Zacks Investment Research lowered shares of Noodles & Company (NASDAQ:NDLS) from a hold rating to a sell rating in a report published on Tuesday.
According to Zacks, “Noodles & Company is a fast casual restaurant which offers lunch and dinner. It serves noodles, pastas, salads, soups, sandwiches, cheese, meatballs and beverages. The company operates in the United States. Noodles & Company is based in Broomfield, Colorado. “
Other analysts have also recently issued reports about the company. Jefferies Group LLC reissued a hold rating and set a $4.50 target price (down from $5.50) on shares of Noodles & in a research note on Friday, August 11th. Wedbush reissued a hold rating on shares of Noodles & in a research note on Friday, August 11th. Piper Jaffray Companies reissued a sell rating and set a $4.00 target price on shares of Noodles & in a research note on Friday, August 11th. BMO Capital Markets set a $4.00 target price on Noodles & and gave the stock a hold rating in a research note on Friday, November 10th. Finally, SunTrust Banks, Inc. reissued a hold rating and set a $5.00 target price on shares of Noodles & in a research note on Thursday, October 12th. Four equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $4.57.
Shares of Noodles & (NDLS) traded up $0.05 during trading hours on Tuesday, hitting $5.05. 108,406 shares of the company were exchanged, compared to its average volume of 169,216. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.31 and a current ratio of 0.57. Noodles & has a 1-year low of $3.16 and a 1-year high of $6.00.
Noodles & (NASDAQ:NDLS) last announced its quarterly earnings results on Thursday, November 9th. The restaurant operator reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The business had revenue of $114.20 million for the quarter, compared to the consensus estimate of $114.45 million. Noodles & had a negative net margin of 17.41% and a negative return on equity of 6.83%. Noodles &’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the company posted ($0.04) EPS. analysts forecast that Noodles & will post -0.03 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently modified their holdings of NDLS. Catterton Management Company L.L.C. grew its stake in shares of Noodles & by 62.5% during 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 acquiring an additional 4,272,103 shares in the last quarter. Salem Investment Counselors Inc. bought a new position in shares of Noodles & during the 3rd quarter worth approximately $1,327,000. Eidelman Virant Capital grew its stake in shares of Noodles & by 106.7% during the 3rd quarter. Eidelman Virant Capital now owns 372,000 shares of the restaurant operator’s stock worth $1,636,000 after acquiring an additional 192,000 shares in the last quarter. Royce & Associates LP grew its stake in shares of Noodles & by 433.3% during the 3rd quarter. Royce & Associates LP now owns 200,000 shares of the restaurant operator’s stock worth $880,000 after acquiring an additional 162,500 shares in the last quarter. Finally, Crescent Grove Advisors LLC bought a new position in shares of Noodles & during the 2nd quarter worth approximately $455,000. 65.43% of the stock is owned by institutional investors.
About Noodles &
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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