In a report released today, John Glass from Morgan Stanley maintained a Hold rating on Wendy’s (WEN), with a price target of $21.00. The company’s shares closed last Thursday at $22.23, close to its 52-week high of $24.04.
According to TipRanks.com, Glass is a 4-star analyst with an average return of 10.8% and a 63.5% success rate. Glass covers the Services sector, focusing on stocks such as Restaurant Brands International, Brinker International, and Red Robin Gourmet.
Wendy’s has an analyst consensus of Moderate Buy, with a price target consensus of $23.95, which is a 5.9% upside from current levels. In a report issued on August 3, MKM Partners also maintained a Hold rating on the stock with a $23.00 price target.
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Wendy’s’ market cap is currently $4.99B and has a P/E ratio of 45.20. The company has a Price to Book ratio of -3.34.
Based on the recent corporate insider activity of 56 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.
