Noodles & Co. (NASDAQ:NDLS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “Noodles & Company is a fast casual restaurant which offers lunch and dinner. It serves noodles, pastas, salads, soups, sandwiches, cheese, meatballs and beverages. The company operates in the United States. Noodles & Company is based in Broomfield, Colorado. “

NDLS has been the subject of several other research reports. Bank of America Corp. reissued a “sell” rating and issued a $8.00 price objective on shares of Noodles & Co. in a report on Friday, August 5th. Wedbush dropped their price target on Noodles & Co. from $11.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, August 5th. Piper Jaffray Cos. restated an “underweight” rating and issued a $6.00 price target (down previously from $7.00) on shares of Noodles & Co. in a research note on Monday, August 8th. Jefferies Group dropped their price target on Noodles & Co. from $8.50 to $7.00 and set a “hold” rating on the stock in a research note on Friday, August 5th. Finally, BMO Capital Markets set a $8.00 price target on Noodles & Co. and gave the company a “hold” rating in a research note on Friday, August 5th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $10.38.

Shares of Noodles & Co. (NASDAQ:NDLS) opened at 4.65 on Wednesday. The firm’s market cap is $129.48 million. The stock has a 50 day moving average of $6.03 and a 200 day moving average of $8.98. Noodles & Co. has a 52 week low of $4.63 and a 52 week high of $14.95.

Noodles & Co. (NASDAQ:NDLS) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.02. The company earned $121.40 million during the quarter, compared to analyst estimates of $121.15 million. Noodles & Co. had a negative net margin of 6.50% and a negative return on equity of 2.75%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. Analysts anticipate that Noodles & Co. will post ($0.10) earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of 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 during the last quarter. State Street Corp boosted its position in shares of 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 during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of 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 during the last quarter. US Bancorp DE boosted its position in shares of 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 during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of 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 during the last quarter. Institutional investors own 96.89% of the company’s stock.

About Noodles & Co.

Noodles & Company develops and operates fast casual restaurants. The Company’s menu includes a range of cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches and appetizers. The Company has approximately 490 restaurants, including 420 Company-owned and 70 franchised locations, across 40 states, the District of Columbia and one Canadian province.

5 Day Chart for NASDAQ:NDLS

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