In a report issued on April 14, Andrew Charles from Cowen & Co. maintained a Hold rating on Wendy’s (WEN), with a price target of $22.00. The company’s shares closed last Monday at $22.65.
According to TipRanks.com, Charles is a 5-star analyst with an average return of 18.9% and a 75.3% success rate. Charles covers the Services sector, focusing on stocks such as Restaurant Brands International, Jack In The Box, and Domino’s Pizza.
Currently, the analyst consensus on Wendy’s is a Moderate Buy with an average price target of $24.58, an 8.7% upside from current levels. In a report issued on April 16, RBC Capital also maintained a Hold rating on the stock with a $22.00 price target.
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Based on Wendy’s’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $474 million and net profit of $38.73 million. In comparison, last year the company earned revenue of $427 million and had a net profit of $26.53 million.
Based on the recent corporate insider activity of 62 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.
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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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