Noodles & Co (NDLS) Rating Lowered to Hold at ValuEngine

ValuEngine cut shares of Noodles & Co (NASDAQ:NDLS) from a buy rating to a hold rating in a research note published on Saturday morning.

Several other brokerages also recently issued reports on NDLS. Zacks Investment Research raised Noodles & Co from a hold rating to a buy rating and set a $15.00 target price on the stock in a research note on Thursday, October 18th. Citigroup lifted their price objective on Noodles & Co from $11.50 to $15.00 and gave the stock a buy rating in a research note on Tuesday, September 18th. BidaskClub raised Noodles & Co from a buy rating to a strong-buy rating in a research note on Wednesday, September 12th. SunTrust Banks raised Noodles & Co from a hold rating to a buy rating and lifted their price objective for the stock from $11.00 to $15.00 in a research note on Tuesday, October 16th. Finally, BMO Capital Markets lifted their price objective on Noodles & Co from $10.00 to $11.00 and gave the stock a market perform rating in a research note on Wednesday, October 24th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $11.71.

NDLS stock opened at $7.91 on Friday. Noodles & Co has a twelve month low of $4.55 and a twelve month high of $13.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.36 and a current ratio of 0.68. The stock has a market cap of $347.42 million, a PE ratio of 395.50, a P/E/G ratio of 24.65 and a beta of -0.21.

Noodles & Co (NASDAQ:NDLS) last posted its quarterly earnings data on Tuesday, October 23rd. The restaurant operator reported $0.04 earnings per share for the quarter, meeting the Zacks’ consensus estimate 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 previous year, the firm earned $0.02 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts forecast that Noodles & Co will post 0.04 earnings per share for the current fiscal year.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Noodles & Co by 65.4% during the 3rd 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 during the last quarter. BlackRock Inc. increased its position in shares of Noodles & Co by 21.5% during the 3rd 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 during the last quarter. Tenzing Global Management LLC increased its position in shares of Noodles & Co by 19.8% during the 3rd 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 during the last quarter. Castleark Management LLC bought a new position in shares of Noodles & Co during the 3rd quarter valued at approximately $9,660,000. Finally, Eidelman Virant Capital increased its position in shares of Noodles & Co by 9.7% during the 3rd 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 during the last quarter. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

About Noodles & Co

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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