Price Action Alert: Could Wendys Co See a Reversal After Breaking All Highs?

Price Action Alert: Could Wendys Co See a Reversal After Breaking All Highs?

The stock of Wendys Co (NASDAQ:WEN) reached all time high today, Nov, 22 and still has $13.36 target or 5.00% above today’s $12.72 share price. This indicates more upside for the $3.33 billion company. This technical setup was reported by Barchart.com. If the $13.36 PT is reached, the company will be worth $166.50M 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 2.78 million shares traded hands. Wendys Co (NASDAQ:WEN) has risen 11.15% since April 20, 2016 and is uptrending. It has outperformed by 6.60% 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. Evercore initiated the stock with “Buy” rating in Tuesday, April 5 report. The stock of Wendys Co (NASDAQ:WEN) earned “Neutral” rating by JP Morgan on Thursday, February 11. The stock of Wendys Co (NASDAQ:WEN) has “Sell” rating given on Thursday, August 6 by UBS. The stock of Wendys Co (NASDAQ:WEN) earned “Buy” rating by SunTrust on Thursday, October 8. As per Monday, January 4, the company rating was upgraded by Nomura. The stock has “Neutral” rating given by Goldman Sachs on Thursday, August 27. The firm has “Buy” rating by Longbow given on Friday, March 18. The rating was upgraded by JP Morgan to “Overweight” on Thursday, August 6. The firm earned “Buy” rating on Wednesday, August 19 by Vetr. Credit Suisse upgraded Wendys Co (NASDAQ:WEN) on Tuesday, August 11 to “Underperform” rating.

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 2016 Q2. 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.
Paloma Management Communications accumulated 0% or 37,621 shares. Moreover, Credit Suisse Ag has 0% invested in Wendys Co (NASDAQ:WEN) for 327,772 shares. Cadence Capital Mgmt Lc accumulated 0.02% or 30,274 shares. Cambridge Investment Research Advisors has invested 0% of its portfolio in Wendys Co (NASDAQ:WEN). Bancorp Of America De accumulated 665,104 shares or 0% of the stock. Tfs Cap Ltd Liability Co holds 0.07% or 36,980 shares in its portfolio. Princeton Alpha Management L P has 0.04% invested in the company for 23,302 shares. Parametric Associates Ltd Liability Corporation last reported 0.01% of its portfolio in the stock. Pacific Glob Inv Com accumulated 0.16% or 72,519 shares. King Wealth Mngmt Gp Limited Liability has invested 0.46% of its portfolio in Wendys Co (NASDAQ:WEN). Retirement System Of Alabama last reported 0.02% of its portfolio in the stock. Guardian holds 0% or 19,506 shares in its portfolio. Principal Fincl Group accumulated 0.01% or 816,430 shares. Citadel Ltd Liability Com, a Illinois-based fund reported 4.02 million shares. Private Bancshares last reported 0.04% of its portfolio in the stock.

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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