In a report issued on April 10, Ivan Feinseth from Tigress Financial initiated coverage with a Buy rating on Wendy’s (WEN). The company’s shares closed last Wednesday at $21.24, close to its 52-week high of $24.04.
According to TipRanks.com, Feinseth is a top 100 analyst with an average return of 18.3% and a 68.7% success rate. Feinseth covers the Technology sector, focusing on stocks such as Microsoft, Alphabet, and Verizon.
Currently, the analyst consensus on Wendy’s is a Moderate Buy with an average price target of $23.94, representing an 11.7% upside. In a report issued on July 18, Maxim Group also initiated coverage with a Buy rating on the stock with a price target.
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Based on Wendy’s’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $402 million and net profit of $24.9 million. In comparison, last year the company earned revenue of $435 million and had a net profit of $32.39 million.
Based on the recent corporate insider activity of 51 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.
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