Noodles & Co (NDLS) Cut to “Strong Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Noodles & Co (NASDAQ:NDLS) from a hold rating to a strong sell rating in a research report report published on Thursday, Zacks.com reports.

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. “

Other research analysts have also issued reports about the stock. BidaskClub raised shares of Noodles & Co from a sell rating to a hold rating in a research note on Tuesday, February 12th. SunTrust Banks dropped their price objective on shares of Noodles & Co to $13.00 and set a buy rating for the company in a research note on Monday, March 18th. Finally, Jefferies Financial Group raised shares of Noodles & Co from a hold rating to a buy rating and set a $11.00 price objective for the company in a research note on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $10.50.

NDLS stock opened at $7.24 on Thursday. Noodles & Co has a fifty-two week low of $5.85 and a fifty-two week high of $13.50. The company has a quick ratio of 0.41, a current ratio of 0.70 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $318.07 million, a P/E ratio of 362.00, a price-to-earnings-growth ratio of 7.09 and a beta of 0.04.

Noodles & Co (NASDAQ:NDLS) last posted its quarterly earnings data on Thursday, March 14th. The restaurant operator reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $113.20 million for the quarter, compared to analysts’ expectations of $113.76 million. Noodles & Co had a positive return on equity of 2.44% and a negative net margin of 1.84%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. Analysts predict that Noodles & Co will post 0.12 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of NDLS. Wells Fargo & Company MN boosted its stake in shares of Noodles & Co by 43.7% during the third quarter. Wells Fargo & Company MN now owns 310,694 shares of the restaurant operator’s stock valued at $3,759,000 after purchasing an additional 94,499 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Noodles & Co by 26.5% during the third quarter. Bank of New York Mellon Corp now owns 53,030 shares of the restaurant operator’s stock valued at $642,000 after purchasing an additional 11,116 shares during the period. BlackRock Inc. boosted its stake in shares of Noodles & Co by 21.5% during the third quarter. BlackRock Inc. now owns 1,143,811 shares of the restaurant operator’s stock valued at $13,840,000 after purchasing an additional 202,146 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Noodles & Co by 396.6% during the third quarter. Dimensional Fund Advisors LP now owns 101,001 shares of the restaurant operator’s stock valued at $1,222,000 after purchasing an additional 80,662 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Noodles & Co by 858.6% during the third quarter. JPMorgan Chase & Co. now owns 255,426 shares of the restaurant operator’s stock valued at $3,090,000 after purchasing an additional 228,781 shares during the period. 68.14% of the stock is owned by hedge funds and other institutional investors.

About Noodles & Co

Noodles & Company develops and operates fast-casual restaurants in the United States. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. As of January 1, 2019, the company operated 394 company-owned and 65 franchised restaurants in 29 states, and the District of Columbia.

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