Noodles & Company (NASDAQ:NDLS) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Noodles & Company (NASDAQ:NDLS) announced its earnings results on Wednesday. The restaurant operator reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01), Zacks reports. The company had revenue of $122.09 million during the quarter, compared to the consensus estimate of $119.77 million.

Noodles & Company Stock Up 11.5%

Shares of Noodles & Company stock traded up $0.08 during trading on Thursday, reaching $0.74. 817,409 shares of the stock were exchanged, compared to its average volume of 369,622. The stock’s fifty day moving average is $0.67 and its 200 day moving average is $0.78. The firm has a market cap of $34.13 million, a price-to-earnings ratio of -0.78 and a beta of 1.61. Noodles & Company has a 1 year low of $0.55 and a 1 year high of $1.74.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NDLS shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Noodles & Company in a report on Wednesday, October 8th. Benchmark cut Noodles & Company from a “buy” rating to a “hold” rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.00.

Institutional Trading of Noodles & Company

A hedge fund recently raised its stake in Noodles & Company stock. Goldman Sachs Group Inc. grew its holdings in shares of Noodles & Company (NASDAQ:NDLS) by 331.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 110,666 shares of the restaurant operator’s stock after purchasing an additional 84,987 shares during the period. Goldman Sachs Group Inc. owned approximately 0.24% of Noodles & Company worth $121,000 as of its most recent SEC filing. Institutional investors and hedge funds own 65.67% of the company’s stock.

About Noodles & Company

Noodles & Co engages in the business of development and operation of fast-casual restaurants that serve noodle and pasta dishes, soups, salads, and appetizers. The firm also offers pleasant dining, pick-up, and delivery experiences by quickly preparing fresh food with friendly service. The company was founded by Aaron Kennedy in 1995 and is headquartered in Broomfield, CO.