Noodles & Company (NASDAQ:NDLS) Receives “Buy” Rating from Truist Financial

Noodles & Company (NASDAQ:NDLS)‘s stock had its “buy” rating reissued by equities researchers at Truist Financial in a report issued on Monday, Benzinga reports. They currently have a $4.00 price objective on the restaurant operator’s stock. Truist Financial’s target price points to a potential upside of 138.11% from the stock’s previous close.

Several other equities analysts also recently commented on the company. StockNews.com downgraded Noodles & Company from a “hold” rating to a “sell” rating in a research report on Thursday. Benchmark reissued a “buy” rating and set a $3.00 price target on shares of Noodles & Company in a research note on Monday, May 13th.

Noodles & Company Price Performance

Shares of Noodles & Company stock traded up $0.10 during trading hours on Monday, hitting $1.68. The company’s stock had a trading volume of 227,477 shares, compared to its average volume of 293,908. The business has a 50 day moving average price of $1.87 and a two-hundred day moving average price of $2.21. Noodles & Company has a 12-month low of $1.11 and a 12-month high of $3.98. The company has a market cap of $76.18 million, a PE ratio of -5.78 and a beta of 1.78. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.17 and a current ratio of 0.31.

Noodles & Company (NASDAQ:NDLS) last announced its quarterly earnings data on Wednesday, May 8th. The restaurant operator reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.07. Noodles & Company had a negative return on equity of 26.88% and a negative net margin of 2.58%. The business had revenue of $121.40 million for the quarter, compared to the consensus estimate of $122.17 million. Analysts expect that Noodles & Company will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Noodles & Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Noodles & Company by 0.7% during 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 last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Noodles & Company during the first quarter valued at approximately $32,000. Sierra Summit Advisors LLC purchased a new stake in Noodles & Company during the fourth quarter valued at approximately $443,000. Mill Road Capital Management LLC raised its position in Noodles & Company by 0.3% during the fourth quarter. Mill Road Capital Management LLC now owns 6,965,291 shares of the restaurant operator’s stock valued at $21,941,000 after purchasing an additional 19,700 shares during the period. Finally, Sapient Capital LLC purchased a new stake in Noodles & Company during the fourth quarter valued at approximately $301,000. 65.67% of the stock is owned by institutional investors.

About Noodles & Company

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.