Wendys (NASDAQ:WEN) had its target price boosted by analysts at JPMorgan Chase & Co. from $20.00 to $21.00 in a research report issued on Friday, June 28th, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 9.60% from the stock’s previous close.
WEN has been the subject of several other reports. Wedbush restated an “outperform” rating on shares of Purple Innovation in a research note on Wednesday, May 8th. BMO Capital Markets increased their price target on goeasy from C$55.00 to C$60.00 in a research note on Thursday, May 9th. Mizuho cut Wendys from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a research note on Wednesday, March 20th. BidaskClub cut Zebra Technologies from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Finally, Evercore ISI began coverage on LYFT in a research note on Wednesday, June 12th. They issued an “outperform” rating and a $74.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $20.33.
NASDAQ WEN traded down $0.14 during trading on Friday, reaching $19.16. 1,747,423 shares of the company’s stock were exchanged, compared to its average volume of 1,890,064. The firm’s 50 day simple moving average is $19.39. The firm has a market capitalization of $4.45 billion, a PE ratio of 32.47, a P/E/G ratio of 2.13 and a beta of 0.74. The company has a quick ratio of 2.04, a current ratio of 2.05 and a debt-to-equity ratio of 5.80. Wendys has a fifty-two week low of $14.96 and a fifty-two week high of $20.14.
In other Wendys news, COO Robert D. Wright sold 454,793 shares of Wendys stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $18.60, for a total transaction of $8,459,149.80. Following the transaction, the chief operating officer now owns 237,425 shares of the company’s stock, valued at approximately $4,416,105. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Robert D. Wright sold 126,629 shares of Wendys stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $18.74, for a total transaction of $2,373,027.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 690,532 shares of company stock worth $12,859,441. Insiders own 20.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Wendys by 3.1% in the 4th quarter. BlackRock Inc. now owns 16,707,749 shares of the restaurant operator’s stock valued at $260,806,000 after buying an additional 496,357 shares in the last quarter. Wells Fargo & Company MN grew its position in Wendys by 3.4% in the first quarter. Wells Fargo & Company MN now owns 9,736,670 shares of the restaurant operator’s stock worth $174,188,000 after acquiring an additional 317,252 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Wendys by 1.8% in the first quarter. Janus Henderson Group PLC now owns 5,419,827 shares of the restaurant operator’s stock worth $96,961,000 after purchasing an additional 98,309 shares during the last quarter. Norges Bank bought a new stake in Wendys in the fourth quarter worth $56,554,000. Finally, OppenheimerFunds Inc. lifted its stake in Wendys by 0.8% in the first quarter. OppenheimerFunds Inc. now owns 3,353,385 shares of the restaurant operator’s stock worth $59,992,000 after purchasing an additional 25,748 shares during the last quarter. 76.10% of the stock is currently owned by institutional investors.
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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