Wendys’ (WEN) Overweight Rating Reaffirmed at Barclays
Barclays reiterated their overweight rating on shares of Wendys (NASDAQ:WEN) in a report released on Tuesday morning, Marketbeat reports. Barclays currently has a $20.00 target price on the restaurant operator’s stock, up from their previous target price of $17.00.
Several other analysts have also recently commented on the stock. Morgan Stanley raised their price objective on shares of Wendys from $16.00 to $17.00 and gave the company an underweight rating in a research note on Thursday, November 9th. Nomura reduced their price objective on shares of Wendys from $15.00 to $14.50 and set a neutral rating for the company in a research note on Thursday, November 9th. Royal Bank of Canada reiterated a hold rating and issued a $18.00 price objective on shares of Wendys in a research note on Friday, December 22nd. Wedbush upgraded shares of Wendys from a neutral rating to an outperform rating and set a $20.00 target price for the company in a report on Wednesday, December 20th. Finally, SunTrust Banks raised their target price on shares of Wendys to $22.00 in a report on Wednesday, January 3rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $16.94.
Shares of Wendys (NASDAQ:WEN) traded down $0.03 during midday trading on Tuesday, hitting $16.79. 2,542,233 shares of the company traded hands, compared to its average volume of 3,801,712. The company has a debt-to-equity ratio of 5.83, a current ratio of 1.80 and a quick ratio of 1.78. Wendys has a 12-month low of $13.03 and a 12-month high of $17.66. The firm has a market capitalization of $4,080.00, a PE ratio of 67.16, a price-to-earnings-growth ratio of 1.99 and a beta of 0.93.
In other news, insider Scott A. Weisberg purchased 10,000 shares of the stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of $14.29 per share, for a total transaction of $142,900.00. Following the completion of the acquisition, the insider now directly owns 199,014 shares in the company, valued at approximately $2,843,910.06. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 26.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Wendys by 0.3% during the second quarter. BlackRock Inc. now owns 15,432,711 shares of the restaurant operator’s stock worth $239,362,000 after buying an additional 41,702 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Wendys during the second quarter worth about $189,448,000. Wells Fargo & Company MN grew its holdings in shares of Wendys by 4.3% during the third quarter. Wells Fargo & Company MN now owns 7,960,038 shares of the restaurant operator’s stock worth $123,620,000 after buying an additional 329,659 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Wendys by 11.0% during the second quarter. Goldman Sachs Group Inc. now owns 2,095,403 shares of the restaurant operator’s stock worth $32,500,000 after buying an additional 207,563 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Wendys by 92.4% during the third quarter. Canada Pension Plan Investment Board now owns 1,434,000 shares of the restaurant operator’s stock worth $22,270,000 after buying an additional 688,700 shares in the last quarter. Institutional investors and hedge funds own 76.39% of the company’s stock.
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Wendys Company Profile
The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.
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