Wendys (NASDAQ:WEN) Rating Reiterated by SunTrust Banks
Wendys (NASDAQ:WEN)‘s stock had its “buy” rating reaffirmed by investment analysts at SunTrust Banks in a report issued on Wednesday, TipRanks reports.
A number of other research firms also recently issued reports on WEN. Wedbush reissued a “hold” rating and issued a $20.00 price target on shares of Wendys in a research note on Wednesday, May 8th. Evercore ISI set a $20.00 price target on shares of Wendys and gave the stock a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Wendys from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. Piper Jaffray Companies began coverage on shares of Wendys in a research report on Monday, May 13th. They set an “overweight” rating and a $22.00 price objective for the company. Finally, BidaskClub upgraded shares of Wendys from a “hold” rating to a “buy” rating in a research report on Saturday, August 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $20.05.
Wendys stock opened at $21.19 on Wednesday. The company’s 50 day simple moving average is $19.34 and its 200-day simple moving average is $18.53. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 35.92, a price-to-earnings-growth ratio of 2.29 and a beta of 0.72. Wendys has a 1 year low of $14.96 and a 1 year high of $21.35. The company has a debt-to-equity ratio of 5.67, a quick ratio of 1.96 and a current ratio of 1.97.
In other Wendys news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.90, for a total transaction of $9,452,500.00. Following the completion of the transaction, the insider now owns 5,444,270 shares in the company, valued at approximately $108,340,973. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew H. Peltz sold 2,000,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $19.97, for a total transaction of $39,940,000.00. Following the transaction, the director now owns 5,444,270 shares of the company’s stock, valued at approximately $108,722,071.90. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Greenleaf Trust acquired a new position in shares of Wendys during the 2nd quarter worth $12,300,000. Foundry Partners LLC acquired a new position in shares of Wendys during the 2nd quarter worth $2,017,000. O Shaughnessy Asset Management LLC acquired a new stake in Wendys in the 1st quarter valued at about $58,000. Wedbush Securities Inc. acquired a new stake in Wendys in the 1st quarter valued at about $213,000. Finally, Menta Capital LLC grew its stake in Wendys by 73.6% in the 1st quarter. Menta Capital LLC now owns 53,882 shares of the restaurant operator’s stock valued at $964,000 after acquiring an additional 22,845 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.
The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.
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