JPMorgan Chase & Co. Increases Wendys (NASDAQ:WEN) Price Target to $21.00

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.

Wendys (NASDAQ:WEN) last announced its quarterly earnings results on Wednesday, May 8th. The restaurant operator reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Wendys had a return on equity of 23.85% and a net margin of 29.16%. The firm had revenue of $408.60 million for the quarter, compared to the consensus estimate of $398.58 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. On average, analysts forecast that Wendys will post 0.63 earnings per share for the current year.

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.

About Wendys

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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