Fogo de Chao Inc. (FOGO) Sees Unusually-High Trading Volume
Fogo de Chao Inc. (NASDAQ:FOGO) saw unusually-strong trading volume on Thursday . Approximately 119,863 shares changed hands during mid-day 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 equities research analysts have recently commented on FOGO shares. Zacks Investment Research raised Fogo de Chao from a “sell” rating to a “hold” rating in a research report on Tuesday, April 12th. Macquarie downgraded Fogo de Chao from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 24th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Fogo de Chao currently has an average rating of “Hold” and a consensus price target of $19.29.
The stock’s 50 day moving average price is $13.11 and its 200-day moving average price is $14.88. The stock has a market capitalization of $388.78 million and a PE ratio of 13.09.
Fogo de Chao (NASDAQ:FOGO) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The firm earned $68.90 million during the quarter, compared to the consensus estimate of $71.86 million. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts forecast that Fogo de Chao Inc. will post $0.94 EPS for the current year.
A hedge fund recently raised its stake in Fogo de Chao stock. Kornitzer Capital Management Inc. KS increased its stake in shares of Fogo de Chao Inc. (NASDAQ:FOGO) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 157,700 shares of the company’s stock after buying an additional 8,000 shares during the period. Kornitzer Capital Management Inc. KS owned 0.56% of Fogo de Chao worth $2,391,000 at the end of the most recent reporting period.
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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