’s in the 4th quarter valued at approximately $22,589,000. 69.97% of the stock is owned by institutional investors and hedge funds.
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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