BidaskClub Upgrades Noodles & Co (NDLS) to “Strong-Buy”

BidaskClub upgraded shares of Noodles & Co (NASDAQ:NDLS) from a buy rating to a strong-buy rating in a report issued on Wednesday.

Other equities analysts have also issued research reports about the company. UBS Group lifted their price target on Noodles & Co from $4.00 to $10.00 and gave the stock a $11.80 rating in a research report on Thursday, July 19th. ValuEngine lowered Noodles & Co from a strong-buy rating to a buy rating in a research report on Friday, September 7th. CL King started coverage on Noodles & Co in a research report on Thursday, May 31st. They issued a buy rating for the company. Zacks Investment Research raised Noodles & Co from a hold rating to a buy rating and set a $14.00 price target for the company in a research report on Sunday, July 15th. Finally, Citigroup lifted their price target on Noodles & Co from $9.00 to $13.50 and gave the stock a buy rating in a research report on Thursday, June 21st. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $10.08.

NDLS opened at $12.90 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.52 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $512.10 million, a PE ratio of -645.00, a P/E/G ratio of 35.43 and a beta of -0.60. Noodles & Co has a 1 year low of $3.95 and a 1 year high of $13.30.

Noodles & Co (NASDAQ:NDLS) last posted its quarterly earnings results on Wednesday, July 18th. The restaurant operator reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $117.40 million during the quarter, compared to analysts’ expectations of $114.16 million. Noodles & Co had a negative return on equity of 0.45% and a negative net margin of 4.03%. Noodles & Co’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 EPS. sell-side analysts forecast that Noodles & Co will post 0.04 earnings per share for the current fiscal year.

In related news, major shareholder Catterton-Noodles, Llc sold 2,477,842 shares of Noodles & Co stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $10.00, for a total value of $24,778,420.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Mill Road Capital Ii, L.P. sold 387,463 shares of Noodles & Co stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $9.50, for a total value of $3,680,898.50. The disclosure for this sale can be found here. Insiders sold a total of 3,448,909 shares of company stock valued at $34,384,069 over the last quarter. 50.52% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its stake in shares of Noodles & Co by 113.2% during the 4th quarter. Deutsche Bank AG now owns 25,646 shares of the restaurant operator’s stock valued at $134,000 after purchasing an additional 13,618 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Noodles & Co during the 2nd quarter valued at about $175,000. Solstein Capital LLC bought a new stake in shares of Noodles & Co during the 2nd quarter valued at about $197,000. Macquarie Group Ltd. bought a new stake in shares of Noodles & Co during the 2nd quarter valued at about $200,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Noodles & Co during the 2nd quarter valued at about $250,000. Institutional investors own 61.83% of the company’s stock.

Noodles & Co Company Profile

Noodles & Company develops and operates fast casual restaurants in the United States. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches, and appetizers. As of January 2, 2018, the company operated 412 company-owned and 66 franchised restaurants in 29 states, the District of Columbia.

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Analyst Recommendations for Noodles & Co (NASDAQ:NDLS)

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