Truist Financial Cuts Wendy's (NASDAQ:WEN) Price Target to $16.00

Wendy's (NASDAQ:WEN - Get Free Report) had its price target cut by investment analysts at Truist Financial from $17.00 to $16.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the restaurant operator's stock. Truist Financial's target price would suggest a potential upside of 25.54% from the company's previous close.

Several other analysts also recently weighed in on the company. Stephens restated an "equal weight" rating and issued a $14.00 price objective on shares of Wendy's in a report on Friday. Morgan Stanley reduced their target price on Wendy's from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Monday. Argus raised shares of Wendy's to a "strong-buy" rating in a report on Tuesday, February 18th. Stifel Nicolaus decreased their target price on Wendy's from $16.00 to $14.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Finally, TD Securities cut their price target on Wendy's from $14.00 to $13.00 and set a "hold" rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $17.14.

Wendy's Trading Up 1.6 %

Shares of Wendy's stock traded up $0.20 during trading on Monday, hitting $12.75. The stock had a trading volume of 3,562,303 shares, compared to its average volume of 4,241,511. Wendy's has a 12 month low of $12.05 and a 12 month high of $20.60. The company has a debt-to-equity ratio of 12.48, a current ratio of 1.85 and a quick ratio of 1.83. The firm's fifty day simple moving average is $14.04 and its 200-day simple moving average is $15.84. The stock has a market cap of $2.50 billion, a PE ratio of 13.39, a PEG ratio of 2.00 and a beta of 0.40.

Wendy's (NASDAQ:WEN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The restaurant operator reported $0.20 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $530.11 million. During the same quarter in the previous year, the business earned $0.23 EPS. Wendy's's revenue was down 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Wendy's will post 0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Wendy's

A number of hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in Wendy's by 7.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,303,279 shares of the restaurant operator's stock worth $102,743,000 after purchasing an additional 458,106 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Wendy's by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,033,560 shares of the restaurant operator's stock valued at $65,747,000 after buying an additional 43,805 shares during the last quarter. Janus Henderson Group PLC increased its stake in Wendy's by 3.0% in the 4th quarter. Janus Henderson Group PLC now owns 3,133,832 shares of the restaurant operator's stock valued at $51,081,000 after buying an additional 90,380 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Wendy's by 5.9% in the 1st quarter. Bank of New York Mellon Corp now owns 2,577,359 shares of the restaurant operator's stock worth $37,707,000 after acquiring an additional 142,500 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Wendy's by 296.1% during the fourth quarter. Invesco Ltd. now owns 1,882,829 shares of the restaurant operator's stock worth $30,690,000 after acquiring an additional 1,407,503 shares during the period. 85.96% of the stock is currently 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 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.

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