Wendys (NASDAQ:WEN) PT Set at $21.00 by Credit Suisse Group
Wendys (NASDAQ:WEN) has been given a $21.00 target price by analysts at Credit Suisse Group in a research note issued on Tuesday, TipRanks reports. The firm currently has a “hold” rating on the restaurant operator’s stock. Credit Suisse Group’s price target would suggest a potential upside of 7.03% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Evercore ISI set a $20.00 target price on shares of Wendys and gave the company a “hold” rating in a report on Wednesday, August 7th. Goldman Sachs Group began coverage on shares of Wendys in a research note on Monday, July 29th. They issued a “sell” rating and a $17.50 price target for the company. Wells Fargo & Co raised their price target on shares of Wendys from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Tuesday. SunTrust Banks lifted their price target on shares of Wendys from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, ValuEngine cut Wendys from a “buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.83.
Shares of WEN traded down $0.09 during midday trading on Tuesday, reaching $19.62. The company had a trading volume of 4,905,163 shares, compared to its average volume of 3,240,024. Wendys has a 1-year low of $14.96 and a 1-year high of $22.84. The company has a quick ratio of 1.96, a current ratio of 1.97 and a debt-to-equity ratio of 5.67. The firm has a 50 day simple moving average of $20.23 and a 200-day simple moving average of $18.92. The stock has a market cap of $4.52 billion, a PE ratio of 33.25, a price-to-earnings-growth ratio of 2.43 and a beta of 0.66.
In other news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $19.90, for a total transaction of $9,452,500.00. Following the sale, the insider now owns 5,444,270 shares of the company’s stock, valued at $108,340,973. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew H. Peltz sold 2,000,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $19.97, for a total transaction of $39,940,000.00. Following the sale, the director now directly owns 5,444,270 shares in the company, valued at approximately $108,722,071.90. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. NumerixS Investment Technologies Inc boosted its position in Wendys by 1.0% in the 1st quarter. NumerixS Investment Technologies Inc now owns 66,250 shares of the restaurant operator’s stock valued at $1,172,000 after buying an additional 625 shares during the period. Advisory Services Network LLC grew its stake 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 in the last quarter. Strs Ohio grew its stake 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 in the last quarter. Coastal Investment Advisors Inc. increased its position in shares of Wendys by 116.6% during the second 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Wendys by 9.5% during the first 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 during the period. Hedge funds and other institutional investors own 77.94% of the company’s stock.
Wendys Company Profile
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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