Wedbush Believes Wendy’s (NASDAQ: WEN) Won’t Stop Here

In a report released today, Nick Setyan from Wedbush maintained a Buy rating on Wendy’s (WENResearch Report), with a price target of $28.00. The company’s shares closed last Wednesday at $22.46, close to its 52-week high of $24.04.

According to TipRanks.com, Setyan is a 4-star analyst with an average return of 3.6% and a 55.3% success rate. Setyan covers the Services sector, focusing on stocks such as Papa John’s International, Del Taco Restaurants, and Dine Brands Global.

Currently, the analyst consensus on Wendy’s is a Moderate Buy with an average price target of $22.75, which is a -4.3% downside from current levels. In a report issued on August 2, Oppenheimer also reiterated a Buy rating on the stock with a $26.00 price target.

See today’s analyst top recommended stocks >>

Wendy’s’ market cap is currently $5.3B and has a P/E ratio of 45.50. The company has a Price to Book ratio of -3.36.

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.