Noodles & Co (NDLS) is Downgraded by Jefferies to Hold

Noodles & Co (NDLS) was Downgraded by Jefferies to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Jefferies advised their investors in a research report released on Jul 26, 2016.

On the company’s financial health, Noodles & Co reported $-0.06 EPS for the quarter, based on the information available during the earnings call on May 3, 2016. Analyst had a consensus estimate of $-0.06. The company had revenue of $113.99 million for the quarter, compared to analysts expectations of $114.96 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Noodles & Co closed down -0.02 points or -0.20% at $9.95 with 50,276 shares getting traded on Wednesday. Post opening the session at $10.01, the shares hit an intraday low of $9.9 and an intraday high of $10.22 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jan 5, 2016, Mark Mears (EVP & Chief Marketing Officer) purchased 5,000 shares at $9.98 per share price. According to the SEC, on Mar 2, 2015, Kevin Michael Reddy (CEO) purchased 5,000 shares at $18.40 per share price.

Noodles & Company develops and operates fast casual restaurants. The Company serves globally inspired noodle and pasta dishes soups salads and sandwiches. As of December 30 2014 the Company had 439 restaurants comprising 386 company owned restaurants and 53 franchise restaurants in 32 states and the District of Columbia. The Company offers more than 25 Asian Mediterranean and American dishes. The Company offers limited time offerings (LTOs) and featured items such as the Buffalo Chicken Mac & Cheese and Wisconsin Mac & Cheese. As of December 30 2014 the Company had 11 franchisees that operated 53 franchise restaurants in 15 states. The Company’s restaurants are 2600 to 2700 square feet and are located in a range of suburban urban and small markets. The Company offers a range of 14 fresh vegetables and six proteins-beef naturally raised pork chicken meatballs shrimp and organic tofu.

Noodles & Co

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