Noodles & Co. (NASDAQ:NDLS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
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. “
A number of other brokerages have also recently commented on NDLS. Bank of America Corp. reaffirmed a “sell” rating on shares of Noodles & Co. in a research report on Tuesday, July 26th. Jefferies Group lowered Noodles & Co. from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a research note on Tuesday, July 26th. BMO Capital Markets lowered Noodles & Co. from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $15.00 to $9.00 in a research note on Tuesday, July 26th. Piper Jaffray Cos. reiterated an “underweight” rating and set a $7.00 price objective (down from $8.00) on shares of Noodles & Co. in a research note on Wednesday, July 27th. Finally, Wedbush decreased their price objective on Noodles & Co. from $11.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $10.38.
Shares of Noodles & Co. (NASDAQ:NDLS) opened at 4.65 on Wednesday. The stock’s 50 day moving average price is $6.03 and its 200-day moving average price is $8.98. The firm’s market capitalization is $129.48 million. Noodles & Co. has a 52 week low of $4.63 and a 52 week high of $14.95.
Noodles & Co. (NASDAQ:NDLS) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.02. Noodles & Co. had a negative net margin of 6.50% and a negative return on equity of 2.75%. The firm had revenue of $121.40 million for the quarter, compared to analysts’ expectations of $121.15 million. During the same period in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts predict that Noodles & Co. will post ($0.10) earnings per share for the current year.
Several institutional investors have recently bought and sold shares of NDLS. Emerald Acquisition Ltd. purchased a new position in Noodles & Co. during the second quarter worth about $3,605,000. Geode Capital Management LLC boosted its position in Noodles & Co. by 9.2% in the first quarter. Geode Capital Management LLC now owns 137,447 shares of the company’s stock worth $1,630,000 after buying an additional 11,525 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Noodles & Co. by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 81,122 shares of the company’s stock worth $793,000 after buying an additional 502 shares during the last quarter. State Street Corp boosted its position in Noodles & Co. by 0.6% in the first quarter. State Street Corp now owns 165,668 shares of the company’s stock worth $1,966,000 after buying an additional 924 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Noodles & Co. by 2.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 45,490 shares of the company’s stock worth $445,000 after buying an additional 966 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.
About Noodles & Co.
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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