Wendys (NASDAQ:WEN) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Friday.
A number of other research analysts have also recently commented on WEN. Argus restated a “buy” rating and issued a $16.60 target price (down previously from $19.00) on shares of Wendys in a research note on Wednesday. Citigroup raised their target price on Wendys from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, March 5th. UBS Group raised Wendys from a “sell” rating to a “neutral” rating and set a $17.00 price objective for the company in a research report on Thursday, March 1st. Longbow Research raised Wendys from a “neutral” rating to a “buy” rating in a research report on Thursday. Finally, Barclays reduced their price objective on Wendys from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $17.40.
Wendys (NASDAQ WEN) opened at $17.52 on Friday. The company has a market capitalization of $4,194.53, a P/E ratio of 39.82, a PEG ratio of 1.91 and a beta of 0.81. The company has a debt-to-equity ratio of 4.75, a current ratio of 1.78 and a quick ratio of 1.77. Wendys has a one year low of $13.03 and a one year high of $17.66.
Wendys announced that its board has approved a share buyback program on Thursday, February 15th that allows the company to repurchase $175.00 million in shares. This repurchase authorization allows the restaurant operator to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
In other Wendys news, CFO Gunther Plosch bought 5,000 shares of Wendys stock in a transaction on Wednesday, March 7th. The stock was acquired at an average price of $16.62 per share, with a total value of $83,100.00. Following the acquisition, the chief financial officer now owns 25,000 shares in the company, valued at $415,500. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Emil J. Brolick sold 540,540 shares of Wendys stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $17.14, for a total value of $9,264,855.60. Following the completion of the sale, the director now directly owns 1,371,835 shares of the company’s stock, valued at approximately $23,513,251.90. The disclosure for this sale can be found here. 26.50% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of WEN. Victory Capital Management Inc. increased its holdings in shares of Wendys by 26.8% in the 4th quarter. Victory Capital Management Inc. now owns 7,122,035 shares of the restaurant operator’s stock worth $116,944,000 after purchasing an additional 1,507,055 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Wendys by 70.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,794,882 shares of the restaurant operator’s stock worth $45,892,000 after acquiring an additional 1,152,200 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Wendys by 7.4% in the fourth quarter. Wells Fargo & Company MN now owns 8,547,151 shares of the restaurant operator’s stock worth $140,344,000 after acquiring an additional 587,113 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Wendys in the fourth quarter worth $8,224,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of Wendys by 67.9% in the third quarter. Allianz Asset Management GmbH now owns 988,592 shares of the restaurant operator’s stock worth $15,353,000 after acquiring an additional 399,664 shares during the period. 79.47% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: “Wendys (WEN) Upgraded at BidaskClub” was first posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.tickerreport.com/banking-finance/3255539/wendys-wen-upgraded-at-bidaskclub.html.
Wendys Company Profile
The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.
Receive News & Ratings for Wendys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wendys and related companies with MarketBeat.com's FREE daily email newsletter.