BidaskClub Lowers Noodles & Co (NDLS) to Hold

BidaskClub lowered shares of Noodles & Co (NASDAQ:NDLS) from a buy rating to a hold rating in a report issued on Wednesday.

NDLS has been the topic of a number of other reports. Zacks Investment Research cut Noodles & Co from a strong-buy rating to a hold rating in a research note on Friday, October 26th. Piper Jaffray Companies raised Noodles & Co from an underweight rating to a neutral rating and set a $10.00 target price on the stock in a research note on Thursday, November 8th. Citigroup cut their target price on Noodles & Co from $15.00 to $12.00 and set a buy rating on the stock in a research note on Tuesday, October 30th. ValuEngine raised Noodles & Co from a buy rating to a strong-buy rating in a research note on Saturday, August 18th. Finally, SunTrust Banks raised Noodles & Co from a hold rating to a buy rating and increased their target price for the stock from $11.00 to $15.00 in a research note on Tuesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $11.71.

Shares of NDLS stock opened at $7.91 on Wednesday. Noodles & Co has a twelve month low of $4.55 and a twelve month high of $13.50. The firm has a market capitalization of $369.82 million, a P/E ratio of -395.50, a PEG ratio of 26.24 and a beta of -0.21. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.36 and a current ratio of 0.68.

Noodles & Co (NASDAQ:NDLS) last released its earnings results on Tuesday, October 23rd. The restaurant operator reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Noodles & Co had a positive return on equity of 2.23% and a negative net margin of 1.96%. The firm had revenue of $116.70 million for the quarter, compared to analysts’ expectations of $114.80 million. During the same period in the prior year, the firm posted $0.02 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Noodles & Co will post 0.04 earnings per share for the current fiscal year.

In other news, EVP Melissa Heidman sold 5,924 shares of the company’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $13.00, for a total transaction of $77,012.00. Following the transaction, the executive vice president now directly owns 31,019 shares of the company’s stock, valued at $403,247. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Catterton-Noodles, Llc sold 1,858,387 shares of the company’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $8.90, for a total value of $16,539,644.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,865,261 shares of company stock worth $16,629,006. Insiders own 50.52% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Noodles & Co by 65.4% during the third quarter. Vanguard Group Inc. now owns 1,265,393 shares of the restaurant operator’s stock valued at $15,311,000 after purchasing an additional 500,531 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Noodles & Co by 21.5% during the third quarter. BlackRock Inc. now owns 1,143,811 shares of the restaurant operator’s stock valued at $13,840,000 after purchasing an additional 202,146 shares in the last quarter. Tenzing Global Management LLC lifted its holdings in shares of Noodles & Co by 19.8% during the third quarter. Tenzing Global Management LLC now owns 1,000,000 shares of the restaurant operator’s stock valued at $12,100,000 after purchasing an additional 165,000 shares in the last quarter. Castleark Management LLC bought a new position in shares of Noodles & Co during the third quarter valued at $9,660,000. Finally, Eidelman Virant Capital lifted its holdings in shares of Noodles & Co by 9.7% during the third quarter. Eidelman Virant Capital now owns 784,696 shares of the restaurant operator’s stock valued at $9,494,000 after purchasing an additional 69,405 shares in the last quarter. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

Noodles & Co Company Profile

Noodles & Company develops and operates fast casual restaurants in the United States. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches, and appetizers. As of January 2, 2018, the company operated 412 company-owned and 66 franchised restaurants in 29 states, the District of Columbia.

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Analyst Recommendations for Noodles & Co (NASDAQ:NDLS)

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