Noodles & Co Stock Tumbles: CFO Resigns, Analyst Professed A Distaste On Low Traffic
Portfolio Pulse from Lekha Gupta
Noodles & Co's stock tumbles as CFO Carl Lukach resigns and Stephens & Co analyst Joshua Long downgrades the company to Equal-Weight from Overweight, with a reduced price target of $5 from $7. Long cites lower-than-expected traffic trends in Q2 and the CFO's departure as reasons for the downgrade.
May 19, 2023 | 4:36 pm
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NEGATIVE IMPACT
Noodles & Co's stock price is negatively impacted by the resignation of CFO Carl Lukach and a downgrade by Stephens & Co analyst Joshua Long, who cites low traffic and the CFO's departure.
The resignation of CFO Carl Lukach and the downgrade by Stephens & Co analyst Joshua Long are both negative events for Noodles & Co. The downgrade is based on lower-than-expected traffic trends in Q2 and the CFO's departure, which are likely to negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100