Wendy's (NASDAQ:WEN) Price Target Cut to $11.00 by Analysts at TD Cowen

Key Points

• Wendy's target price has been cut by TD Cowen from $13.00 to $11.00, maintaining a "hold" rating, which indicates potential upside from its current price.
• The company's recent quarterly earnings exceeded estimates, reporting $0.29 earnings per share, despite a decline in revenue of 1.7% year-over-year.
• Wendy's has received mixed ratings from analysts, with a consensus rating of "Hold" and an average target price of $14.36, as various firms adjust their price objectives downward.

Wendy's (NASDAQ:WEN - Get Free Report) had its target price cut by research analysts at TD Cowen from $13.00 to $11.00 in a report issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the restaurant operator's stock. TD Cowen's price objective would suggest a potential upside of 8.96% from the stock's current price.

WEN has been the topic of several other research reports. Stifel Nicolaus cut their price objective on Wendy's from $16.00 to $14.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. UBS Group reiterated a "neutral" rating and issued a $11.00 price objective (down previously from $14.00) on shares of Wendy's in a report on Wednesday, July 30th. Sanford C. Bernstein set a $13.00 price objective on Wendy's in a report on Monday, May 5th. Loop Capital cut their price objective on Wendy's from $21.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Finally, Bank of America cut their price objective on Wendy's from $13.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Wendy's currently has a consensus rating of "Hold" and an average target price of $14.36.

Wendy's Price Performance

Shares of NASDAQ:WEN traded up $0.14 during trading on Friday, reaching $10.10. The stock had a trading volume of 11,052,763 shares, compared to its average volume of 5,926,726. The company has a debt-to-equity ratio of 24.88, a quick ratio of 1.47 and a current ratio of 1.49. The business has a fifty day moving average price of $11.10 and a 200-day moving average price of $12.87. The stock has a market cap of $1.94 billion, a PE ratio of 10.78, a PEG ratio of 2.04 and a beta of 0.31. Wendy's has a 1-year low of $9.74 and a 1-year high of $20.60.

Wendy's (NASDAQ:WEN - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The restaurant operator reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.04. Wendy's had a return on equity of 85.36% and a net margin of 8.57%. Wendy's's quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS. On average, equities analysts forecast that Wendy's will post 0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CMO Lindsay J. Radkoski purchased 5,050 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was bought at an average price of $11.68 per share, with a total value of $58,984.00. Following the completion of the transaction, the chief marketing officer owned 28,956 shares of the company's stock, valued at approximately $338,206.08. This represents a 21.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.00% of the company's stock.

Hedge Funds Weigh In On Wendy's

Hedge funds have recently made changes to their positions in the business. Colonial Trust Co SC acquired a new stake in Wendy's in the fourth quarter valued at $31,000. Farther Finance Advisors LLC raised its holdings in Wendy's by 1,111.9% in the first quarter. Farther Finance Advisors LLC now owns 2,133 shares of the restaurant operator's stock valued at $31,000 after acquiring an additional 1,957 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Wendy's by 7,180.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,422 shares of the restaurant operator's stock valued at $50,000 after acquiring an additional 3,375 shares in the last quarter. Signaturefd LLC raised its holdings in Wendy's by 27.4% in the first quarter. Signaturefd LLC now owns 4,262 shares of the restaurant operator's stock valued at $62,000 after acquiring an additional 917 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Wendy's by 91.0% during the first quarter. GAMMA Investing LLC now owns 4,266 shares of the restaurant operator's stock valued at $62,000 after buying an additional 2,033 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.