Todays Report: The Noodles & Co.’s (NDLS) “Buy” Rating Reiterated at Citigroup Inc.

The Noodles & Co.’s (NDLS) “Buy” Rating Reiterated at Citigroup Inc.

Noodles & Co. (NASDAQ:NDLS)‘s stock had its “buy” rating reiterated by investment analysts at Citigroup Inc. in a note issued to investors on Wednesday. They currently have a $6.00 target price on the stock. Citigroup Inc.’s price target would suggest a potential upside of 29.03% from the company’s previous close.

A number of other equities research analysts also recently weighed in on NDLS. Jefferies Group reaffirmed a “buy” rating and set a $14.00 price objective on shares of Noodles & Co. in a report on Saturday, June 25th. Zacks Investment Research downgraded Noodles & Co. from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. BMO Capital Markets downgraded Noodles & Co. from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $15.00 to $9.00 in a report on Tuesday, July 26th. Bank of America Corp. reissued a “sell” rating on shares of Noodles & Co. in a report on Tuesday, July 26th. Finally, Piper Jaffray Cos. restated an “underweight” rating and issued a $7.00 price objective (down previously from $8.00) on shares of Noodles & Co. in a research report on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. Noodles & Co. currently has an average rating of “Hold” and an average target price of $9.63.

Noodles & Co. (NASDAQ:NDLS) traded down 1.51% during mid-day trading on Wednesday, reaching $4.58. The company had a trading volume of 74,458 shares. The stock’s market capitalization is $127.53 million. Noodles & Co. has a 52-week low of $4.51 and a 52-week high of $14.95. The company’s 50 day moving average is $6.03 and its 200 day moving average is $8.98.

Noodles & Co. (NASDAQ:NDLS) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.02. Noodles & Co. had a negative net margin of 6.50% and a negative return on equity of 2.75%. The firm had revenue of $121.40 million for the quarter, compared to the consensus estimate of $121.15 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Equities analysts predict that Noodles & Co. will post ($0.10) earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in NDLS. Bank of New York Mellon Corp boosted its stake in Noodles & Co. by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 81,122 shares of the company’s stock worth $793,000 after buying an additional 502 shares in the last quarter. State Street Corp boosted its stake in Noodles & Co. by 0.6% in the first quarter. State Street Corp now owns 165,668 shares of the company’s stock worth $1,966,000 after buying an additional 924 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Noodles & Co. by 2.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 45,490 shares of the company’s stock worth $445,000 after buying an additional 966 shares in the last quarter. US Bancorp DE boosted its stake in Noodles & Co. by 11.8% in the second quarter. US Bancorp DE now owns 13,551 shares of the company’s stock worth $132,000 after buying an additional 1,432 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Noodles & Co. by 0.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 431,190 shares of the company’s stock worth $4,217,000 after buying an additional 1,604 shares in the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.

Noodles & Co. Company Profile

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