Stock of the Day: Could Wendys Co Go Down After Reaching All Time High?

Stock of the Day: Could Wendys Co Go Down After Reaching All Time High?

The stock of Wendys Co (NASDAQ:WEN) reached all time high today, Nov, 15 and still has $15.13 target or 27.00% above today’s $11.91 share price. This indicates more upside for the $3.11B company. This technical setup was reported by Barchart.com. If the $15.13 PT is reached, the company will be worth $839.70M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 671,257 shares traded hands. Wendys Co (NASDAQ:WEN) has risen 6.17% since April 13, 2016 and is uptrending. It has outperformed by 2.24% 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. $13 is the highest target while $9.50 is the lowest. The $10.95 average target is -8.06% below today’s ($11.91) stock price. Wendy’s has been the topic of 18 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The company was upgraded on Thursday, November 19 by Goldman Sachs. The firm has “Market Perform” rating given on Thursday, May 26 by Bernstein. The rating was maintained by Goldman Sachs on Thursday, August 11 with “Buy”. The stock of Wendys Co (NASDAQ:WEN) earned “Buy” rating by Guggenheim on Friday, September 11. As per Wednesday, August 19, the company rating was upgraded by Vetr. The firm has “Overweight” rating given on Thursday, August 6 by JP Morgan. The stock of Wendys Co (NASDAQ:WEN) has “Buy” rating given on Wednesday, October 5 by Citigroup. The rating was downgraded by JP Morgan on Thursday, February 11 to “Neutral”. The company was initiated on Tuesday, April 5 by Evercore. The stock of Wendys Co (NASDAQ:WEN) has “Underperform” rating given on Tuesday, August 11 by Credit Suisse.

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 increased to 1.28 in 2016 Q2. Its up 0.18, from 1.1 in 2016Q1. The ratio is positive, 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.
Moreover, Boothbay Fund has 0.23% invested in Wendys Co (NASDAQ:WEN) for 50,715 shares. Moreover, Rs Invest Co Ltd Liability Company has 0.32% invested in Wendys Co (NASDAQ:WEN) for 3.28 million shares. Moreover, Rafferty Asset Mngmt Limited Liability Company has 0.04% invested in Wendys Co (NASDAQ:WEN) for 58,928 shares. The Michigan-based Plante Moran Advisors Ltd Liability Corporation has invested 0.01% in Wendys Co (NASDAQ:WEN). The New Jersey-based Blackrock Investment Management Lc has invested 0.01% in Wendys Co (NASDAQ:WEN). Orrstown Service owns 31,000 shares or 0.32% of their US portfolio. Quantbot Techs L P holds 0.08% of its portfolio in Wendys Co (NASDAQ:WEN) for 78,268 shares. Eminence Capital L P reported 5.81 million shares or 1.13% of all its holdings. The New York-based Jennison Associate Ltd has invested 0.04% in Wendys Co (NASDAQ:WEN). Babson Capital Mgmt Lc accumulated 0.03% or 138,100 shares. Moreover, First Manhattan Co has 0% invested in Wendys Co (NASDAQ:WEN) for 5,029 shares. Alliancebernstein Ltd Partnership has 127,742 shares for 0% of their US portfolio. Blackrock Advsrs Ltd Liability Corporation holds 0% of its portfolio in Wendys Co (NASDAQ:WEN) for 117,292 shares. Regions Financial accumulated 0% or 28,149 shares. Savings Bank Of Montreal Can last reported 15,360 shares in the company.

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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