Good Times Restaurants Inc. (GTIM) Upgraded to Hold at Zacks Investment Research
Good Times Restaurants Inc. (NASDAQ:GTIM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Good Times Restaurants Inc. is a holding company. Through its wholly-owned subsidiary, they are engaged in the business of developing, owning, operating and franchising restaurants under the name Good Times Drive Thru Burgers. Good Times DriveThru Burgers restaurants are owned, operated and franchised by their subsidiary, Good Times Drive Thru Inc. Good Times Drive Thru Burgers restaurants feature a limited menu for drive-through and walk-up customers. “
A number of other research firms also recently weighed in on GTIM. Maxim Group assumed coverage on shares of Good Times Restaurants in a research note on Thursday, June 22nd. They set a “buy” rating for the company. TheStreet lowered shares of Good Times Restaurants from a “c-” rating to a “d” rating in a report on Friday, August 11th.
Shares of Good Times Restaurants (NASDAQ GTIM) opened at 3.05 on Wednesday. The stock’s 50 day moving average price is $2.80 and its 200-day moving average price is $3.21. The firm’s market cap is $37.90 million. Good Times Restaurants has a 12 month low of $2.50 and a 12 month high of $3.78.
Good Times Restaurants (NASDAQ:GTIM) last announced its quarterly earnings data on Thursday, August 10th. The restaurant operator reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.03). Good Times Restaurants had a negative return on equity of 4.44% and a negative net margin of 2.25%. The firm had revenue of $21.70 million for the quarter, compared to the consensus estimate of $21.70 million. Equities research analysts anticipate that Good Times Restaurants will post ($0.19) earnings per share for the current fiscal year.
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In related news, Director Alan A. Teran acquired 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was acquired at an average cost of $2.90 per share, with a total value of $26,100.00. Following the completion of the purchase, the director now directly owns 40,877 shares in the company, valued at $118,543.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have purchased 44,706 shares of company stock valued at $123,035. 8.37% of the stock is owned by insiders.
A hedge fund recently raised its stake in Good Times Restaurants stock. Granite Point Capital Management L.P. grew its stake in shares of Good Times Restaurants Inc. (NASDAQ:GTIM) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 273,050 shares of the restaurant operator’s stock after buying an additional 16,300 shares during the period. Granite Point Capital Management L.P. owned approximately 2.22% of Good Times Restaurants worth $969,000 as of its most recent filing with the Securities and Exchange Commission. 32.72% of the stock is owned by institutional investors.
About Good Times Restaurants
Good Times Restaurants Inc operates and franchises Good Times Burgers & Frozen Custard (Good Times) restaurants and Bad Daddy’s Burger Bar concept (Bad Daddy’s). The Company operates through two segments: Good Times Burgers and Frozen Custard restaurants, and Bad Daddy’s Burger Bar restaurants. Good Times is a quick service restaurant concept.
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