The Goldman Sachs Group Issues Pessimistic Forecast for Wendy’s (NASDAQ:WEN) Stock Price

Wendy’s (NASDAQ:WEN) had its target price cut by The Goldman Sachs Group from $17.00 to $15.00 in a report issued on Thursday morning,Benzinga reports. They currently have a sell rating on the restaurant operator’s stock.

WEN has been the subject of several other reports. Morgan Stanley restated an “underweight” rating and issued a $14.00 target price (down from $22.00) on shares of Wendy’s in a research note on Tuesday, January 21st. Stifel Nicolaus lowered their target price on Wendy’s from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Friday, January 10th. UBS Group reduced their price target on shares of Wendy’s from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Stephens restated an “equal weight” rating and set a $19.00 price target on shares of Wendy’s in a research note on Tuesday, November 19th. Finally, Truist Financial raised their price objective on shares of Wendy’s from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wendy’s presently has a consensus rating of “Hold” and an average target price of $19.65.

Wendy’s Stock Down 0.1 %

Wendy’s stock opened at $14.93 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.10 and a debt-to-equity ratio of 12.64. The company has a market capitalization of $3.04 billion, a PE ratio of 15.72, a PEG ratio of 2.25 and a beta of 0.77. The firm’s fifty day moving average is $15.97 and its 200 day moving average is $17.22. Wendy’s has a 12-month low of $13.98 and a 12-month high of $20.65.

Hedge Funds Weigh In On Wendy’s

Several institutional investors have recently bought and sold shares of WEN. MetLife Investment Management LLC raised its stake in shares of Wendy’s by 0.6% in the third quarter. MetLife Investment Management LLC now owns 92,132 shares of the restaurant operator’s stock valued at $1,614,000 after buying an additional 590 shares during the period. Probity Advisors Inc. increased its holdings in Wendy’s by 6.5% in the 3rd quarter. Probity Advisors Inc. now owns 11,689 shares of the restaurant operator’s stock worth $205,000 after acquiring an additional 715 shares during the last quarter. Pacer Advisors Inc. raised its stake in Wendy’s by 2.9% in the 4th quarter. Pacer Advisors Inc. now owns 25,529 shares of the restaurant operator’s stock valued at $416,000 after acquiring an additional 717 shares during the period. Truist Financial Corp lifted its holdings in Wendy’s by 1.6% during the second quarter. Truist Financial Corp now owns 51,523 shares of the restaurant operator’s stock valued at $874,000 after purchasing an additional 810 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings in Wendy’s by 21.2% during the third quarter. Hexagon Capital Partners LLC now owns 5,432 shares of the restaurant operator’s stock valued at $95,000 after purchasing an additional 949 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

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.