Barclays Cuts Wendy’s (NASDAQ:WEN) Price Target to $23.00

Wendy’s (NASDAQ:WENGet Rating) had its target price dropped by equities researchers at Barclays from $25.00 to $23.00 in a report issued on Thursday, The Fly reports. Barclays‘s price objective would indicate a potential upside of 22.08% from the stock’s current price.

A number of other research firms also recently commented on WEN. Citigroup dropped their price objective on Wendy’s from $23.00 to $18.50 in a report on Thursday, May 12th. Wedbush cut their target price on Wendy’s from $28.50 to $23.00 in a research note on Thursday, May 12th. TheStreet cut Wendy’s from a “b-” rating to a “c+” rating in a research note on Friday, May 13th. Credit Suisse Group decreased their price objective on Wendy’s from $27.00 to $22.00 in a report on Thursday, May 12th. Finally, StockNews.com started coverage on Wendy’s in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $26.03.

Shares of WEN opened at $18.84 on Thursday. The company has a 50-day moving average of $19.24 and a two-hundred day moving average of $21.35. The company has a current ratio of 2.65, a quick ratio of 2.63 and a debt-to-equity ratio of 7.48. The stock has a market cap of $4.04 billion, a P/E ratio of 21.41, a PEG ratio of 1.81 and a beta of 0.95. Wendy’s has a 12-month low of $15.77 and a 12-month high of $29.03.

Wendy’s (NASDAQ:WENGet Rating) last posted its earnings results on Wednesday, May 11th. The restaurant operator reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Wendy’s had a return on equity of 34.82% and a net margin of 10.20%. During the same quarter last year, the firm earned $0.20 EPS. As a group, analysts forecast that Wendy’s will post 0.82 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in WEN. Credit Suisse AG lifted its position in Wendy’s by 28.7% in the third quarter. Credit Suisse AG now owns 208,931 shares of the restaurant operator’s stock valued at $4,530,000 after acquiring an additional 46,567 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Wendy’s by 5.3% in the third quarter. The Manufacturers Life Insurance Company now owns 205,152 shares of the restaurant operator’s stock valued at $4,448,000 after purchasing an additional 10,397 shares during the period. Rockefeller Capital Management L.P. increased its stake in Wendy’s by 40.4% in the third quarter. Rockefeller Capital Management L.P. now owns 4,498 shares of the restaurant operator’s stock valued at $97,000 after purchasing an additional 1,295 shares during the period. Trexquant Investment LP acquired a new position in Wendy’s in the third quarter valued at $217,000. Finally, Dimensional Fund Advisors LP increased its stake in Wendy’s by 3.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,842,647 shares of the restaurant operator’s stock valued at $83,311,000 after purchasing an additional 127,552 shares during the period. 69.97% of the stock is owned by institutional investors and hedge funds.

Wendy’s Company Profile (Get Rating)

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company. It operates through three segments: Wendy's U.S., Wendy's International, and Global Real Estate & Development. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.

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