Benchmark Trims Noodles & Company (NASDAQ:NDLS) Target Price to $3.00

Noodles & Company (NASDAQ:NDLS) had its target price cut by equities research analysts at Benchmark from $4.00 to $3.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Benchmark’s target price points to a potential upside of 113.52% from the company’s current price.

Separately, StockNews.com downgraded Noodles & Company from a “hold” rating to a “sell” rating in a report on Friday, March 8th.

Noodles & Company Trading Up 8.1 %

NDLS opened at $1.41 on Wednesday. The company has a quick ratio of 0.18, a current ratio of 0.34 and a debt-to-equity ratio of 2.95. Noodles & Company has a 52 week low of $1.11 and a 52 week high of $5.00. The business’s fifty day simple moving average is $1.93 and its 200 day simple moving average is $2.46.

Noodles & Company (NASDAQ:NDLS) last released its quarterly earnings data on Thursday, March 7th. The restaurant operator reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The firm had revenue of $124.32 million during the quarter, compared to analysts’ expectations of $124.95 million. Noodles & Company had a negative return on equity of 13.20% and a negative net margin of 1.96%. As a group, equities analysts predict that Noodles & Company will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Noodles & Company

Several hedge funds have recently modified their holdings of NDLS. Valeo Financial Advisors LLC purchased a new stake in shares of Noodles & Company during the 3rd quarter valued at about $29,000. Barclays PLC increased its holdings in Noodles & Company by 40.8% during the 3rd quarter. Barclays PLC now owns 65,956 shares of the restaurant operator’s stock worth $162,000 after purchasing an additional 19,127 shares during the last quarter. Innovis Asset Management LLC increased its holdings in Noodles & Company by 93.5% during the 3rd quarter. Innovis Asset Management LLC now owns 118,731 shares of the restaurant operator’s stock worth $292,000 after purchasing an additional 57,363 shares during the last quarter. Algert Global LLC increased its holdings in Noodles & Company by 56.4% during the 3rd quarter. Algert Global LLC now owns 60,510 shares of the restaurant operator’s stock worth $149,000 after purchasing an additional 21,820 shares during the last quarter. Finally, Sapient Capital LLC purchased a new stake in Noodles & Company during the 4th quarter worth approximately $301,000. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

About Noodles & Company

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. It operates company owned locations and franchise locations. The company was founded in 1995 and is based in Broomfield, Colorado.