In a report released today, Brian Bittner from Oppenheimer assigned a Buy rating to Wendy’s (WEN), with a price target of $26.00. The company’s shares closed last Wednesday at $21.82, close to its 52-week high of $24.04.
According to TipRanks.com, Bittner is a 5-star analyst with an average return of 8.9% and a 66.4% success rate. Bittner covers the Services sector, focusing on stocks such as Restaurant Brands International, Papa John’s International, and Cheesecake Factory.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wendy’s with a $21.81 average price target, representing a -1.5% downside. In a report issued on June 5, Longbow Research also maintained a Buy rating on the stock with a $25.00 price target.
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The company has a one-year high of $24.04 and a one-year low of $6.82. Currently, Wendy’s has an average volume of 5.39M.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WEN in relation to earlier this year.
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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. The company was founded by R. David Thomas on November 15, 1969 and is headquartered in Dublin, OH.