Truist Financial Lowers Wendy's (NASDAQ:WEN) Price Target to $14.00

Wendy's (NASDAQ:WEN - Get Free Report) had its target price dropped by analysts at Truist Financial from $16.00 to $14.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the restaurant operator's stock. Truist Financial's price target suggests a potential upside of 23.28% from the company's current price.

A number of other research firms also recently weighed in on WEN. TD Securities decreased their price objective on Wendy's from $14.00 to $13.00 and set a "hold" rating on the stock in a report on Friday, May 2nd. Stephens reaffirmed an "equal weight" rating and issued a $14.00 price target on shares of Wendy's in a research note on Tuesday, June 17th. Stifel Nicolaus dropped their price objective on Wendy's from $16.00 to $14.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley reduced their target price on shares of Wendy's from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Monday, May 5th. Finally, BMO Capital Markets lowered their target price on shares of Wendy's from $17.00 to $15.00 and set a "market perform" rating on the stock in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $16.24.

Wendy's Stock Up 1.1%

Shares of Wendy's stock traded up $0.13 during trading on Wednesday, hitting $11.36. 3,415,468 shares of the stock traded hands, compared to its average volume of 4,635,094. The stock has a market cap of $2.18 billion, a P/E ratio of 12.09, a PEG ratio of 1.74 and a beta of 0.34. The company has a fifty day moving average price of $11.71 and a two-hundred day moving average price of $13.63. Wendy's has a twelve month low of $10.91 and a twelve month high of $20.60. The company has a debt-to-equity ratio of 24.88, a quick ratio of 1.47 and a current ratio of 1.49.

Wendy's (NASDAQ:WEN - Get Free Report) last released its earnings results 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 85.36% and a net margin of 8.57%. The firm had revenue of $523.47 million for the quarter, compared to analyst estimates of $530.11 million. During the same quarter last year, the firm posted $0.23 EPS. The company's revenue was down 2.1% on a year-over-year basis. Equities research analysts predict that Wendy's will post 0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Wendy's news, CMO Lindsay J. Radkoski bought 5,050 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average cost of $11.68 per share, with a total value of $58,984.00. Following the completion of the purchase, the chief marketing officer owned 28,956 shares in the company, valued at approximately $338,206.08. The trade was a 21.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Abigail E. Pringle sold 136,819 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $12.81, for a total value of $1,752,651.39. Following the completion of the sale, the insider owned 203,005 shares of the company's stock, valued at $2,600,494.05. This trade represents a 40.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wendy's

Institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new position in Wendy's during the 4th quarter worth about $30,000. Colonial Trust Co SC acquired a new position in shares of Wendy's during the fourth quarter worth about $31,000. Farther Finance Advisors LLC grew its holdings in shares of Wendy's by 1,111.9% during the first quarter. Farther Finance Advisors LLC now owns 2,133 shares of the restaurant operator's stock worth $31,000 after buying an additional 1,957 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Wendy's in the 4th quarter valued at approximately $46,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Wendy's by 7,180.9% in the 1st 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. 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.