Noodles & Company (NASDAQ:NDLS) Price Target Cut to $3.00

Noodles & Company (NASDAQ:NDLS) had its price objective cut by investment analysts at Benchmark from $4.00 to $3.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Benchmark’s target price indicates a potential upside of 114.29% from the company’s previous close.

Separately, StockNews.com lowered shares of Noodles & Company from a “hold” rating to a “sell” rating in a research note on Friday, March 8th.

Noodles & Company Stock Up 7.7 %

Shares of NASDAQ NDLS opened at $1.40 on Wednesday. The company has a current ratio of 0.34, a quick ratio of 0.18 and a debt-to-equity ratio of 2.95. The firm has a fifty day simple moving average of $1.97 and a two-hundred day simple moving average of $2.47. The firm has a market capitalization of $62.99 million, a PE ratio of -6.36 and a beta of 1.65. Noodles & Company has a 12 month low of $1.11 and a 12 month high of $5.00.

Noodles & Company (NASDAQ:NDLS) last announced its quarterly earnings results on Thursday, March 7th. The restaurant operator reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The company had revenue of $124.32 million for the quarter, compared to analysts’ expectations of $124.95 million. Noodles & Company had a negative net margin of 1.96% and a negative return on equity of 13.20%. Equities analysts expect that Noodles & Company will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC acquired a new stake in shares of Noodles & Company during the 3rd quarter worth about $29,000. Algert Global LLC lifted its stake in Noodles & Company by 56.4% during the third quarter. Algert Global LLC now owns 60,510 shares of the restaurant operator’s stock worth $149,000 after purchasing an additional 21,820 shares during the last quarter. Barclays PLC lifted its stake in Noodles & Company by 40.8% in the third quarter. Barclays PLC now owns 65,956 shares of the restaurant operator’s stock valued at $162,000 after buying an additional 19,127 shares during the last quarter. Sapient Capital LLC purchased a new stake in Noodles & Company in the fourth quarter valued at approximately $301,000. Finally, Innovis Asset Management LLC raised its stake in shares of Noodles & Company by 93.5% during the third quarter. Innovis Asset Management LLC now owns 118,731 shares of the restaurant operator’s stock worth $292,000 after purchasing an additional 57,363 shares during the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Noodles & Company Company Profile

Noodles & Company, a restaurant concept company, develops and operates fast-casual restaurants. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. It operates company owned locations and franchise locations. The company was founded in 1995 and is based in Broomfield, Colorado.