Noodles & Company (NASDAQ:NDLS) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Noodles & Company from “hold” to “buy,” although Weiss Ratings reiterated a “sell (D-)” rating, leaving the stock with a consensus “Reduce” rating.
• Noodles & Company shares opened at $18.62, up 5.9%, near their 52-week high of $19.00. The company recently reported quarterly EPS of $0.18, beating the $0.05 loss analysts expected, while revenue of $127.04 million also exceeded estimates.
• Institutional investors own 65.67% of the company, with several firms—including Northwestern Mutual, Renaissance Technologies and XTX Topco—recently increasing their positions.

Noodles & Company (NASDAQ:NDLS - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Noodles & Company in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce".

Noodles & Company Stock Up 5.9%

Shares of NASDAQ:NDLS opened at $18.62 on Friday. The company has a market capitalization of $111.16 million, a price-to-earnings ratio of -4.64 and a beta of 1.38. Noodles & Company has a 52 week low of $3.57 and a 52 week high of $19.00. The firm has a 50 day moving average of $13.45 and a 200 day moving average of $9.68.

Noodles & Company (NASDAQ:NDLS - Get Free Report) last posted its earnings results on Friday, July 24th. The restaurant operator reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.23. The company had revenue of $127.04 million for the quarter, compared to analysts' expectations of $119.40 million.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in Noodles & Company during the fourth quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. boosted its stake in Noodles & Company by 34,246.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 49,802 shares of the restaurant operator's stock valued at $35,000 after acquiring an additional 49,657 shares in the last quarter. Jane Street Group LLC purchased a new position in Noodles & Company in the first quarter worth $41,000. Renaissance Technologies LLC grew its holdings in Noodles & Company by 35.7% in the fourth quarter. Renaissance Technologies LLC now owns 93,500 shares of the restaurant operator's stock worth $66,000 after purchasing an additional 24,600 shares during the last quarter. Finally, XTX Topco Ltd increased its position in shares of Noodles & Company by 228.5% during the fourth quarter. XTX Topco Ltd now owns 94,746 shares of the restaurant operator's stock worth $67,000 after purchasing an additional 65,907 shares in the last quarter. Institutional investors own 65.67% of the company's stock.

About Noodles & Company

Noodles & Company is an American fast-casual restaurant chain that specializes in a variety of noodle and pasta dishes inspired by global cuisines. Its menu features signature entrees such as the Wisconsin Mac & Cheese and Japanese Pan Noodles, alongside soups, salads, shareable sides and seasonal offerings. The brand emphasizes fresh ingredients, customizable meals and a quick-service format designed to accommodate dine-in, takeout and digital ordering channels.

The company was founded in 1995 by Aaron Kennedy in Boulder, Colorado, with the aim of introducing a diverse noodle-centric menu to the American market.

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