Wendy’s (NASDAQ:WEN) Stock Rating Upgraded by Northcoast Research

Wendy’s (NASDAQ:WEN) was upgraded by equities research analysts at Northcoast Research from a “sell” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat.com reports.

Several other research analysts also recently weighed in on the company. Argus downgraded Wendy’s from a “buy” rating to a “sell” rating in a research note on Thursday, October 29th. BMO Capital Markets restated a “market perform” rating on shares of Wendy’s in a research note on Friday, November 6th. UBS Group decreased their price target on Wendy’s from $8.00 to $6.50 and set a “neutral” rating for the company in a report on Monday, October 26th. Morgan Stanley set a $5.50 price target on Wendy’s in a report on Monday, August 10th. Finally, Seaport Research Partners began coverage on shares of Wendy’s in a research report on Wednesday, September 16th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $7.56.

Wendy’s Price Performance

Shares of NASDAQ:WEN opened at $8.34 on Thursday. The company has a 50-day simple moving average of $6.96 and a 200-day simple moving average of $7.36. Wendy’s has a one year low of $5.94 and a one year high of $9.45. The company has a debt-to-equity ratio of 27.00, a quick ratio of 1.87 and a current ratio of 1.89. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.50 and a beta of 0.37.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings results on Thursday, November 5th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. The firm had revenue of $435.62 million for the quarter, compared to analysts’ expectations of $531.28 million. Wendy’s had a return on equity of 93.77% and a net margin of 4.40%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. On average, analysts predict that Wendy’s will post 0.51 EPS for the current year.

Institutional Investors Weigh In On Wendy’s

Hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in shares of Wendy’s by 21.7% during the 2nd quarter. Covestor Ltd now owns 9,643 shares of the restaurant operator’s stock worth $80,000 after buying an additional 1,720 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Wendy’s by 72.2% in the third quarter. Global Retirement Partners LLC now owns 5,636 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 2,363 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Wendy’s by 0.7% in the third quarter. Bessemer Group Inc. now owns 382,977 shares of the restaurant operator’s stock valued at $2,443,000 after buying an additional 2,673 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Wendy’s by 10.3% during the first quarter. The Manufacturers Life Insurance Company now owns 37,778 shares of the restaurant operator’s stock worth $263,000 after acquiring an additional 3,516 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in Wendy’s by 0.7% during the third quarter. Public Sector Pension Investment Board now owns 545,891 shares of the restaurant operator’s stock worth $3,469,000 after acquiring an additional 3,671 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.

Wendy’s Company Profile

The Wendy’s Company operates and franchises quick-service restaurants under the Wendy’s name. Founded by Dave Thomas in Columbus, Ohio, in 1969, the chain is known for hamburgers made with fresh, never-frozen beef in the United States, along with chicken sandwiches, nuggets, fries, salads and its signature Frosty dessert. Wendy’s restaurants also offer breakfast items and a range of beverages. The company serves customers in the United States and international markets through a mix of company-operated and franchised locations.