Zacks Investment Research upgraded shares of Fogo De Chao (NASDAQ:FOGO) from a strong sell rating to a hold rating in a research report report published on Tuesday, December 19th.
According to Zacks, “Fogo De Chao, Inc. owns and operates Brazilian steakhouses. It offers beef, lamb, chicken, pork and seafood items as well as liquor, beer and wine. The company operates primarily in the United States, Puerto Rico and Brazil. Fogo De Chao, Inc. is headquartered in Dallas, Texas. “
Other equities research analysts have also recently issued reports about the company. Canaccord Genuity decreased their price target on Fogo De Chao from $17.00 to $15.00 and set a buy rating on the stock in a report on Wednesday, October 18th. ValuEngine raised Fogo De Chao from a hold rating to a buy rating in a report on Monday, October 2nd. BidaskClub raised Fogo De Chao from a strong sell rating to a sell rating in a report on Thursday, December 14th. Credit Suisse Group reduced their target price on Fogo De Chao from $15.00 to $12.00 and set a neutral rating on the stock in a report on Monday, October 23rd. Finally, TheStreet lowered Fogo De Chao from a c- rating to a d+ rating in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $14.17.
Fogo De Chao (NASDAQ FOGO) opened at $13.70 on Tuesday. The stock has a market capitalization of $389.89, a price-to-earnings ratio of 19.03, a PEG ratio of 1.13 and a beta of 0.38. Fogo De Chao has a 52 week low of $10.30 and a 52 week high of $17.05. The company has a quick ratio of 1.41, a current ratio of 1.54 and a debt-to-equity ratio of 0.46.
Fogo De Chao (NASDAQ:FOGO) last announced its earnings results on Tuesday, November 7th. The restaurant operator reported $0.10 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.10. Fogo De Chao had a return on equity of 7.36% and a net margin of 6.76%. The company had revenue of $71.40 million for the quarter, compared to analysts’ expectations of $71.40 million. During the same period last year, the firm earned $0.16 EPS. Fogo De Chao’s revenue for the quarter was up 3.5% compared to the same quarter last year. research analysts predict that Fogo De Chao will post 0.77 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in FOGO. Bessemer Group Inc. boosted its holdings in shares of Fogo De Chao by 132.5% in the third quarter. Bessemer Group Inc. now owns 8,300 shares of the restaurant operator’s stock valued at $103,000 after purchasing an additional 4,730 shares during the period. New York State Common Retirement Fund raised its stake in Fogo De Chao by 221.1% in the second quarter. New York State Common Retirement Fund now owns 10,600 shares of the restaurant operator’s stock worth $147,000 after buying an additional 7,299 shares in the last quarter. Nationwide Fund Advisors raised its stake in Fogo De Chao by 269.6% in the second quarter. Nationwide Fund Advisors now owns 11,095 shares of the restaurant operator’s stock worth $154,000 after buying an additional 8,093 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Fogo De Chao in the third quarter worth approximately $161,000. Finally, Citigroup Inc. raised its stake in Fogo De Chao by 83.3% in the second quarter. Citigroup Inc. now owns 11,663 shares of the restaurant operator’s stock worth $162,000 after buying an additional 5,299 shares in the last quarter. Hedge funds and other institutional investors own 85.98% of the company’s stock.
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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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