Noodles & Company (NASDAQ:NDLS) Receives Buy Rating from Truist Financial

Truist Financial reissued their buy rating on shares of Noodles & Company (NASDAQ:NDLS) in a research note issued to investors on Monday morning, Benzinga reports. Truist Financial currently has a $4.00 price objective on the restaurant operator’s stock.

A number of other equities research analysts have also recently weighed in on the company. StockNews.com cut Noodles & Company from a hold rating to a sell rating in a research note on Thursday, June 27th. Benchmark reissued a buy rating and set a $3.00 target price on shares of Noodles & Company in a research note on Monday, May 13th.

Noodles & Company Stock Performance

Shares of Noodles & Company stock opened at $1.67 on Monday. Noodles & Company has a one year low of $1.11 and a one year high of $3.98. The company has a market cap of $75.73 million, a price-to-earnings ratio of -5.76 and a beta of 1.78. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.17 and a current ratio of 0.31. The business’s 50 day moving average price is $1.88 and its 200 day moving average price is $2.20.

Noodles & Company (NASDAQ:NDLS) last posted its earnings results on Wednesday, May 8th. The restaurant operator reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.07. The company had revenue of $121.40 million during the quarter, compared to analysts’ expectations of $122.17 million. Noodles & Company had a negative return on equity of 26.88% and a negative net margin of 2.58%. On average, research analysts predict that Noodles & Company will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Noodles & Company

Large investors have recently modified their holdings of the business. Mill Road Capital Management LLC increased its stake in Noodles & Company by 0.3% in the 4th quarter. Mill Road Capital Management LLC now owns 6,965,291 shares of the restaurant operator’s stock valued at $21,941,000 after purchasing an additional 19,700 shares in the last quarter. Vanguard Group Inc. increased its position in Noodles & Company by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator’s stock worth $4,611,000 after buying an additional 17,000 shares in the last quarter. Sierra Summit Advisors LLC purchased a new position in Noodles & Company during the fourth quarter worth $443,000. Sapient Capital LLC purchased a new position in Noodles & Company during the fourth quarter worth $301,000. Finally, Algert Global LLC increased its position in Noodles & Company by 56.4% during the third quarter. Algert Global LLC now owns 60,510 shares of the restaurant operator’s stock worth $149,000 after buying an additional 21,820 shares in the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.

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.