Noodles & Co (NASDAQ:NDLS) announced its earnings results on Tuesday. The restaurant operator reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $116.72 million for the quarter, compared to the consensus estimate of $115.34 million. Noodles & Co had a negative return on equity of 4.46% and a negative net margin of 6.43%. Noodles & Co’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) EPS.
Several research analysts have issued reports on the company. ValuEngine cut shares of Noodles & Co from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 11th. Wedbush restated a “hold” rating and issued a $5.50 price objective on shares of Noodles & Co in a research report on Wednesday, May 10th. Zacks Investment Research cut shares of Noodles & Co from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Jefferies Group LLC restated a “hold” rating and issued a $5.50 price objective on shares of Noodles & Co in a research report on Tuesday, April 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $5.00 price objective on shares of Noodles & Co in a research report on Monday, March 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Noodles & Co presently has a consensus rating of “Hold” and a consensus price target of $5.39.
Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in shares of Noodles & Co during the fourth quarter valued at $2,018,000. Netols Asset Management Inc. increased its position in Noodles & Co by 67.8% in the fourth quarter. Netols Asset Management Inc. now owns 854,438 shares of the restaurant operator’s stock valued at $3,503,000 after buying an additional 345,088 shares during the period. Renaissance Technologies LLC increased its position in Noodles & Co by 132.5% in the fourth quarter. Renaissance Technologies LLC now owns 395,800 shares of the restaurant operator’s stock valued at $1,623,000 after buying an additional 225,600 shares during the period. Federated Investors Inc. PA bought a new position in Noodles & Co during the fourth quarter valued at approximately $244,000. Finally, Vanguard Group Inc. increased its position in Noodles & Co by 8.0% in the first quarter. Vanguard Group Inc. now owns 406,523 shares of the restaurant operator’s stock valued at $2,337,000 after buying an additional 30,207 shares during the period. 87.82% of the stock is currently owned by institutional investors and hedge funds.
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About Noodles & Co
Noodles & Company develops and operates fast casual restaurants. The Company’s menu includes a range of cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches and appetizers. The Company has approximately 490 restaurants, including 420 Company-owned and 70 franchised locations, across 40 states, the District of Columbia and one Canadian province.
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