Zacks Investment Research upgraded shares of Chanticleer (NASDAQ:BURG) from a sell rating to a hold rating in a report released on Wednesday.
According to Zacks, “Chanticleer Holdings, Inc. is engaged in owning and operating Hooters branded restaurants in international markets. Hooters restaurants are casual beach-themed establishments with sports on television, jukebox music, and Hooters Girls. The Company has rights to develop and operate Hooters restaurants in South Africa, rights to develop in Hungary and parts of Brazil, and has a joint venture with a franchisee in Australia. Chanticleer Holdings, Inc. is based in Charlotte, North Carolina. “
Separately, ValuEngine lowered Chanticleer from a buy rating to a hold rating in a research report on Tuesday, October 2nd.
BURG stock traded up $0.22 during midday trading on Wednesday, reaching $2.31. 31,854 shares of the stock were exchanged, compared to its average volume of 15,444. The firm has a market capitalization of $7.86 million, a P/E ratio of -1.30 and a beta of 2.29. Chanticleer has a 52 week low of $1.81 and a 52 week high of $5.14.
Chanticleer (NASDAQ:BURG) last issued its quarterly earnings data on Monday, August 13th. The restaurant operator reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. The business had revenue of $10.40 million for the quarter, compared to analyst estimates of $10.65 million. Chanticleer had a negative return on equity of 35.65% and a negative net margin of 15.34%. On average, sell-side analysts anticipate that Chanticleer will post -1.6 earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Chanticleer stock. Perkins Capital Management Inc. purchased a new stake in Chanticleer Holdings (NASDAQ:BURG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 44,161 shares of the restaurant operator’s stock, valued at approximately $110,000. Perkins Capital Management Inc. owned about 1.19% of Chanticleer at the end of the most recent quarter. Hedge funds and other institutional investors own 3.53% of the company’s stock.
Chanticleer Company Profile
Chanticleer Holdings, Inc, together with its subsidiaries, owns, operates, and franchises fast casual dining concepts in the United States and internationally. The company owns and operates 8 locations under the American Burger Company name in North Carolina, South Carolina, and New York; 8 company-owned locations in the United States and 13 franchisee-operated locations in the United States and the Middle East under The Burger Joint name; and 12 company-owned locations under the Little Big Burger name in the Portland, Oregon and Charlotte, North Carolina, as well as in Wallingford, Seattle.
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