Noodles & Company (NASDAQ:NDLS) Given New $3.00 Price Target at Truist Financial

Noodles & Company (NASDAQ:NDLS) had its target price lowered by stock analysts at Truist Financial from $4.00 to $3.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s target price would suggest a potential upside of 197.03% from the stock’s previous close.

Separately, StockNews.com raised Noodles & Company from a “sell” rating to a “hold” rating in a research report on Thursday, August 29th.

Noodles & Company Stock Performance

Shares of NASDAQ NDLS remained flat at $1.01 during midday trading on Friday. 27,896 shares of the stock were exchanged, compared to its average volume of 228,707. The stock has a fifty day simple moving average of $1.23 and a 200 day simple moving average of $1.57. The company has a debt-to-equity ratio of 8.79, a current ratio of 0.32 and a quick ratio of 0.17. The company has a market cap of $46.10 million, a PE ratio of -1.80 and a beta of 1.73. Noodles & Company has a 12 month low of $0.99 and a 12 month high of $3.50.

Noodles & Company (NASDAQ:NDLS) last issued its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). Noodles & Company had a negative net margin of 5.03% and a negative return on equity of 42.03%. The firm had revenue of $127.35 million for the quarter, compared to analyst estimates of $130.45 million. During the same period in the previous year, the business earned ($0.02) EPS. As a group, equities analysts anticipate that Noodles & Company will post -0.33 EPS for the current year.

Institutional Trading of Noodles & Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in shares of Noodles & Company in the 2nd quarter valued at about $31,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Noodles & Company during the first quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Noodles & Company during the second quarter worth approximately $99,000. Creative Planning raised its stake in Noodles & Company by 83.2% in the third quarter. Creative Planning now owns 132,130 shares of the restaurant operator’s stock valued at $159,000 after buying an additional 60,000 shares during the period. Finally, Vanguard Group Inc. raised its stake in Noodles & Company by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator’s stock valued at $4,611,000 after buying an additional 17,000 shares during the period. 65.67% of the stock is owned by institutional investors.

Noodles & Company Company Profile

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. It operates company owned locations and franchise locations. The company was founded in 1995 and is based in Broomfield, Colorado.