Wendy’s (NASDAQ:WEN) Price Target Cut to $22.00 by Analysts at Credit Suisse Group

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.

Wendy’s (NASDAQ:WEN – Get Rating) last announced its earnings results on Wednesday, May 11th. The restaurant operator reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Wendy’s had a return on equity of 35.44% and a net margin of 10.56%. During the same quarter in the prior year, the company posted $0.20 EPS. On average, equities research analysts predict that Wendy’s will post 0.84 EPS for the current fiscal year.

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.

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