Wendy's (NASDAQ:WEN) Price Target Raised to $16.50

Wendy's (NASDAQ:WEN - Get Free Report) had its price objective raised by research analysts at Citigroup from $15.50 to $16.50 in a report released on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the restaurant operator's stock. Citigroup's target price would suggest a potential upside of 6.25% from the company's current price.

WEN has been the topic of a number of other research reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $17.00 price objective on shares of Wendy's in a report on Tuesday. Stifel Nicolaus reduced their price objective on Wendy's from $17.00 to $16.00 and set a "hold" rating for the company in a research note on Wednesday, February 19th. Barclays boosted their price target on Wendy's from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Friday. UBS Group lifted their price objective on Wendy's from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Truist Financial reduced their target price on shares of Wendy's from $22.00 to $19.00 and set a "buy" rating for the company in a report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $18.08.

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Wendy's Stock Up 2.4 %

Shares of WEN stock traded up $0.37 during mid-day trading on Friday, hitting $15.53. The company's stock had a trading volume of 8,099,879 shares, compared to its average volume of 3,882,719. The company has a debt-to-equity ratio of 12.48, a quick ratio of 1.83 and a current ratio of 1.85. Wendy's has a 52-week low of $13.72 and a 52-week high of $20.65. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 2.00 and a beta of 0.77. The business has a 50-day moving average price of $15.08 and a 200 day moving average price of $16.94.

Wendy's (NASDAQ:WEN - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. The firm had revenue of $574.27 million for the quarter, compared to the consensus estimate of $564.17 million. Wendy's had a net margin of 8.65% and a return on equity of 75.56%. Research analysts predict that Wendy's will post 0.99 EPS for the current fiscal year.

Institutional Trading of Wendy's

Large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue grew its position in Wendy's by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 19,827 shares of the restaurant operator's stock worth $347,000 after acquiring an additional 1,345 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in Wendy's by 9.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 105,952 shares of the restaurant operator's stock valued at $1,856,000 after buying an additional 8,876 shares during the period. Capital Performance Advisors LLP bought a new stake in Wendy's in the third quarter worth $220,000. Atria Investments Inc increased its position in Wendy's by 78.7% during the third quarter. Atria Investments Inc now owns 94,442 shares of the restaurant operator's stock valued at $1,655,000 after acquiring an additional 41,586 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Wendy's by 6.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 117,025 shares of the restaurant operator's stock valued at $2,050,000 after acquiring an additional 7,558 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

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.

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