Wendy's (NASDAQ:WEN) Given New $14.00 Price Target at Truist Financial

Wendy's (NASDAQ:WEN - Get Free Report) had its price target cut by research analysts at Truist Financial from $16.00 to $14.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the restaurant operator's stock. Truist Financial's price target would suggest a potential upside of 24.67% from the stock's previous close.

A number of other research firms have also recently commented on WEN. Loop Capital cut their price target on shares of Wendy's from $26.00 to $21.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Sanford C. Bernstein set a $13.00 target price on Wendy's in a report on Monday, May 5th. UBS Group cut their price target on Wendy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Morgan Stanley lowered their price objective on shares of Wendy's from $14.00 to $13.00 and set an "underweight" rating for the company in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. raised shares of Wendy's from a "neutral" rating to an "overweight" rating and cut their target price for the company from $17.00 to $15.00 in a research report on Monday, May 5th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Wendy's has an average rating of "Hold" and an average target price of $16.24.

Wendy's Price Performance

NASDAQ WEN traded down $0.06 on Wednesday, reaching $11.23. The company had a trading volume of 7,727,034 shares, compared to its average volume of 4,639,472. The stock has a market capitalization of $2.16 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.74 and a beta of 0.34. The firm's 50 day moving average price is $11.71 and its 200 day moving average price is $13.63. The company has a quick ratio of 1.47, a current ratio of 1.49 and a debt-to-equity ratio of 24.88. Wendy's has a 12 month low of $10.91 and a 12 month high of $20.60.

Wendy's (NASDAQ:WEN - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The restaurant operator reported $0.20 EPS for the quarter, meeting analysts' consensus estimates of $0.20. Wendy's had a net margin of 8.57% and a return on equity of 85.36%. The firm had revenue of $523.47 million during the quarter, compared to the consensus estimate of $530.11 million. During the same quarter last year, the firm earned $0.23 EPS. The firm's revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities analysts predict that Wendy's will post 0.99 earnings per share for the current year.

Insider Transactions at Wendy's

In other Wendy's news, CMO Lindsay J. Radkoski acquired 5,050 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were purchased at an average price of $11.68 per share, for a total transaction of $58,984.00. Following the completion of the purchase, the chief marketing officer directly owned 28,956 shares of the company's stock, valued at $338,206.08. The trade was a 21.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Abigail E. Pringle sold 136,819 shares of Wendy's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $12.81, for a total value of $1,752,651.39. Following the transaction, the insider owned 203,005 shares of the company's stock, valued at $2,600,494.05. The trade was a 40.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 17.00% of the company's stock.

Institutional Investors Weigh In On Wendy's

Several hedge funds have recently bought and sold shares of the stock. Proficio Capital Partners LLC purchased a new position in Wendy's during the fourth quarter valued at $213,000. Jones Financial Companies Lllp boosted its holdings in Wendy's by 424.5% in the 4th quarter. Jones Financial Companies Lllp now owns 6,488 shares of the restaurant operator's stock worth $106,000 after buying an additional 5,251 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Wendy's during the 4th quarter worth approximately $30,000. Raymond James Financial Inc. acquired a new position in shares of Wendy's during the fourth quarter valued at approximately $824,000. Finally, Amundi lifted its position in shares of Wendy's by 7,752.6% in the fourth quarter. Amundi now owns 190,032 shares of the restaurant operator's stock valued at $2,885,000 after acquiring an additional 187,612 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company's stock.

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.