Fogo de Chao Inc. (FOGO) Sees Unusually-High Trading Volume
Shares of Fogo de Chao Inc. (NASDAQ:FOGO) saw an uptick in trading volume on Thursday . 119,863 shares changed hands during trading, an increase of 67% from the previous session’s volume of 71,843 shares.The stock last traded at $13.84 and had previously closed at $13.73.
A number of brokerages recently commented on FOGO. Zacks Investment Research upgraded Fogo de Chao from a “sell” rating to a “hold” rating in a research note on Tuesday. Macquarie downgraded Fogo de Chao from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 24th. JPMorgan Chase & Co. downgraded Fogo de Chao from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $16.00 in a research note on Tuesday, May 17th. Finally, Jefferies Group restated a “buy” rating and set a $22.00 price objective on shares of Fogo de Chao in a research note on Wednesday, May 11th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.29.
The stock has a 50-day moving average of $13.11 and a 200-day moving average of $14.87. The firm has a market capitalization of $390.46 million and a P/E ratio of 13.15.
Fogo de Chao (NASDAQ:FOGO) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.02. The business earned $68.90 million during the quarter, compared to the consensus estimate of $71.86 million. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts expect that Fogo de Chao Inc. will post $0.94 EPS for the current year.
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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