Todays Report: The Brokerages Set Wendy’s Co. (WEN) Price Target at $12.85

The Brokerages Set Wendy’s Co. (WEN) Price Target at $12.85

Wendy’s Co. (NASDAQ:WEN) has earned an average recommendation of “Hold” from the eighteen research firms that are currently covering the company. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $12.85.

A number of research firms recently issued reports on WEN. Vetr cut shares of Wendy’s from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a research note on Thursday, September 15th. Zacks Investment Research raised shares of Wendy’s from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, September 27th. Citigroup Inc. restated a “buy” rating and issued a $13.00 price objective on shares of Wendy’s in a report on Wednesday, October 5th. RBC Capital Markets restated a “sector perform” rating and issued a $11.00 price objective on shares of Wendy’s in a report on Saturday, August 13th. Finally, Goldman Sachs Group Inc. lowered Wendy’s from a “conviction-buy” rating to a “buy” rating and decreased their price objective for the company from $12.50 to $11.00 in a report on Thursday, August 11th.

Several institutional investors have recently made changes to their positions in WEN. A.R.T. Advisors LLC increased its position in shares of Wendy’s by 104.5% in the first quarter. A.R.T. Advisors LLC now owns 323,314 shares of the company’s stock worth $3,520,000 after buying an additional 165,200 shares in the last quarter. Bayesian Capital Management LP increased its position in shares of Wendy’s by 9.9% in the first quarter. Bayesian Capital Management LP now owns 14,496 shares of the company’s stock worth $158,000 after buying an additional 1,300 shares in the last quarter. Invictus RG bought a new position in shares of Wendy’s during the first quarter worth approximately $162,000. Renaissance Technologies LLC increased its position in shares of Wendy’s by 1,753.5% in the first quarter. Renaissance Technologies LLC now owns 1,764,182 shares of the company’s stock worth $19,212,000 after buying an additional 1,669,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Wendy’s by 1.6% in the first quarter. Geode Capital Management LLC now owns 1,487,233 shares of the company’s stock worth $16,195,000 after buying an additional 23,616 shares in the last quarter. 80.99% of the stock is owned by institutional investors and hedge funds.

Wendy’s (NASDAQ:WEN) opened at 10.89 on Wednesday. Wendy’s has a 52-week low of $8.89 and a 52-week high of $11.38. The company has a market cap of $2.85 billion, a PE ratio of 20.98 and a beta of 0.81. The firm’s 50-day moving average is $10.72 and its 200-day moving average is $10.32.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Wednesday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Wendy’s had a net margin of 8.59% and a return on equity of 15.94%. The firm had revenue of $382.70 million for the quarter, compared to analysts’ expectations of $366.92 million. During the same quarter last year, the company earned $0.08 EPS. The firm’s revenue for the quarter was down 21.8% compared to the same quarter last year. On average, equities research analysts anticipate that Wendy’s will post $0.40 EPS for the current year.

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