Fogo de Chao, Inc. (NASDAQ:FOGO) had its price objective cut by stock analysts at Canaccord Genuity from $17.00 to $15.00 in a research report issued to clients and investors on Wednesday, October 18th. The firm presently has a “buy” rating on the restaurant operator’s stock. Canaccord Genuity’s price objective indicates a potential upside of 37.61% from the company’s current price.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Fogo de Chao from a “buy” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub cut shares of Fogo de Chao from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. ValuEngine upgraded shares of Fogo de Chao from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $16.00 price objective on shares of Fogo de Chao in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.08.
Shares of Fogo de Chao (NASDAQ:FOGO) traded up 0.46% during trading on Wednesday, hitting $10.95. The stock had a trading volume of 32,506 shares. The stock has a 50 day moving average of $12.11 and a 200 day moving average of $12.11. The firm has a market cap of $309.17 million, a PE ratio of 13.86 and a beta of 0.37. Fogo de Chao has a 52-week low of $10.70 and a 52-week high of $14.95.
Fogo de Chao (NASDAQ:FOGO) last released its quarterly earnings data on Tuesday, August 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.02). Fogo de Chao had a return on equity of 8.08% and a net margin of 7.40%. The firm had revenue of $77.80 million for the quarter, compared to analyst estimates of $77.46 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. Fogo de Chao’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities analysts anticipate that Fogo de Chao will post $0.79 EPS for the current year.
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Hedge funds have recently made changes to their positions in the stock. ClariVest Asset Management LLC acquired a new position in shares of Fogo de Chao in the second quarter valued at approximately $426,000. Bank of New York Mellon Corp grew its holdings in shares of Fogo de Chao by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 51,005 shares of the restaurant operator’s stock valued at $829,000 after purchasing an additional 2,537 shares in the last quarter. Archon Capital Management LLC lifted its stake in Fogo de Chao by 45.7% in the second quarter. Archon Capital Management LLC now owns 376,660 shares of the restaurant operator’s stock worth $5,236,000 after acquiring an additional 118,181 shares during the last quarter. Boston Partners purchased a new position in Fogo de Chao in the second quarter worth approximately $2,258,000. Finally, River & Mercantile Asset Management LLP lifted its stake in Fogo de Chao by 45.1% in the second quarter. River & Mercantile Asset Management LLP now owns 293,281 shares of the restaurant operator’s stock worth $4,069,000 after acquiring an additional 91,141 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.
Fogo de Chao Company Profile
Fogo de Chao, Inc is a United States-based holding company. The Company, through its subsidiaries, operates upscale Brazilian churrascaria steakhouses under the brand of Fogo de Chao. The Company owns 100% of Brasa (Purchaser) Inc (Brasa Purchaser), which owns 100% of Brasa (Holdings) Inc (Brasa Holdings).
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