BMO Capital Downgrades Noodles & Co to Market Perform

Brokerage firm BMO Capital Downgrades its rating on Noodles & Co(NASDAQ:NDLS). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by BMO Capital was issued on Jul 26, 2016.

Noodles & Co (NDLS) shares turned negative on Fridays trading session with the shares closing down -0.01 points or -0.14% at a volume of 1,53,049. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.56. The peak price level was also seen at $7.56 while the days lowest was $7.22. Finally the shares closed at $7.39. The 52-week high of the shares is $15.88 while the 52-week low is $7.22. According to the latest information available, the market cap of the company is $205 M.

Noodles & Co(NDLS) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $113.99M. Analysts had an estimated revenue of $114.71M. Earnings per share were $-0.06. Analysts had estimated an EPS of $-0.06.

Several Insider Transactions has been reported to the SEC. On Jan 5, 2016, Mark Mears (EVP & Chief Marketing Officer) purchased 5,000 shares at $9.98 per share price.Also, 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.

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