Fogo de Chao Inc. (FOGO) Shares Gap Up to $13.85
Fogo de Chao Inc. (NASDAQ:FOGO) shares gapped up prior to trading on Wednesday . The stock had previously closed at $13.79, but opened at $13.85. Fogo de Chao shares last traded at $14.12, with a volume of 12,873 shares traded.
A number of brokerages have commented on FOGO. Zacks Investment Research cut shares of Fogo de Chao from a “hold” rating to a “sell” rating in a research report on Tuesday, March 29th. Jefferies Group reiterated a “buy” rating and set a $22.00 price target on shares of Fogo de Chao in a research report on Wednesday, May 11th. JPMorgan Chase & Co. cut shares of Fogo de Chao from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $16.00 in a research report on Tuesday, May 17th. Finally, Macquarie cut shares of Fogo de Chao from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 24th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $19.29.
The company has a 50 day moving average price of $13.16 and a 200 day moving average price of $14.85. The firm has a market capitalization of $393.55 million and a P/E ratio of 13.25.
Fogo de Chao (NASDAQ:FOGO) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.02. The company earned $68.90 million during the quarter, compared to analysts’ expectations of $71.86 million. Fogo de Chao’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts expect that Fogo de Chao Inc. will post $0.94 EPS for the current fiscal 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).