Noodles & Company’s (NDLS) Buy Rating Reaffirmed at Truist Financial

Noodles & Company (NASDAQ:NDLS)‘s stock had its “buy” rating reaffirmed by Truist Financial in a research note issued to investors on Monday, Benzinga reports. They currently have a $4.00 price target on the restaurant operator’s stock. Truist Financial’s price target points to a potential upside of 138.11% from the stock’s current price.

Several other equities analysts also recently issued reports on NDLS. Benchmark restated a “buy” rating and issued a $3.00 price objective on shares of Noodles & Company in a research note on Monday, May 13th. StockNews.com cut shares of Noodles & Company from a “hold” rating to a “sell” rating in a report on Thursday.

Noodles & Company Stock Up 6.3 %

NASDAQ:NDLS traded up $0.10 during trading hours on Monday, hitting $1.68. The company’s stock had a trading volume of 227,477 shares, compared to its average volume of 293,908. The company has a current ratio of 0.31, a quick ratio of 0.17 and a debt-to-equity ratio of 3.71. Noodles & Company has a 52-week low of $1.11 and a 52-week high of $3.98. The stock has a market capitalization of $76.18 million, a P/E ratio of -5.78 and a beta of 1.78. The stock has a fifty day moving average of $1.87 and a 200-day moving average of $2.21.

Noodles & Company (NASDAQ:NDLS) last released its quarterly earnings data on Wednesday, May 8th. The restaurant operator reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.07. Noodles & Company had a negative net margin of 2.58% and a negative return on equity of 26.88%. The company had revenue of $121.40 million during the quarter, compared to the consensus estimate of $122.17 million. On average, equities analysts forecast that Noodles & Company will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Noodles & Company by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator’s stock worth $4,611,000 after purchasing an additional 17,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Noodles & Company in the first quarter valued at about $32,000. Sierra Summit Advisors LLC purchased a new position in Noodles & Company in the fourth quarter valued at about $443,000. Mill Road Capital Management LLC increased its holdings in Noodles & Company by 0.3% in the fourth quarter. Mill Road Capital Management LLC now owns 6,965,291 shares of the restaurant operator’s stock valued at $21,941,000 after buying an additional 19,700 shares in the last quarter. Finally, Sapient Capital LLC purchased a new position in Noodles & Company in the fourth quarter valued at about $301,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

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.