Noodles & Co. Receives a Hold from Credit SuisseBy Jason Carr
Credit Suisse analyst Jason West reiterated a Hold rating on Noodles & Co. (NASDAQ: NDLS) today and set a price target of $4.50. The company’s shares opened today at $3.85, close to its 52-week low of $3.51.
According to TipRanks.com, West is a 5-star analyst with an average return of 6.9% and a 59.8% success rate. West covers the Services sector, focusing on stocks such as Restaurant Brands International, Buffalo Wild Wings, and Ruth’s Hospitality.
Currently, the analyst consensus on Noodles & Co. is Hold and the average price target is $5.50, representing a 42.9% upside.
In a report issued on November 4, Jefferies also reiterated a Hold rating on the stock with a $5 price target.
Based on Noodles & Co.’s latest earnings report from June 30, the company posted quarterly revenue of $121.4M and quarterly net profit of -$14.09M. In comparison, last year the company earned revenue of $117.3M and had a net profit of -$9.82M.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is neutral on the stock. Most recently, in January 2016, Mark Mears, the EVP, CMO of NDLS bought 5,000 shares for a total of $49,850.
Noodles & Co. develops and operates fast casual restaurants that serve globally inspired noodle and pasta dishes, soups, salads and sandwiches. It is a high growth, fast casual restaurant concept offering lunch and dinner within a fast growing segment of the restaurant industry. The company’s each dish is carefully hand made to guests specifications, using only the freshest ingredients. It offers noodles and pasta dishes, staples of many cuisines, with the goal of delivering fresh ingredients and flavors from around the world under one roof-from Pad Thai to Mac & Cheese. The company was founded by Aaron Kennedy in 1995 and is headquartered in Broomfield, CO.