Noodles & Co (NDLS) Raised to Hold at BidaskClub

Noodles & Co (NASDAQ:NDLS) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Noodles & Co from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research note on Wednesday, January 9th. Royal Bank of Canada cut Noodles & Co from an “outperform” rating to a “sector perform” rating and set a $8.50 price objective on the stock. in a research note on Sunday, December 9th. ValuEngine cut Noodles & Co from a “buy” rating to a “hold” rating in a research note on Saturday, December 1st. Piper Jaffray Companies upgraded Noodles & Co from an “underweight” rating to a “neutral” rating and set a $10.00 price objective on the stock in a research note on Thursday, November 8th. Finally, Citigroup lowered their price objective on Noodles & Co from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, October 30th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $10.68.

Shares of Noodles & Co stock opened at $7.44 on Tuesday. Noodles & Co has a 52-week low of $5.95 and a 52-week high of $13.50. The stock has a market capitalization of $308.77 million, a P/E ratio of -372.00, a PEG ratio of 5.74 and a beta of 0.08. The company has a current ratio of 0.68, a quick ratio of 0.36 and a debt-to-equity ratio of 0.91.

In other news, major shareholder Catterton-Noodles, Llc sold 1,858,387 shares of the company’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $8.90, for a total transaction of $16,539,644.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 50.52% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Capital Management LLC increased its position in shares of Noodles & Co by 224.3% during the fourth quarter. SG Capital Management LLC now owns 1,030,686 shares of the restaurant operator’s stock valued at $7,204,000 after buying an additional 712,827 shares during the period. FIL Ltd bought a new stake in shares of Noodles & Co during the third quarter valued at about $4,209,000. Schwab Charles Investment Management Inc. increased its position in shares of Noodles & Co by 55.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 85,611 shares of the restaurant operator’s stock valued at $1,054,000 after buying an additional 30,618 shares during the period. JPMorgan Chase & Co. increased its position in shares of Noodles & Co by 858.6% during the third quarter. JPMorgan Chase & Co. now owns 255,426 shares of the restaurant operator’s stock valued at $3,090,000 after buying an additional 228,781 shares during the period. Finally, Tenzing Global Management LLC increased its position in shares of Noodles & Co by 19.8% during the third quarter. Tenzing Global Management LLC now owns 1,000,000 shares of the restaurant operator’s stock valued at $12,100,000 after buying an additional 165,000 shares during the period. Hedge funds and other institutional investors own 74.60% of the company’s stock.

Noodles & Co Company Profile

Noodles & Company develops and operates fast casual restaurants in the United States. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches, and appetizers. As of January 2, 2018, the company operated 412 company-owned and 66 franchised restaurants in 29 states, the District of Columbia.

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Analyst Recommendations for Noodles & Co (NASDAQ:NDLS)

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