Noodles & Company (NASDAQ:NDLS) Earns Overweight Rating from Analysts at Stephens

Stephens assumed coverage on shares of Noodles & Company (NASDAQ:NDLSGet Rating) in a research note released on Thursday morning, The Fly reports. The brokerage issued an overweight rating on the restaurant operator’s stock.

Separately, Truist Financial cut their target price on Noodles & Company from $13.00 to $11.00 and set a buy rating on the stock in a research note on Friday, July 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $10.60.

Noodles & Company Trading Down 3.2 %

Shares of NASDAQ NDLS opened at $4.61 on Thursday. The company has a market cap of $210.68 million, a price-to-earnings ratio of -41.91, a price-to-earnings-growth ratio of 14.58 and a beta of 1.55. Noodles & Company has a 12-month low of $4.25 and a 12-month high of $13.44. The company has a current ratio of 0.29, a quick ratio of 0.15 and a debt-to-equity ratio of 0.89. The stock’s 50 day simple moving average is $5.00 and its 200 day simple moving average is $5.40.

Noodles & Company (NASDAQ:NDLSGet Rating) last announced its earnings results on Wednesday, July 27th. The restaurant operator reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $131.07 million for the quarter, compared to the consensus estimate of $130.91 million. Noodles & Company had a negative net margin of 1.06% and a negative return on equity of 1.56%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. Equities research analysts expect that Noodles & Company will post 0.03 EPS for the current year.

Insider Activity

In other news, major shareholder Mill Road Capital Iii, L.P. purchased 98,656 shares of the stock in a transaction dated Thursday, June 30th. The shares were bought at an average cost of $4.66 per share, for a total transaction of $459,736.96. Following the transaction, the insider now owns 118,859 shares in the company, valued at $553,882.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have bought 409,342 shares of company stock worth $1,899,508. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Noodles & Company

Hedge funds have recently modified their holdings of the company. MBM Wealth Consultants LLC acquired a new position in shares of Noodles & Company during the 1st quarter valued at $30,000. Amalgamated Bank acquired a new position in shares of Noodles & Company in the 1st quarter worth $40,000. TownSquare Capital LLC acquired a new position in shares of Noodles & Company in the 2nd quarter worth $52,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Noodles & Company in the 2nd quarter worth $54,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of Noodles & Company in the 1st quarter worth $86,000. 82.96% of the stock is currently owned by institutional investors and hedge funds.

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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