BMO Capital Markets Reiterates $21.00 Price Target for Wendys (NASDAQ:WEN)
Wendys (NASDAQ:WEN) received a $21.00 price objective from analysts at BMO Capital Markets in a report released on Tuesday, TipRanks reports. The firm presently has a “buy” rating on the restaurant operator’s stock. BMO Capital Markets’ target price would indicate a potential upside of 7.03% from the company’s previous close.
Several other research firms have also recently weighed in on WEN. Stephens set a $22.00 price objective on shares of Wendys and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research lowered shares of Wendys from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research report on Friday, August 23rd. Longbow Research reiterated a “buy” rating on shares of Wendys in a research report on Wednesday, September 4th. Goldman Sachs Group started coverage on shares of Wendys in a research note on Monday, July 29th. They issued a “sell” rating and a $17.50 price target for the company. Finally, BidaskClub lowered shares of Wendys from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company. Wendys has a consensus rating of “Hold” and an average price target of $20.83.
NASDAQ WEN traded down $0.09 during trading on Tuesday, reaching $19.62. The company’s stock had a trading volume of 4,905,163 shares, compared to its average volume of 3,240,024. The stock has a market capitalization of $4.52 billion, a PE ratio of 33.25, a P/E/G ratio of 2.43 and a beta of 0.66. The company has a debt-to-equity ratio of 5.67, a current ratio of 1.97 and a quick ratio of 1.96. The firm has a fifty day moving average of $20.23 and a 200 day moving average of $18.92. Wendys has a one year low of $14.96 and a one year high of $22.84.
In related news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of Wendys stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.90, for a total value of $9,452,500.00. Following the transaction, 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 available through the SEC website. Also, Director Matthew H. Peltz sold 2,000,000 shares of Wendys stock in a transaction on Friday, August 16th. The stock was sold at an average price of $19.97, for a total transaction of $39,940,000.00. Following the completion of the transaction, the director now owns 5,444,270 shares in the company, valued at approximately $108,722,071.90. The disclosure for this sale can be found here. 20.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Greenleaf Trust bought a new position in shares of Wendys during the second quarter valued at about $12,300,000. Menta Capital LLC lifted its stake in shares of Wendys by 21.0% in the 2nd quarter. Menta Capital LLC now owns 65,200 shares of the restaurant operator’s stock valued at $1,277,000 after acquiring an additional 11,318 shares during the last quarter. Foundry Partners LLC bought a new stake in shares of Wendys in the 2nd quarter valued at about $2,017,000. BB&T Securities LLC bought a new stake in shares of Wendys in the 2nd quarter valued at about $234,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Wendys during the 1st quarter valued at about $58,000. Institutional investors and hedge funds own 77.94% of the company’s stock.
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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