Morgan Stanley Lowers Wendy's (NASDAQ:WEN) Price Target to $13.00

Wendy's (NASDAQ:WEN - Get Free Report) had its price objective decreased by equities researchers at Morgan Stanley from $14.00 to $13.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "underweight" rating on the restaurant operator's stock. Morgan Stanley's target price would indicate a potential upside of 8.42% from the company's previous close.

WEN has been the subject of a number of other reports. JPMorgan Chase & Co. raised shares of Wendy's from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $17.00 to $15.00 in a research report on Monday, May 5th. Wedbush reaffirmed a "neutral" rating and set a $16.00 price target on shares of Wendy's in a research report on Friday, March 7th. Barclays dropped their price target on Wendy's from $17.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada restated a "sector perform" rating and issued a $17.00 price objective on shares of Wendy's in a research note on Tuesday, March 4th. Finally, Argus upgraded Wendy's to a "strong-buy" rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wendy's presently has a consensus rating of "Hold" and a consensus target price of $16.34.

Wendy's Stock Down 1.1 %

NASDAQ WEN traded down $0.13 during trading hours on Monday, hitting $11.99. The company's stock had a trading volume of 3,702,716 shares, compared to its average volume of 4,280,529. The company has a market capitalization of $2.30 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 2.00 and a beta of 0.40. The company has a current ratio of 1.85, a quick ratio of 1.83 and a debt-to-equity ratio of 12.48. Wendy's has a 52 week low of $11.70 and a 52 week high of $20.60. The company's 50-day simple moving average is $13.71 and its two-hundred day simple moving average is $15.64.

Wendy's (NASDAQ:WEN - Get Free Report) last posted its earnings results on Friday, May 2nd. The restaurant operator reported $0.20 earnings per share for the quarter, meeting analysts' consensus estimates of $0.20. Wendy's had a return on equity of 75.56% and a net margin of 8.65%. The company had revenue of $523.47 million for the quarter, compared to analyst estimates of $530.11 million. During the same quarter last year, the company earned $0.23 earnings per share. The company's revenue for the quarter was down 2.1% on a year-over-year basis. Research analysts anticipate that Wendy's will post 0.99 EPS for the current fiscal year.

Insider Activity

In related news, insider Abigail E. Pringle sold 136,819 shares of Wendy's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $12.81, for a total transaction of $1,752,651.39. Following the completion of the sale, the insider now owns 203,005 shares of the company's stock, valued at approximately $2,600,494.05. This trade represents a 40.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.00% of the stock is owned by company insiders.

Institutional Trading of Wendy's

Several institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its position in shares of Wendy's by 670.3% in the fourth quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator's stock worth $25,000 after purchasing an additional 1,220 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Wendy's in the 4th quarter worth $30,000. Colonial Trust Co SC purchased a new stake in shares of Wendy's during the 4th quarter valued at $31,000. Farther Finance Advisors LLC lifted its holdings in shares of Wendy's by 1,111.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,133 shares of the restaurant operator's stock worth $31,000 after acquiring an additional 1,957 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Wendy's by 168.1% in the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the restaurant operator's stock valued at $36,000 after acquiring an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company's stock.

Wendy's Company Profile

The Wendy's Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy's U.S., Wendy's International, and Global Real Estate and Development. The Wendy's U.S. segment includes the operation and franchising of Wendy's restaurants in the U.S.