Noodles & Co. (NDLS) PT, Estimates Cut at Piper Jaffray

Piper Jaffray analyst Nicole Miller Regan lowered estimates and her price target on Noodles & Co. (NASDAQ: NDLS) to $25.00 (from $32.00) following weak Q4 results. However, the firm maintained an Overweight rating saying the don't see the story fundamentally broken.

Regan commented, "Noodles & Company delivered 4Q14 EPS of $0.13 vs. consensus expectations of $0.14. Quarter-to-date trends are running in the +1.0% range for company-owned stores, +2.6% at franchise locations, and +1.1% for the system. This is notably a lower trend vs. peers that have reported to date and along with discussion on the conference call around questions of meaningful brand awareness issues have led to NDLS shares indicating down ~25% in the after market. Although NDLS shares appear to be in for a rough ride in the next trading session, we do not believe the Noodles story is fundamentally broken and thus maintain our OW rating."

FY 2015 EPS goes from $0.48 to $0.45.

For an analyst ratings summary and ratings history on Noodles & Co. click here. For more ratings news on Noodles & Co. click here.

Shares of Noodles & Co. closed at $27.74 yesterday.

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