Argus Research Believes WEN Still Has Room to GrowBy Austin Angelo
Argus Research analyst John Staszak upgraded Wendy’s (NASDAQ: WEN) to Buy today and set a price target of $15. The company’s shares closed last Wednesday at $12.76, close to its 52-week high of $13.02.
According to TipRanks.com, Staszak is a 5-star analyst with an average return of 12.1% and a 65.4% success rate. Staszak covers the Services sector, focusing on stocks such as United Natural Foods, Southwest Airlines, and Cheesecake Factory.
Currently, the analyst consensus on Wendy’s is Moderate Buy and the average price target is $12.20, representing a -4.4% downside.
In a report issued on November 10, SunTrust Robinson also maintained a Buy rating on the stock with a $13 price target.
The company has a one year high of $13.02 and a one year low of $8.89. Currently, Wendy’s has an average volume of 3.85M.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WEN in relation to earlier this year.
The Wendy’s Co. is a quick-service hamburger company. The company operates through its subsidiaries, which include Wendy’s Restaurants, LLC and Wendy’s International, Inc. It provides various hamburgers and related products such as chicken breast sandwiches, nuggets, chili, baked potatoes, french fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts and kids meals. Wendy’s was founded by R. David Thomas on November 15, 1969 and is headquartered in Dublin, OH.