Wendy’s (NASDAQ:WEN) Price Target Raised to $16.00 at Wedbush

Wendy’s (NASDAQ:WEN) had its price objective lifted by research analysts at Wedbush from $15.50 to $16.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s target price would suggest a potential upside of 8.40% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Stephens reiterated an “equal weight” rating and set a $15.00 price target on shares of Wendy’s in a report on Thursday. Truist Financial increased their target price on Wendy’s from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus decreased their price target on Wendy’s from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Friday, January 10th. BMO Capital Markets upped their price target on Wendy’s from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group reduced their price objective on Wendy’s from $17.00 to $15.00 and set a “sell” rating for the company in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.21.

Wendy’s Stock Up 3.8 %

Shares of NASDAQ:WEN opened at $14.76 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.08 and a debt-to-equity ratio of 12.64. The stock has a fifty day simple moving average of $15.61 and a two-hundred day simple moving average of $17.13. Wendy’s has a 12-month low of $13.72 and a 12-month high of $20.65. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 2.27 and a beta of 0.77.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings results on Thursday, February 13th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. Wendy’s had a return on equity of 70.02% and a net margin of 8.76%. On average, research analysts anticipate that Wendy’s will post 0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wendy’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC raised its position in shares of Wendy’s by 0.6% during the 3rd quarter. MetLife Investment Management LLC now owns 92,132 shares of the restaurant operator’s stock valued at $1,614,000 after purchasing an additional 590 shares during the period. Probity Advisors Inc. lifted its holdings in shares of Wendy’s by 6.5% in the third quarter. Probity Advisors Inc. now owns 11,689 shares of the restaurant operator’s stock worth $205,000 after buying an additional 715 shares in the last quarter. Pacer Advisors Inc. grew its stake in Wendy’s by 2.9% during the fourth quarter. Pacer Advisors Inc. now owns 25,529 shares of the restaurant operator’s stock valued at $416,000 after acquiring an additional 717 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Wendy’s by 1.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 57,400 shares of the restaurant operator’s stock valued at $979,000 after acquiring an additional 797 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in Wendy’s by 6.1% in the 4th quarter. Natixis Advisors LLC now owns 15,634 shares of the restaurant operator’s stock worth $255,000 after purchasing an additional 897 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

About Wendy’s

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It offers hamburgers and related products, such as chicken breast sandwiches, nuggets, chili, and baked potatoes, French fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts, and kid’s meals.