Noodles & Company (NASDAQ:NDLS) Receives Average Recommendation of “Buy” from Brokerages

Noodles & Company (NASDAQ:NDLSGet Rating) has earned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $11.20.

A number of analysts have commented on NDLS shares. Zacks Investment Research raised Noodles & Company from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 22nd. Stephens reduced their target price on Noodles & Company from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, February 24th. TheStreet downgraded Noodles & Company from a “c-” rating to a “d” rating in a research note on Thursday, April 28th. BMO Capital Markets dropped their price objective on Noodles & Company from $13.00 to $8.00 in a research note on Thursday, February 24th. Finally, Piper Sandler downgraded Noodles & Company from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $7.00 in a research note on Friday, March 18th.

Shares of NASDAQ:NDLS opened at $6.05 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.29 and a quick ratio of 0.15. The business’s 50-day moving average is $5.60 and its 200-day moving average is $7.54. Noodles & Company has a 1 year low of $4.62 and a 1 year high of $13.55.

Noodles & Company (NASDAQ:NDLSGet Rating) last issued its earnings results on Wednesday, April 27th. The restaurant operator reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04. Noodles & Company had a positive return on equity of 4.04% and a negative net margin of 0.16%. The business had revenue of $112.56 million during the quarter, compared to analyst estimates of $113.14 million. During the same period in the previous year, the company posted ($0.02) EPS. Equities analysts anticipate that Noodles & Company will post 0.13 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. MBM Wealth Consultants LLC purchased a new stake in Noodles & Company in the first quarter worth about $30,000. Citigroup Inc. lifted its holdings in shares of Noodles & Company by 135.7% during the third quarter. Citigroup Inc. now owns 4,558 shares of the restaurant operator’s stock valued at $54,000 after purchasing an additional 2,624 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new position in shares of Noodles & Company during the first quarter valued at approximately $86,000. MetLife Investment Management LLC lifted its holdings in shares of Noodles & Company by 15.3% during the first quarter. MetLife Investment Management LLC now owns 14,584 shares of the restaurant operator’s stock valued at $87,000 after purchasing an additional 1,937 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Noodles & Company by 383.3% during the third quarter. BNP Paribas Arbitrage SA now owns 7,603 shares of the restaurant operator’s stock valued at $90,000 after purchasing an additional 6,030 shares during the last quarter. Institutional investors own 93.04% of the company’s stock.

About Noodles & Company (Get Rating)

Noodles & Company, a restaurant concept company, develops and operates fast-casual restaurants. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. As of December 28, 2021, the company operated 448 restaurants in 29 states, which included 372 company locations and 76 franchise locations.

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