Noodles & Company (NDLS) Receives $4.50 Consensus Price Target from Brokerages

Noodles & Company (NASDAQ:NDLS) has been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $4.50.

A number of research analysts have weighed in on the company. Zacks Investment Research downgraded Noodles & from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Wedbush reiterated a “hold” rating on shares of Noodles & in a report on Friday, August 11th. Jefferies Group LLC reiterated a “hold” rating and set a $4.50 target price (down previously from $5.50) on shares of Noodles & in a report on Friday, August 11th. Piper Jaffray Companies reiterated a “sell” rating and set a $4.00 target price on shares of Noodles & in a report on Friday, August 11th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $5.00 target price on shares of Noodles & in a report on Thursday, June 22nd.

Several institutional investors and hedge funds have recently modified their holdings of the company. Catterton Management Company L.L.C. boosted its position in shares of Noodles & by 62.5% in the 2nd quarter. Catterton Management Company L.L.C. now owns 11,106,987 shares of the restaurant operator’s stock worth $43,317,000 after purchasing an additional 4,272,103 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Noodles & by 26.2% in the 1st quarter. Renaissance Technologies LLC now owns 499,400 shares of the restaurant operator’s stock worth $2,872,000 after purchasing an additional 103,600 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Noodles & by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 434,577 shares of the restaurant operator’s stock worth $1,694,000 after purchasing an additional 28,054 shares in the last quarter. State Street Corp boosted its position in shares of Noodles & by 4.6% in the 2nd quarter. State Street Corp now owns 178,219 shares of the restaurant operator’s stock worth $698,000 after purchasing an additional 7,823 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Noodles & by 0.3% in the 2nd quarter. Northern Trust Corp now owns 152,641 shares of the restaurant operator’s stock worth $596,000 after purchasing an additional 491 shares in the last quarter. 65.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Noodles & (NDLS) traded down 5.76% on Friday, reaching $4.50. The company’s stock had a trading volume of 187,999 shares. Noodles & has a 12-month low of $3.16 and a 12-month high of $6.00. The company’s market cap is $185.00 million. The company’s 50 day moving average price is $4.28 and its 200 day moving average price is $4.53.

Noodles & (NASDAQ:NDLS) last posted its earnings results on Thursday, August 10th. The restaurant operator reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Noodles & had a negative return on equity of 10.25% and a negative net margin of 17.42%. The firm had revenue of $112.79 million for the quarter, compared to analysts’ expectations of $113.98 million. During the same quarter last year, the company posted ($0.03) EPS. The firm’s revenue was down 7.1% on a year-over-year basis. Analysts forecast that Noodles & will post ($0.01) EPS for the current fiscal year.

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Noodles & Company Profile

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.

Analyst Recommendations for Noodles & (NASDAQ:NDLS)

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