Truist Financial Has Lowered Expectations for Wendy’s (NASDAQ:WEN) Stock Price

Wendy’s (NASDAQ:WEN) had its price target reduced by stock analysts at Truist Financial from $22.00 to $19.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s target price would suggest a potential upside of 32.87% from the company’s previous close.

A number of other brokerages have also commented on WEN. Stephens restated an “equal weight” rating and set a $15.00 target price on shares of Wendy’s in a research report on Thursday. The Goldman Sachs Group cut their target price on shares of Wendy’s from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Thursday, February 6th. Wedbush upped their target price on shares of Wendy’s from $15.50 to $16.00 and gave the company a “neutral” rating in a research report on Friday. Morgan Stanley restated an “underweight” rating and set a $14.00 target price (down from $22.00) on shares of Wendy’s in a research report on Tuesday, January 21st. Finally, UBS Group cut their target price on shares of Wendy’s from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.93.

Wendy’s Stock Down 3.1 %

Shares of NASDAQ:WEN opened at $14.30 on Friday. Wendy’s has a 12 month low of $13.72 and a 12 month high of $20.65. The company’s 50-day moving average price is $15.55 and its two-hundred day moving average price is $17.11. The company has a quick ratio of 2.08, a current ratio of 2.10 and a debt-to-equity ratio of 12.64. The firm has a market cap of $2.92 billion, a P/E ratio of 15.05, a P/E/G ratio of 2.27 and a beta of 0.77.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings data on Thursday, February 13th. The restaurant operator reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Wendy’s had a net margin of 8.76% and a return on equity of 70.02%. The firm had revenue of $574.27 million for the quarter, compared to analyst estimates of $564.17 million. As a group, research analysts forecast that Wendy’s will post 0.99 EPS for the current fiscal year.

Institutional Trading of Wendy’s

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in Wendy’s by 670.3% during the 4th quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator’s stock worth $25,000 after buying an additional 1,220 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Wendy’s during the 4th quarter worth approximately $30,000. GAMMA Investing LLC raised its holdings in Wendy’s by 168.1% during the 4th quarter. GAMMA Investing LLC now owns 2,233 shares of the restaurant operator’s stock worth $36,000 after buying an additional 1,400 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of Wendy’s during the 4th quarter worth approximately $46,000. Finally, AM Squared Ltd bought a new position in shares of Wendy’s during the 3rd quarter worth approximately $49,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

About Wendy’s

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It offers hamburgers and related products, such as chicken breast sandwiches, nuggets, chili, and baked potatoes, French fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts, and kid’s meals.