Benchmark Trims Noodles & Company (NASDAQ:NDLS) Target Price to $3.00

Noodles & Company (NASDAQ:NDLS) had its price objective trimmed by Benchmark from $4.00 to $3.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Separately, StockNews.com lowered Noodles & Company from a hold rating to a sell rating in a research report on Friday, March 8th.

Noodles & Company Stock Performance

Shares of NDLS opened at $1.40 on Wednesday. Noodles & Company has a 12-month low of $1.11 and a 12-month high of $5.00. The business has a 50-day simple moving average of $1.90 and a two-hundred day simple moving average of $2.45. The company has a quick ratio of 0.18, a current ratio of 0.34 and a debt-to-equity ratio of 2.95.

Noodles & Company (NASDAQ:NDLS) last issued its earnings results on Thursday, March 7th. The restaurant operator reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). Noodles & Company had a negative return on equity of 13.20% and a negative net margin of 1.96%. The firm had revenue of $124.32 million during the quarter, compared to analyst estimates of $124.95 million. As a group, analysts predict that Noodles & Company will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Noodles & Company

A number of institutional investors have recently made changes to their positions in the stock. Valeo Financial Advisors LLC bought a new stake in shares of Noodles & Company during the 3rd quarter valued at about $29,000. Algert Global LLC boosted its position in shares of Noodles & Company by 56.4% during the 3rd quarter. Algert Global LLC now owns 60,510 shares of the restaurant operator’s stock valued at $149,000 after purchasing an additional 21,820 shares in the last quarter. Barclays PLC boosted its position in shares of Noodles & Company by 40.8% during the 3rd quarter. Barclays PLC now owns 65,956 shares of the restaurant operator’s stock valued at $162,000 after purchasing an additional 19,127 shares in the last quarter. Sapient Capital LLC bought a new stake in shares of Noodles & Company during the 4th quarter valued at about $301,000. Finally, Innovis Asset Management LLC boosted its position in shares of Noodles & Company by 93.5% during the 3rd quarter. Innovis Asset Management LLC now owns 118,731 shares of the restaurant operator’s stock valued at $292,000 after purchasing an additional 57,363 shares in the last quarter. Institutional investors own 65.67% of the company’s stock.

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.