Fogo De Chao (NASDAQ:FOGO) was downgraded by analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, The Fly reports.
FOGO has been the subject of several other research reports. Jefferies Group restated a “buy” rating and issued a $14.00 price target on shares of Fogo De Chao in a research note on Friday, December 22nd. Zacks Investment Research cut Fogo De Chao from a “hold” rating to a “sell” rating in a research note on Monday. BidaskClub cut Fogo De Chao from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Credit Suisse Group decreased their price target on Fogo De Chao from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, October 23rd. Finally, ValuEngine cut Fogo De Chao from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two 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 (FOGO) traded down $0.15 during mid-day trading on Tuesday, hitting $12.55. The stock had a trading volume of 30,300 shares, compared to its average volume of 93,410. 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. The stock has a market capitalization of $354.58, a PE ratio of 17.43, a P/E/G ratio of 1.04 and a beta of 0.58.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. grew 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 worth $103,000 after acquiring an additional 4,730 shares during the period. New York State Common Retirement Fund grew its holdings in shares of 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 acquiring an additional 7,299 shares during the period. Nationwide Fund Advisors grew its holdings in shares of 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 acquiring an additional 8,093 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Fogo De Chao in the fourth quarter worth $141,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Fogo De Chao in the third quarter worth $161,000. 86.93% of the stock is owned by institutional investors.
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About Fogo De Chao
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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