Fogo de Chao, Inc. (NASDAQ:FOGO) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Monday.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Fogo de Chao from a “buy” rating to a “sell” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $16.00 price objective on shares of Fogo de Chao in a report on Thursday, August 10th. Finally, BidaskClub upgraded Fogo de Chao from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Fogo de Chao has an average rating of “Hold” and a consensus target price of $16.58.

Shares of Fogo de Chao (NASDAQ:FOGO) remained flat at $12.40 during mid-day trading on Monday. 71,560 shares of the company’s stock traded hands. The company has a market cap of $350.11 million, a PE ratio of 15.31 and a beta of 0.38. Fogo de Chao has a 52-week low of $10.57 and a 52-week high of $14.95. The firm has a 50-day moving average of $12.40 and a 200-day moving average of $12.40.

Fogo de Chao (NASDAQ:FOGO) last announced its earnings results on Tuesday, August 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). Fogo de Chao had a return on equity of 8.08% and a net margin of 7.40%. The company had revenue of $77.80 million for the quarter, compared to analyst estimates of $77.46 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. Fogo de Chao’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts anticipate that Fogo de Chao will post $0.91 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of FOGO. Bank of New York Mellon Corp raised its stake in shares of Fogo de Chao by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 51,005 shares of the restaurant operator’s stock worth $829,000 after buying an additional 2,537 shares during the last quarter. Citigroup Inc. boosted its stake in Fogo de Chao by 83.3% in the second quarter. Citigroup Inc. now owns 11,663 shares of the restaurant operator’s stock valued at $162,000 after acquiring an additional 5,299 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in Fogo de Chao by 1.2% in the second quarter. TIAA CREF Investment Management LLC now owns 523,992 shares of the restaurant operator’s stock valued at $7,283,000 after acquiring an additional 6,017 shares during the last quarter. California State Teachers Retirement System boosted its stake in Fogo de Chao by 65.7% in the second quarter. California State Teachers Retirement System now owns 16,647 shares of the restaurant operator’s stock valued at $231,000 after acquiring an additional 6,600 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Fogo de Chao by 221.1% in the second quarter. New York State Common Retirement Fund now owns 10,600 shares of the restaurant operator’s stock valued at $147,000 after acquiring an additional 7,299 shares during the last quarter. Institutional investors own 85.65% 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).

Analyst Recommendations for Fogo de Chao (NASDAQ:FOGO)

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