Truist Financial Lowers Wendy’s (NASDAQ:WEN) Price Target to $13.00

Wendy’s (NASDAQ:WEN) had its price objective decreased by stock analysts at Truist Financial from $14.00 to $13.00 in a research note issued on Monday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price target points to a potential upside of 28.59% from the stock’s current price.

WEN has been the topic of a number of other reports. Bank of America decreased their target price on shares of Wendy’s from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Sanford C. Bernstein set a $13.00 price objective on Wendy’s in a research report on Monday, May 5th. Stifel Nicolaus dropped their target price on Wendy’s from $16.00 to $14.00 and set a “hold” rating for the company in a report on Tuesday, April 15th. Morgan Stanley reaffirmed an “underweight” rating on shares of Wendy’s in a research note on Friday. Finally, UBS Group reissued a “neutral” rating and set a $11.00 price target (down previously from $14.00) on shares of Wendy’s in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.87.

Wendy’s Stock Performance

NASDAQ WEN opened at $10.11 on Monday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 2.25 and a beta of 0.31. The stock has a 50-day moving average of $11.02 and a 200 day moving average of $12.77. The company has a current ratio of 1.45, a quick ratio of 1.43 and a debt-to-equity ratio of 28.74. Wendy’s has a twelve month low of $9.74 and a twelve month high of $20.60.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Friday, August 8th. The restaurant operator reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $560.93 million during the quarter, compared to analysts’ expectations of $558.95 million. Wendy’s had a net margin of 8.63% and a return on equity of 103.07%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. Sell-side analysts anticipate that Wendy’s will post 0.99 EPS for the current fiscal year.

Insider Transactions at Wendy’s

In related news, CMO Lindsay J. Radkoski purchased 5,050 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average cost of $11.68 per share, with a total value of $58,984.00. Following the completion of the acquisition, the chief marketing officer directly owned 28,956 shares in the company, valued at $338,206.08. The trade was a 21.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Wendy’s

Institutional investors have recently added to or reduced their stakes in the business. Colonial Trust Co SC acquired a new position in shares of Wendy’s in the 4th quarter valued at $31,000. Farther Finance Advisors LLC raised its position in shares of Wendy’s by 1,111.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,133 shares of the restaurant operator’s stock worth $31,000 after buying an additional 1,957 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Wendy’s by 35.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 4,017 shares of the restaurant operator’s stock valued at $46,000 after acquiring an additional 1,041 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Wendy’s by 7,180.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,422 shares of the restaurant operator’s stock valued at $50,000 after acquiring an additional 3,375 shares during the period. Finally, Signaturefd LLC grew its position in Wendy’s by 25.2% during the second quarter. Signaturefd LLC now owns 5,336 shares of the restaurant operator’s stock valued at $61,000 after acquiring an additional 1,074 shares during the period. 85.96% of the stock is currently owned by institutional investors and hedge funds.

About Wendy’s

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy’s U.S., Wendy’s International, and Global Real Estate and Development. The Wendy’s U.S. segment includes the operation and franchising of Wendy’s restaurants in the U.S.