Wendys (NASDAQ:WEN) Given a $21.00 Price Target at Credit Suisse Group

Wendys (NASDAQ:WEN) has been assigned a $21.00 price objective by investment analysts at Credit Suisse Group in a report released on Tuesday, TipRanks reports. The brokerage presently has a “hold” rating on the restaurant operator’s stock. Credit Suisse Group’s target price would suggest a potential upside of 7.03% from the company’s current price.

Several other brokerages also recently weighed in on WEN. SunTrust Banks raised their price target on Wendys from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday. BTIG Research lowered Wendys from a “buy” rating to a “neutral” rating in a research note on Tuesday. ValuEngine downgraded shares of Wendys from a “buy” rating to a “hold” rating in a report on Tuesday. Longbow Research reaffirmed a “buy” rating on shares of Wendys in a research report on Wednesday, September 4th. Finally, BidaskClub cut shares of Wendys from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $20.83.

Shares of WEN stock traded down $0.09 during trading hours on Tuesday, reaching $19.62. 4,905,163 shares of the company’s stock were exchanged, compared to its average volume of 3,240,024. Wendys has a fifty-two week low of $14.96 and a fifty-two week high of $22.84. The stock’s 50 day moving average is $20.23 and its 200-day moving average is $18.92. The company has a current ratio of 1.97, a quick ratio of 1.96 and a debt-to-equity ratio of 5.67. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 33.25, a P/E/G ratio of 2.43 and a beta of 0.66.

Wendys (NASDAQ:WEN) last posted its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. Wendys had a return on equity of 23.16% and a net margin of 28.88%. The firm had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $439.64 million. During the same quarter last year, the firm earned $0.14 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts anticipate that Wendys will post 0.63 EPS for the current year.

In other Wendys news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.90, for a total value of $9,452,500.00. Following the sale, the insider now directly owns 5,444,270 shares of the company’s stock, valued at $108,340,973. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew H. Peltz sold 2,000,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $19.97, for a total transaction of $39,940,000.00. Following the completion of the sale, the director now directly owns 5,444,270 shares in the company, valued at $108,722,071.90. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WEN. NumerixS Investment Technologies Inc boosted its holdings in Wendys by 1.0% during the first quarter. NumerixS Investment Technologies Inc now owns 66,250 shares of the restaurant operator’s stock worth $1,172,000 after buying an additional 625 shares in the last quarter. Advisory Services Network LLC raised its position in shares of Wendys by 65.2% in the second quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock worth $43,000 after acquiring an additional 849 shares during the period. Strs Ohio raised its position in shares of Wendys by 4.7% in the second quarter. Strs Ohio now owns 20,492 shares of the restaurant operator’s stock worth $401,000 after acquiring an additional 913 shares during the period. Coastal Investment Advisors Inc. boosted its stake in shares of Wendys by 116.6% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock worth $36,000 after acquiring an additional 978 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Wendys by 9.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,322 shares of the restaurant operator’s stock worth $220,000 after acquiring an additional 1,074 shares in the last quarter. Institutional investors and hedge funds own 77.94% of the company’s stock.

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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