Noodles & Company (NASDAQ:NDLS) Earns Overweight Rating from Analysts at Stephens
Equities research analysts at Stephens initiated coverage on shares of Noodles & Company (NASDAQ:NDLS – Get Rating) in a report released on Thursday, The Fly reports. The firm set an “overweight” rating on the restaurant operator’s stock.
Separately, Truist Financial dropped their price target on shares of Noodles & Company from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, July 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.60.
Noodles & Company Price Performance
Noodles & Company stock traded down $0.15 during mid-day trading on Thursday, reaching $4.61. The company had a trading volume of 190,518 shares, compared to its average volume of 279,542. Noodles & Company has a fifty-two week low of $4.25 and a fifty-two week 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 company has a market cap of $210.68 million, a P/E ratio of -41.91, a P/E/G ratio of 14.58 and a beta of 1.55. The business has a fifty day simple moving average of $5.00 and a 200 day simple moving average of $5.40.
Noodles & Company (NASDAQ:NDLS – Get Rating) last issued its earnings results on Wednesday, July 27th. The restaurant operator reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Noodles & Company had a negative net margin of 1.06% and a negative return on equity of 1.56%. The company had revenue of $131.07 million during the quarter, compared to analyst estimates of $130.91 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts predict that Noodles & Company will post 0.03 earnings per share for the current year.
In other news, major shareholder Mill Road Capital Iii, L.P. bought 103,898 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was acquired at an average price of $4.50 per share, with a total value of $467,541.00. Following the completion of the purchase, the insider now directly owns 574,476 shares of the company’s stock, valued at $2,585,142. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders acquired 409,342 shares of company stock valued at $1,899,508. Insiders own 2.10% of the company’s stock.
Hedge Funds Weigh In On Noodles & Company
A number of hedge funds have recently bought and sold shares of NDLS. Dimensional Fund Advisors LP raised its stake in Noodles & Company by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 634,423 shares of the restaurant operator’s stock worth $5,754,000 after buying an additional 6,018 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Noodles & Company by 572.3% in the fourth quarter. BNP Paribas Arbitrage SA now owns 51,118 shares of the restaurant operator’s stock valued at $464,000 after purchasing an additional 43,515 shares in the last quarter. GSA Capital Partners LLP increased its stake in Noodles & Company by 166.9% in the fourth quarter. GSA Capital Partners LLP now owns 46,877 shares of the restaurant operator’s stock valued at $425,000 after purchasing an additional 29,314 shares in the last quarter. PDT Partners LLC increased its stake in Noodles & Company by 26.4% in the fourth quarter. PDT Partners LLC now owns 38,917 shares of the restaurant operator’s stock valued at $353,000 after purchasing an additional 8,117 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its stake in Noodles & Company by 5.6% in the fourth quarter. Kennedy Capital Management Inc. now owns 758,763 shares of the restaurant operator’s stock valued at $6,882,000 after purchasing an additional 40,401 shares in the last quarter. Institutional investors own 82.96% of the company’s stock.
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. 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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