Telsey Advisory Group Increases Wendys (NASDAQ:WEN) Price Target to $24.00

Wendys (NASDAQ:WEN) had its target price raised by equities research analysts at Telsey Advisory Group from $22.00 to $24.00 in a research report issued to clients and investors on Thursday, Briefing.com Automated Import reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Telsey Advisory Group’s target price points to a potential upside of 16.22% from the company’s previous close.

WEN has been the subject of several other research reports. Cowen lowered Wendys from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $22.00 to $20.00 in a report on Monday, October 7th. Evercore ISI set a $20.00 price objective on Wendys and gave the stock a “hold” rating in a report on Wednesday, August 7th. Longbow Research set a $25.00 price objective on Wendys and gave the stock a “buy” rating in a report on Friday, September 13th. Morgan Stanley lifted their price objective on Wendys from $19.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, Stifel Nicolaus set a $22.00 price objective on Wendys and gave the stock a “hold” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.70.

Shares of Wendys stock traded down $0.33 on Thursday, reaching $20.65. 3,309,900 shares of the company’s stock were exchanged, compared to its average volume of 3,322,713. Wendys has a 52 week low of $14.96 and a 52 week high of $22.84. The company has a market capitalization of $4.81 billion, a P/E ratio of 35.00, a price-to-earnings-growth ratio of 3.00 and a beta of 0.67. The firm’s 50-day moving average is $20.76 and its two-hundred day moving average is $19.83. The company has a debt-to-equity ratio of 5.67, a quick ratio of 1.96 and a current ratio of 1.97.

Wendys (NASDAQ:WEN) last announced its earnings results on Wednesday, November 6th. The restaurant operator reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04. Wendys had a return on equity of 23.16% and a net margin of 28.88%. The firm had revenue of $437.88 million during the quarter, compared to analyst estimates of $434.45 million. During the same period last year, the firm posted $0.17 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. On average, analysts expect that Wendys will post 0.57 EPS for the current fiscal year.

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In other news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of Wendys stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $19.90, for a total transaction of $9,452,500.00. Following the completion of the sale, the insider now owns 5,444,270 shares in the company, valued at approximately $108,340,973. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew H. Peltz sold 2,000,000 shares of Wendys stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $19.97, for a total value of $39,940,000.00. Following the sale, the director now owns 5,444,270 shares of the company’s stock, valued at approximately $108,722,071.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,478,694 shares of company stock valued at $49,468,264. 20.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of WEN. Coastal Capital Group Inc. bought a new stake in shares of Wendys during the 2nd quarter valued at about $30,000. Coastal Investment Advisors Inc. raised its holdings in shares of Wendys by 116.6% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 978 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Wendys by 65.2% during the 2nd quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock valued at $43,000 after buying an additional 849 shares in the last quarter. Carroll Financial Associates Inc. raised its holdings in shares of Wendys by 226.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock valued at $75,000 after buying an additional 2,658 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in shares of Wendys during the 2nd quarter valued at about $99,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

About Wendys

The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.

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Analyst Recommendations for Wendys (NASDAQ:WEN)

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