RBC Capital Reiterates a Hold Rating on Wendy’s

By Ryan Adsit

In a report released today, David Palmer from RBC Capital reiterated a Hold rating on Wendy’s (NASDAQ: WEN), with a price target of $16. The company’s shares opened today at $15.20.

According to TipRanks.com, Palmer is a top 100 analyst with an average return of 12.1% and a 75.4% success rate. Palmer covers the Services sector, focusing on stocks such as Restaurant Brands International, Brinker International, and McDonald’s Corp.

Wendy’s has an analyst consensus of Moderate Buy, with a price target consensus of $16.79.

Based on Wendy’s’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $286 million and quarterly net profit of $22.34 million. In comparison, last year the company earned revenue of $379 million and had a net profit of $25.36 million.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2016, Trian Fund Management, L.P., a Major Shareholder at WEN bought 3,743,384 shares for a total of $47,882,628.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

The Wendy’s Co. is a hamburger company. It provides 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. The company was founded by R. David Thomas on November 15, 1969 and is headquartered in Dublin, OH.,07F0V6-E