Wendys (NASDAQ:WEN) Stock Rating Lowered by ValuEngine

Wendys (NASDAQ:WEN) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday, ValuEngine reports.

A number of other research firms have also recently weighed in on WEN. Zacks Investment Research raised Wendys from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Saturday, June 15th. Stephens lifted their price objective on Wendys to $22.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Goldman Sachs Group assumed coverage on Wendys in a research report on Monday. They set a “sell” rating and a $17.50 price objective on the stock. Bank of America set a $20.00 price objective on Wendys and gave the company a “hold” rating in a research report on Friday, May 10th. Finally, Credit Suisse Group started coverage on Wendys in a research note on Tuesday, June 25th. They set a “neutral” rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $20.19.

Shares of WEN stock traded down $0.07 during trading hours on Thursday, reaching $18.12. 1,678,646 shares of the company traded hands, compared to its average volume of 3,105,531. Wendys has a 12-month low of $14.96 and a 12-month high of $20.14. The company has a debt-to-equity ratio of 5.80, a quick ratio of 2.04 and a current ratio of 2.05. The stock has a market cap of $4.29 billion, a P/E ratio of 30.71, a P/E/G ratio of 2.05 and a beta of 0.74. The stock’s 50-day moving average price is $19.27.

Wendys (NASDAQ:WEN) last posted its quarterly earnings data on Wednesday, May 8th. The restaurant operator reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.02. Wendys had a return on equity of 23.85% and a net margin of 29.16%. The firm had revenue of $408.60 million for the quarter, compared to analysts’ expectations of $398.58 million. During the same period in the previous year, the firm earned $0.11 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts expect that Wendys will post 0.63 EPS for the current fiscal year.

In other Wendys news, COO Robert D. Wright sold 454,793 shares of Wendys stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $18.60, for a total value of $8,459,149.80. Following the sale, the chief operating officer now owns 237,425 shares of the company’s stock, valued at approximately $4,416,105. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 690,532 shares of company stock worth $12,859,441. Corporate insiders own 20.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in Wendys by 3.4% in the 1st quarter. Wells Fargo & Company MN now owns 9,736,670 shares of the restaurant operator’s stock worth $174,188,000 after acquiring an additional 317,252 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Wendys by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 5,419,827 shares of the restaurant operator’s stock valued at $96,961,000 after purchasing an additional 98,309 shares during the last quarter. Norges Bank bought a new position in shares of Wendys during the 4th quarter valued at approximately $56,554,000. OppenheimerFunds Inc. increased its position in shares of Wendys by 0.8% during the 1st quarter. OppenheimerFunds Inc. now owns 3,353,385 shares of the restaurant operator’s stock valued at $59,992,000 after purchasing an additional 25,748 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Wendys by 57.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,956,664 shares of the restaurant operator’s stock valued at $52,895,000 after purchasing an additional 1,074,389 shares during the last quarter. 76.45% of the stock is currently owned by institutional investors and hedge funds.

About Wendys

The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.

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