Fogo de Chao, Inc. (NASDAQ:FOGO) had its price objective reduced by Canaccord Genuity from $15.00 to $13.00 in a research note released on Wednesday. Canaccord Genuity currently has a buy rating on the restaurant operator’s stock.
Several other brokerages have also recently weighed in on FOGO. Zacks Investment Research cut Fogo de Chao from a buy rating to a sell rating in a report on Wednesday, July 12th. BidaskClub cut Fogo de Chao from a sell rating to a strong sell rating in a report on Wednesday, July 12th. Piper Jaffray Companies reaffirmed a buy rating and issued a $16.00 price objective on shares of Fogo de Chao in a report on Thursday, August 10th. ValuEngine raised Fogo de Chao from a hold rating to a buy rating in a report on Monday, October 2nd. Finally, Credit Suisse Group dropped their price objective on Fogo de Chao from $15.00 to $12.00 and set a neutral rating for the company in a report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Fogo de Chao presently has an average rating of Hold and an average price target of $14.67.
Fogo de Chao (NASDAQ FOGO) traded up $0.30 during trading hours on Wednesday, reaching $10.75. The company had a trading volume of 108,500 shares, compared to its average volume of 83,739. The firm has a market cap of $295.24, a PE ratio of 13.57, a P/E/G ratio of 0.92 and a beta of 0.32. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.53 and a current ratio of 1.54. Fogo de Chao has a 1-year low of $10.30 and a 1-year high of $17.05.
Fogo de Chao (NASDAQ:FOGO) last released its quarterly earnings results on Tuesday, November 7th. The restaurant operator reported $0.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The business had revenue of $71.40 million during the quarter, compared to analysts’ expectations of $71.40 million. Fogo de Chao had a return on equity of 7.36% and a net margin of 6.76%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.16 EPS. equities research analysts predict that Fogo de Chao will post 0.78 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the company. Bessemer Group Inc. increased its stake in shares of Fogo de Chao by 132.5% in the 3rd quarter. Bessemer Group Inc. now owns 8,300 shares of the restaurant operator’s stock valued at $103,000 after purchasing an additional 4,730 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Fogo de Chao by 221.1% in the 2nd quarter. New York State Common Retirement Fund now owns 10,600 shares of the restaurant operator’s stock valued at $147,000 after purchasing an additional 7,299 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Fogo de Chao by 269.6% in the 2nd quarter. Nationwide Fund Advisors now owns 11,095 shares of the restaurant operator’s stock valued at $154,000 after purchasing an additional 8,093 shares during the last quarter. Citigroup Inc. increased its stake in shares of Fogo de Chao by 83.3% in the 2nd quarter. Citigroup Inc. now owns 11,663 shares of the restaurant operator’s stock valued at $162,000 after purchasing an additional 5,299 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Fogo de Chao in the 3rd quarter valued at $161,000. Institutional investors own 85.69% of the company’s stock.
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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