Zacks Investment Research Upgrades Noodles & Co (NASDAQ:NDLS) to “Hold”

Zacks Investment Research upgraded shares of Noodles & Co (NASDAQ:NDLS) from a sell rating to a hold rating in a research note issued to investors on Saturday, 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 analysts have also issued reports about the stock. ValuEngine raised shares of Noodles & Co from a sell rating to a hold rating in a research note on Thursday, August 1st. BidaskClub upgraded shares of Noodles & Co from a sell rating to a hold rating in a research note on Sunday, September 1st. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Noodles & Co has a consensus rating of Hold and a consensus target price of $10.71.

Shares of NDLS stock opened at $6.20 on Friday. Noodles & Co has a 1 year low of $5.13 and a 1 year high of $13.50. The firm has a market capitalization of $259.38 million, a PE ratio of 310.00, a price-to-earnings-growth ratio of 3.75 and a beta of 0.26. The stock has a fifty day moving average of $6.42 and a two-hundred day moving average of $7.11. The company has a debt-to-equity ratio of 5.92, a quick ratio of 0.21 and a current ratio of 0.40.

Noodles & Co (NASDAQ:NDLS) last issued its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $120.20 million for the quarter, compared to analyst estimates of $117.72 million. Noodles & Co had a positive return on equity of 6.80% and a negative net margin of 0.07%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share. Equities research analysts predict that Noodles & Co will post 0.16 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in NDLS. Tower Research Capital LLC TRC acquired a new position in Noodles & Co in the second quarter worth approximately $31,000. Bank of Montreal Can raised its holdings in Noodles & Co by 92.4% during the 2nd quarter. Bank of Montreal Can now owns 5,026 shares of the restaurant operator’s stock worth $39,000 after buying an additional 2,414 shares during the period. US Bancorp DE raised its holdings in Noodles & Co by 61.7% during the 2nd quarter. US Bancorp DE now owns 8,596 shares of the restaurant operator’s stock worth $68,000 after buying an additional 3,279 shares during the period. Bank of America Corp DE lifted its stake in Noodles & Co by 501.6% during the fourth quarter. Bank of America Corp DE now owns 17,861 shares of the restaurant operator’s stock valued at $125,000 after buying an additional 14,892 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in Noodles & Co during the second quarter valued at about $164,000. 71.92% of the stock is currently owned by hedge funds and other institutional investors.

Noodles & Co Company Profile

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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Analyst Recommendations for Noodles & Co (NASDAQ:NDLS)

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