Fogo de Chao Inc. (FOGO) Upgraded to “Hold” at Zacks Investment Research
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. “
A number of other analysts have also commented on the company. JPMorgan Chase & Co. reissued a hold rating and set a $15.00 price objective on shares of Fogo de Chao in a report on Wednesday, September 28th. TheStreet lowered Fogo de Chao from a hold rating to a sell rating in a report on Wednesday, September 14th. Canaccord Genuity began coverage on Fogo de Chao in a report on Monday, August 22nd. They issued a hold rating and a $13.00 target price for the company. Piper Jaffray Cos. reaffirmed an overweight rating and issued a $16.00 target price (down from $18.00) on shares of Fogo de Chao in a report on Saturday, August 13th. Finally, Jefferies Group reduced their target price on Fogo de Chao from $20.00 to $18.00 and set a buy rating for the company in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Fogo de Chao presently has an average rating of Hold and an average price target of $16.36.
Shares of Fogo de Chao (NASDAQ:FOGO) traded up 2.0674% during trading on Tuesday, reaching $11.3499. The company’s stock had a trading volume of 5,798 shares. The stock has a market cap of $319.22 million, a P/E ratio of 9.9911 and a beta of 0.33. The stock has a 50-day moving average of $11.71 and a 200-day moving average of $13.76. Fogo de Chao has a 52-week low of $10.50 and a 52-week high of $17.89.
Fogo de Chao (NASDAQ:FOGO) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $69.60 million for the quarter, compared to the consensus estimate of $73.31 million. Fogo de Chao had a return on equity of 10.01% and a net margin of 11.88%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. Analysts predict that Fogo de Chao will post $0.86 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in FOGO. Spark Investment Management LLC raised its position in shares of Fogo de Chao by 68.7% in the first quarter. Spark Investment Management LLC now owns 84,200 shares of the company’s stock valued at $1,314,000 after buying an additional 34,300 shares during the period. Geode Capital Management LLC raised its position in shares of Fogo de Chao by 14.6% in the first quarter. Geode Capital Management LLC now owns 39,860 shares of the company’s stock valued at $622,000 after buying an additional 5,066 shares during the period. Boothbay Fund Management LLC raised its position in shares of Fogo de Chao by 95.4% in the first quarter. Boothbay Fund Management LLC now owns 25,591 shares of the company’s stock valued at $399,000 after buying an additional 12,497 shares during the period. Bank of New York Mellon Corp raised its position in shares of Fogo de Chao by 11.1% in the second quarter. Bank of New York Mellon Corp now owns 425,707 shares of the company’s stock valued at $5,560,000 after buying an additional 42,383 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Fogo de Chao by 1.1% in the second quarter. Vanguard Group Inc. now owns 182,687 shares of the company’s stock valued at $2,386,000 after buying an additional 2,064 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.
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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