Shares of Noodles & Co (NASDAQ:NDLS) have received an average recommendation of “Buy” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $11.17.

A number of analysts have recently issued reports on NDLS shares. BMO Capital Markets raised their target price on shares of Noodles & Co from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 24th. SunTrust Banks upgraded shares of Noodles & Co from a “hold” rating to a “buy” rating and raised their target price for the stock from $11.00 to $15.00 in a research note on Tuesday, October 16th. ValuEngine cut shares of Noodles & Co from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 7th. BidaskClub cut shares of Noodles & Co from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 5th. Finally, Citigroup cut their target price on shares of Noodles & Co from $13.50 to $11.50 and set a “buy” rating for the company in a research note on Wednesday, August 8th.

In other news, EVP Melissa Heidman sold 5,924 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $13.00, for a total transaction of $77,012.00. Following the completion of the sale, the executive vice president now owns 31,019 shares in the company, valued at approximately $403,247. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert M. Hartnett sold 9,652 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $11.51, for a total transaction of $111,094.52. Following the transaction, the director now directly owns 96,606 shares in the company, valued at $1,111,935.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,937 shares of company stock valued at $748,702. 50.52% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Noodles & Co by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 41,914 shares of the restaurant operator’s stock worth $516,000 after acquiring an additional 5,700 shares during the period. First Midwest Bank Trust Division increased its position in Noodles & Co by 13.2% during the second quarter. First Midwest Bank Trust Division now owns 50,775 shares of the restaurant operator’s stock worth $625,000 after acquiring an additional 5,920 shares during the period. Trexquant Investment LP bought a new position in Noodles & Co during the third quarter worth about $127,000. Russell Investments Group Ltd. increased its position in Noodles & Co by 3.5% during the second quarter. Russell Investments Group Ltd. now owns 314,179 shares of the restaurant operator’s stock worth $3,864,000 after acquiring an additional 10,767 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Noodles & Co during the second quarter worth about $175,000. 64.72% of the stock is currently owned by institutional investors and hedge funds.

Shares of NDLS stock opened at $9.30 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.68 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $402.77 million, a price-to-earnings ratio of -465.00, a PEG ratio of 28.58 and a beta of -0.21. Noodles & Co has a one year low of $4.55 and a one year high of $13.50.

Noodles & Co (NASDAQ:NDLS) last posted its earnings results on Tuesday, October 23rd. The restaurant operator reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $116.70 million during the quarter, compared to analysts’ expectations of $114.80 million. Noodles & Co had a negative net margin of 1.96% and a positive return on equity of 2.23%. Noodles & Co’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. As a group, equities research analysts predict that Noodles & Co will post 0.04 earnings per share for the current fiscal year.

About Noodles & Co

Noodles & Company develops and operates fast casual restaurants in the United States. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches, and appetizers. As of January 2, 2018, the company operated 412 company-owned and 66 franchised restaurants in 29 states, the District of Columbia.

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Analyst Recommendations for Noodles & Co (NASDAQ:NDLS)

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