Wendy’s (NASDAQ:WEN) PT Lowered to $19.50

Wendy’s (NASDAQ:WEN) had its price objective dropped by investment analysts at Wedbush from $21.00 to $19.50 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s target price would suggest a potential upside of 9.24% from the stock’s current price.

WEN has been the topic of several other research reports. UBS Group boosted their price objective on Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Truist Financial cut their price objective on Wendy’s from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Stephens reiterated an “equal weight” rating and issued a $20.00 price objective on shares of Wendy’s in a report on Tuesday, July 9th. JPMorgan Chase & Co. upped their price target on Wendy’s from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. Finally, Piper Sandler upped their price target on Wendy’s from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $21.03.

Wendy’s Trading Down 1.2 %

Shares of Wendy’s stock traded down $0.22 during trading hours on Friday, hitting $17.85. The company’s stock had a trading volume of 584,881 shares, compared to its average volume of 3,450,944. Wendy’s has a twelve month low of $15.61 and a twelve month high of $22.42. The firm has a fifty day moving average of $17.13 and a 200-day moving average of $18.31. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 1.84 and a beta of 0.76. The company has a debt-to-equity ratio of 11.21, a quick ratio of 2.02 and a current ratio of 2.04.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02. The business had revenue of $534.80 million for the quarter, compared to analyst estimates of $540.84 million. Wendy’s had a return on equity of 62.68% and a net margin of 9.44%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS. Research analysts forecast that Wendy’s will post 1 EPS for the current year.

Insider Activity at Wendy’s

In related news, CMO Juan Carlos Loredo sold 44,806 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $19.50, for a total value of $873,717.00. Following the completion of the sale, the chief marketing officer now directly owns 27,586 shares of the company’s stock, valued at $537,927. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 17.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wendy’s

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its position in shares of Wendy’s by 22.2% during the fourth quarter. Russell Investments Group Ltd. now owns 3,220 shares of the restaurant operator’s stock worth $63,000 after buying an additional 586 shares during the period. Private Wealth Strategies L.L.C. boosted its position in shares of Wendy’s by 4.6% during the fourth quarter. Private Wealth Strategies L.L.C. now owns 17,867 shares of the restaurant operator’s stock worth $348,000 after buying an additional 789 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Wendy’s by 5.6% during the first quarter. Janney Montgomery Scott LLC now owns 15,170 shares of the restaurant operator’s stock worth $286,000 after buying an additional 801 shares during the period. HB Wealth Management LLC boosted its position in shares of Wendy’s by 5.5% during the fourth quarter. HB Wealth Management LLC now owns 15,461 shares of the restaurant operator’s stock worth $301,000 after buying an additional 805 shares during the period. Finally, Paradigm Financial Partners LLC boosted its position in shares of Wendy’s by 3.5% during the fourth quarter. Paradigm Financial Partners LLC now owns 24,355 shares of the restaurant operator’s stock worth $474,000 after buying an additional 820 shares during the period. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Wendy’s Company Profile

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.