Fogo De Chao (FOGO) Downgraded to “Strong Sell” at BidaskClub
BidaskClub cut shares of Fogo De Chao (NASDAQ:FOGO) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday morning.
A number of other research firms have also weighed in on FOGO. Canaccord Genuity decreased their price target on Fogo De Chao from $15.00 to $13.00 and set a buy rating for the company in a research report on Wednesday, November 8th. Zacks Investment Research upgraded Fogo De Chao from a strong sell rating to a hold rating in a research report on Tuesday, December 19th. Credit Suisse Group decreased their price objective on Fogo De Chao from $12.00 to $11.50 and set a neutral rating for the company in a research report on Thursday, November 9th. TheStreet lowered Fogo De Chao from a c- rating to a d+ rating in a research report on Friday, November 3rd. Finally, ValuEngine upgraded Fogo De Chao from a hold rating to a buy rating in a research report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Fogo De Chao currently has an average rating of Hold and a consensus target price of $14.17.
Fogo De Chao (NASDAQ:FOGO) traded up $0.05 during trading hours on Wednesday, hitting $12.05. The company had a trading volume of 60,500 shares, compared to its average volume of 47,133. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.54 and a quick ratio of 1.41. Fogo De Chao has a fifty-two week low of $10.30 and a fifty-two week high of $17.05. The firm has a market cap of $339.04, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38.
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, meeting the Zacks’ consensus estimate of $0.10. Fogo De Chao had a return on equity of 7.36% and a net margin of 6.76%. The business had revenue of $71.40 million during the quarter, compared to analyst estimates of $71.40 million. During the same quarter last year, the company posted $0.16 EPS. Fogo De Chao’s revenue for the quarter was up 3.5% on a year-over-year basis. analysts anticipate that Fogo De Chao will post 0.77 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of FOGO. Russell Investments Group Ltd. purchased a new stake in shares of Fogo De Chao during the 2nd quarter worth about $920,000. Schwab Charles Investment Management Inc. bought a new position in shares of Fogo De Chao in the 2nd quarter valued at approximately $258,000. Bank of New York Mellon Corp raised its stake in shares of Fogo De Chao by 36.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 69,780 shares of the restaurant operator’s stock valued at $971,000 after acquiring an additional 18,775 shares in the last quarter. Martingale Asset Management L P bought a new position in shares of Fogo De Chao in the 2nd quarter valued at approximately $480,000. Finally, Teachers Advisors LLC raised its stake in shares of Fogo De Chao by 130.1% in the 2nd quarter. Teachers Advisors LLC now owns 16,477 shares of the restaurant operator’s stock valued at $229,000 after acquiring an additional 9,316 shares in the last quarter. 85.98% of the stock is owned by institutional investors.
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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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