Wendys (NASDAQ:WEN) Price Target Increased to $24.00 by Analysts at Telsey Advisory Group

Wendys (NASDAQ:WEN) had its target price boosted by investment analysts at Telsey Advisory Group from $22.00 to $24.00 in a research report issued on Thursday, Briefing.com Automated Import reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Telsey Advisory Group’s price objective suggests a potential upside of 15.55% from the company’s current price.

Other research analysts have also issued research reports about the stock. Oppenheimer set a $24.00 price target on shares of Wendys and gave the stock a “buy” rating in a report on Tuesday, September 10th. Cowen lowered shares of Wendys from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Monday, October 7th. Stephens set a $24.00 price target on shares of Wendys and gave the stock a “buy” rating in a report on Friday, October 11th. BMO Capital Markets raised their price target on shares of Wendys from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Co raised their price target on shares of Wendys from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $21.66.

Shares of NASDAQ WEN opened at $20.77 on Thursday. The company has a 50 day simple moving average of $20.75 and a 200 day simple moving average of $19.81. The firm has a market cap of $4.74 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.96 and a beta of 0.67. Wendys has a 1 year low of $14.96 and a 1 year high of $22.84. The company has a debt-to-equity ratio of 5.67, a current ratio of 1.97 and a quick ratio of 1.96.

Wendys (NASDAQ:WEN) last issued its quarterly earnings data on Wednesday, November 6th. The restaurant operator reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $437.88 million during the quarter, compared to analyst estimates of $434.45 million. Wendys had a net margin of 28.88% and a return on equity of 23.16%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $0.17 EPS. As a group, research analysts anticipate that Wendys will post 0.57 earnings per share for the current fiscal year.

In other news, insider E.J. Wunsch sold 3,694 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $20.51, for a total transaction of $75,763.94. Following the completion of the sale, the insider now owns 52,449 shares of the company’s stock, valued at approximately $1,075,728.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $9,452,500.00. Following the completion of the sale, the insider now directly owns 5,444,270 shares of the company’s stock, valued at approximately $108,340,973. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,478,694 shares of company stock valued at $49,468,264. Insiders own 20.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Investment Management Company LLC boosted its holdings in Wendys by 1.2% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 52,602 shares of the restaurant operator’s stock worth $1,051,000 after acquiring an additional 624 shares during the last quarter. BBVA USA Bancshares Inc. boosted its holdings in Wendys by 25.7% during the 3rd quarter. BBVA USA Bancshares Inc. now owns 13,926 shares of the restaurant operator’s stock worth $278,000 after acquiring an additional 2,850 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Wendys by 14.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,909,065 shares of the restaurant operator’s stock worth $58,123,000 after acquiring an additional 363,545 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Wendys by 176.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,445 shares of the restaurant operator’s stock worth $209,000 after acquiring an additional 6,664 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in Wendys by 33.7% during the 3rd quarter. First Trust Advisors LP now owns 577,838 shares of the restaurant operator’s stock worth $11,545,000 after acquiring an additional 145,721 shares during the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.

Wendys Company Profile

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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Analyst Recommendations for Wendys (NASDAQ:WEN)

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