Noodles & Company (NASDAQ:NDLS) Lowered to Hold at StockNews.com

StockNews.com cut shares of Noodles & Company (NASDAQ:NDLSGet Rating) from a buy rating to a hold rating in a research note published on Saturday morning.

Several other research analysts have also commented on NDLS. Stephens reaffirmed an overweight rating and set a $7.00 price target on shares of Noodles & Company in a research report on Thursday, March 9th. Benchmark reaffirmed a buy rating and set a $10.00 price target on shares of Noodles & Company in a research report on Thursday, March 9th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $8.50.

Noodles & Company Stock Performance

Shares of NDLS remained flat at $4.78 during midday trading on Friday. The stock had a trading volume of 416,954 shares, compared to its average volume of 216,657. The company has a 50-day moving average price of $5.91 and a 200-day moving average price of $5.52. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.18 and a current ratio of 0.34. Noodles & Company has a fifty-two week low of $4.25 and a fifty-two week high of $6.78.

Noodles & Company (NASDAQ:NDLSGet Rating) last posted its earnings results on Wednesday, March 8th. The restaurant operator reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $136.47 million during the quarter, compared to analysts’ expectations of $135.98 million. Noodles & Company had a negative return on equity of 1.37% and a negative net margin of 0.65%. The firm’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) earnings per share. On average, analysts predict that Noodles & Company will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Mill Road Capital Iii, L.P. purchased 6,411 shares of the business’s stock in a transaction dated Friday, December 23rd. The stock was acquired at an average price of $4.95 per share, for a total transaction of $31,734.45. Following the completion of the purchase, the insider now directly owns 1,021,971 shares of the company’s stock, valued at $5,058,756.45. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Noodles & Company

Several hedge funds have recently made changes to their positions in the company. Soviero Asset Management LP lifted its stake in shares of Noodles & Company by 342.8% in the 4th quarter. Soviero Asset Management LP now owns 290,000 shares of the restaurant operator’s stock worth $1,592,000 after acquiring an additional 224,511 shares during the period. Millennium Management LLC lifted its stake in shares of Noodles & Company by 126.5% in the 4th quarter. Millennium Management LLC now owns 119,451 shares of the restaurant operator’s stock worth $656,000 after acquiring an additional 66,719 shares during the period. Man Group plc acquired a new stake in shares of Noodles & Company in the 4th quarter worth $94,000. Mill Road Capital Management LLC lifted its stake in shares of Noodles & Company by 2.3% in the 4th quarter. Mill Road Capital Management LLC now owns 5,721,119 shares of the restaurant operator’s stock worth $31,409,000 after acquiring an additional 131,020 shares during the period. Finally, AWM Investment Company Inc. lifted its stake in shares of Noodles & Company by 1.3% in the 4th quarter. AWM Investment Company Inc. now owns 661,444 shares of the restaurant operator’s stock worth $3,631,000 after acquiring an additional 8,641 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

Noodles & Company Company Profile

(Get Rating)

Noodles & Co engages in the business of development and operation of fast-casual restaurants that serve noodle and pasta dishes, soups, salads, and appetizers. The firm also offers pleasant dining, pick-up, and delivery experiences by quickly preparing fresh food with friendly service. The company was founded by Aaron Kennedy in 1995 and is headquartered in Broomfield, CO.

Further Reading

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