Noodles & Company (NASDAQ:NDLS) Given New $3.00 Price Target at Benchmark

Noodles & Company (NASDAQ:NDLS) had its target price lowered by Benchmark from $4.00 to $3.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

Separately, StockNews.com downgraded Noodles & Company from a hold rating to a sell rating in a research report on Friday, March 8th.

Noodles & Company Stock Down 7.1 %

NASDAQ NDLS opened at $1.30 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. Noodles & Company has a one year low of $1.11 and a one year high of $5.00. The stock has a 50 day moving average price of $1.95 and a 200-day moving average price of $2.47.

Noodles & Company (NASDAQ:NDLS) last issued 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 during the quarter, compared to the consensus estimate of $124.95 million. Noodles & Company had a negative return on equity of 13.20% and a negative net margin of 1.96%. On average, equities analysts forecast that Noodles & Company will post -0.31 EPS for the current year.

Institutional Trading of Noodles & Company

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sierra Summit Advisors LLC purchased a new stake in Noodles & Company in the fourth quarter worth $443,000. Mill Road Capital Management LLC increased its stake in Noodles & Company by 0.3% in the fourth quarter. Mill Road Capital Management LLC now owns 6,965,291 shares of the restaurant operator’s stock worth $21,941,000 after purchasing an additional 19,700 shares during the period. Sapient Capital LLC purchased a new stake in Noodles & Company in the fourth quarter worth $301,000. Algert Global LLC increased its stake in Noodles & Company by 56.4% in 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 period. Finally, Innovis Asset Management LLC increased its stake in Noodles & Company by 93.5% in 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 period. 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.