Noodles & Company (NASDAQ:NDLS) Given New $3.00 Price Target at Truist Financial

Noodles & Company (NASDAQ:NDLS) had its price target dropped by Truist Financial from $4.00 to $3.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price objective would indicate a potential upside of 198.51% from the stock’s current price.

Separately, StockNews.com upgraded Noodles & Company from a “sell” rating to a “hold” rating in a research report on Thursday, August 29th.

Noodles & Company Stock Performance

Shares of NASDAQ NDLS traded down $0.01 during mid-day trading on Friday, hitting $1.01. 212,201 shares of the company were exchanged, compared to its average volume of 169,105. The stock has a 50 day simple moving average of $1.21 and a 200-day simple moving average of $1.57. Noodles & Company has a 1-year low of $0.99 and a 1-year high of $3.50. The company has a quick ratio of 0.17, a current ratio of 0.32 and a debt-to-equity ratio of 8.79. The firm has a market cap of $45.87 million, a price-to-earnings ratio of -1.38 and a beta of 1.73.

Noodles & Company (NASDAQ:NDLS) last released its earnings results on Wednesday, November 6th. The restaurant operator reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.05). Noodles & Company had a negative return on equity of 86.34% and a negative net margin of 6.59%. The firm had revenue of $122.75 million during the quarter, compared to analyst estimates of $125.43 million. During the same quarter last year, the business posted $0.04 EPS. On average, sell-side analysts forecast that Noodles & Company will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Noodles & Company

A number of large investors have recently made changes to their positions in NDLS. Nantahala Capital Management LLC grew its position in Noodles & Company by 6.8% during the second quarter. Nantahala Capital Management LLC now owns 4,308,329 shares of the restaurant operator’s stock worth $6,807,000 after buying an additional 275,000 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Noodles & Company in the 2nd quarter worth approximately $99,000. Creative Planning increased its stake in Noodles & Company by 83.2% in the 3rd quarter. Creative Planning now owns 132,130 shares of the restaurant operator’s stock valued at $159,000 after purchasing an additional 60,000 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Noodles & Company by 129.7% during the third quarter. Assenagon Asset Management S.A. now owns 44,491 shares of the restaurant operator’s stock worth $53,000 after purchasing an additional 25,122 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Noodles & Company by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator’s stock valued at $4,611,000 after purchasing an additional 17,000 shares during the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

About Noodles & Company

Noodles & Company, a restaurant concept company, develops and operates fast-casual restaurants. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. It operates company owned locations and franchise locations. The company was founded in 1995 and is based in Broomfield, Colorado.