Noodles & Co.’s (NDLS) “Buy” Rating Reiterated at Citigroup Inc.
Noodles & Co. (NASDAQ:NDLS)‘s stock had its “buy” rating reissued by investment analysts at Citigroup Inc. in a report issued on Wednesday. They currently have a $6.00 price target on the stock. Citigroup Inc.’s price target suggests a potential upside of 29.03% from the company’s current price.
A number of other research analysts also recently commented on the company. Zacks Investment Research raised Noodles & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, September 21st. Piper Jaffray Cos. reaffirmed an “underweight” rating and set a $7.00 target price (down previously from $8.00) on shares of Noodles & Co. in a report on Wednesday, July 27th. Bank of America Corp. reaffirmed a “sell” rating on shares of Noodles & Co. in a report on Tuesday, July 26th. Jefferies Group reaffirmed a “buy” rating and set a $14.00 target price on shares of Noodles & Co. in a report on Saturday, June 25th. Finally, Robert W. Baird reaffirmed a “neutral” rating on shares of Noodles & Co. in a report on Thursday, September 8th. Three 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. Noodles & Co. presently has an average rating of “Hold” and an average price target of $9.63.
Noodles & Co. (NASDAQ:NDLS) traded down 1.51% on Wednesday, reaching $4.58. The company’s stock had a trading volume of 74,458 shares. Noodles & Co. has a 52 week low of $4.51 and a 52 week high of $14.95. The firm’s 50 day moving average price is $6.03 and its 200-day moving average price is $8.98. The company’s market capitalization is $127.53 million.
Noodles & Co. (NASDAQ:NDLS) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.02. The business earned $121.40 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. On average, equities analysts predict that Noodles & Co. will post ($0.10) EPS for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Emerald Acquisition Ltd. acquired a new stake in Noodles & Co. during the second quarter valued at approximately $3,605,000. Geode Capital Management LLC boosted its stake in Noodles & Co. by 9.2% in the first quarter. Geode Capital Management LLC now owns 137,447 shares of the company’s stock valued at $1,630,000 after buying an additional 11,525 shares in the last quarter. 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 valued at $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 valued at $1,966,000 after buying an additional 924 shares in the last quarter. Finally, 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 valued at $445,000 after buying an additional 966 shares in the last quarter. Hedge funds and other 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.
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