The stock of Wendys Co (NASDAQ:WEN) hit a new 52-week high and has $18.88 target or 53.00% above today’s $12.34 share price. The 7 months bullish chart indicates low risk for the $3.16 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $18.88 price target is reached, the company will be worth $1.67B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 3.28M shares traded hands. Wendys Co (NASDAQ:WEN) has risen 11.16% since April 19, 2016 and is uptrending. It has outperformed by 7.30% the S&P500.
Wendys Co (NASDAQ:WEN) Ratings Coverage
Out of 12 analysts covering Wendy’s (NASDAQ:WEN), 7 rate it a “Buy”, 2 “Sell”, while 3 “Hold”. This means 58% are positive. Wendy’s has been the topic of 18 analyst reports since August 6, 2015 according to StockzIntelligence Inc. RBC Capital Markets downgraded Wendys Co (NASDAQ:WEN) on Tuesday, August 2 to “Sector Perform” rating. The stock of Wendys Co (NASDAQ:WEN) earned “Buy” rating by Nomura on Monday, January 4. The firm earned “Sell” rating on Thursday, August 6 by UBS. The rating was initiated by Nomura on Thursday, October 1 with “Neutral”. The stock of Wendys Co (NASDAQ:WEN) has “Neutral” rating given on Thursday, August 27 by Goldman Sachs. JP Morgan upgraded it to “Overweight” rating and $12 target price in Thursday, August 6 report. The stock has “Market Perform” rating given by Bernstein on Thursday, May 26. Goldman Sachs maintained Wendys Co (NASDAQ:WEN) on Thursday, August 11 with “Buy” rating. The firm has “Buy” rating given on Wednesday, August 19 by Vetr. The rating was initiated by Guggenheim on Friday, September 11 with “Buy”.
According to Zacks Investment Research, “The Wendy’s Company is the world’s third-largest quick-service hamburger company. The Wendy’s system includes more than 6,500 franchise and Company-operated restaurants in the United States and 27 countries and U.S. territories worldwide.”
Insitutional Activity: The institutional sentiment decreased to 0.72 in Q2 2016. Its down 0.56, from 1.28 in 2016Q1. The ratio turned negative, as 26 funds sold all Wendys Co shares owned while 66 reduced positions. 27 funds bought stakes while 91 increased positions. They now own 205.85 million shares or 1.97% more from 201.87 million shares in 2016Q1.
The Illinois-based Geneva Ltd Liability Company has invested 0% in Wendys Co (NASDAQ:WEN). Advisory Rech Inc last reported 0.16% of its portfolio in the stock. First National Bank Sioux Falls has 0.04% invested in the company for 1,392 shares. Franklin Incorporated accumulated 13,042 shares or 0% of the stock. Ftb Advisors, a Tennessee-based fund reported 782 shares. Capstone Investment Ltd Llc last reported 0.01% of its portfolio in the stock. Bnp Paribas Arbitrage accumulated 99,441 shares or 0% of the stock. Stephens Ar holds 0.01% of its portfolio in Wendys Co (NASDAQ:WEN) for 12,525 shares. Art Advsr Ltd Co accumulated 0.26% or 535,714 shares. Ny State Teachers Retirement Systems has 0.02% invested in the company for 640,640 shares. Pnc Service Group Inc owns 89,610 shares or 0% of their US portfolio. Reilly Fincl Advsr Limited Liability Corporation last reported 0% of its portfolio in the stock. Peak6 Invests Lp owns 12,250 shares or 0% of their US portfolio. Trian Fund Lp has 3.74% invested in the company for 40.79 million shares. Blackrock Grp Limited has 210,329 shares for 0% of their US portfolio.
Another recent and important Wendys Co (NASDAQ:WEN) news was published by Investorplace.com which published an article titled: “Wendys Co (WEN) Stock Up on Strong Q3 Earnings Results” on November 09, 2016.
WEN Company Profile
The Wendy’s Company, incorporated on May 6, 1994, is the parent firm of its subsidiary holding firm Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent firm of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is the restaurant firm specializing in the hamburger sandwich segment. Wendy’s is engaged in the business of operating, developing and franchising a system of quick-service restaurants serving food. The Firm operates approximately 6,080 Wendy’s restaurants in North America. Of these restaurants, over 630 are operated by Wendy’s and over 5,440 by approximately 390 franchisees. It also operates approximately 400 franchised Wendy’s restaurants in over 30 countries and territories other than North America.
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