Zoe’s Kitchen’s (ZOES) Buy Rating Reaffirmed at Maxim Group
Zoe’s Kitchen, Inc. (NYSE:ZOES)‘s stock had its “buy” rating reaffirmed by equities researchers at Maxim Group in a report issued on Thursday. They currently have a $20.00 price target on the restaurant operator’s stock. Maxim Group’s price target suggests a potential upside of 62.87% from the company’s previous close.
The analysts wrote, “We reiterate our Buy rating and $20 price target on Zoe’s Kitchen (ZOES) ahead of the release of 3Q17 (September) results on Thursday, November 9. We lower our 3Q17 EPS estimate to $0.01, from $0.02, as we reduce our quarterly comp forecast to +0.8% (from +1.5%) to account for closures related to Hurricanes Harvey and Irma. We maintain our 2018 EPS estimate of $0.12 on a mix of positive comps and improved margins.””
A number of other research analysts also recently issued reports on ZOES. Robert W. Baird cut their price objective on Zoe’s Kitchen from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, August 14th. Credit Suisse Group dropped their price target on Zoe’s Kitchen from $13.00 to $12.50 and set an “underperform” rating for the company in a research note on Friday, August 18th. Zacks Investment Research upgraded Zoe’s Kitchen from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Telsey Advisory Group upgraded Zoe’s Kitchen from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $15.00 to $17.00 in a research note on Thursday, August 17th. They noted that the move was a valuation call. Finally, Deutsche Bank AG restated a “hold” rating and issued a $13.00 price target (down from $15.00) on shares of Zoe’s Kitchen in a research note on Monday, July 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $17.55.
Zoe’s Kitchen (NYSE:ZOES) last announced its quarterly earnings data on Thursday, August 17th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. The company had revenue of $74.30 million during the quarter, compared to the consensus estimate of $75.11 million. Zoe’s Kitchen had a negative return on equity of 0.27% and a negative net margin of 0.07%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS.
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In other Zoe’s Kitchen news, Director A Alexander Taylor II purchased 3,100 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average cost of $12.87 per share, for a total transaction of $39,897.00. Following the purchase, the director now directly owns 7,508 shares of the company’s stock, valued at approximately $96,627.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Bamco Inc. NY raised its holdings in shares of Zoe’s Kitchen by 26.5% during the 2nd quarter. Bamco Inc. NY now owns 1,200,000 shares of the restaurant operator’s stock worth $14,292,000 after acquiring an additional 251,431 shares in the last quarter. Peregrine Capital Management LLC raised its holdings in shares of Zoe’s Kitchen by 1.6% during the 3rd quarter. Peregrine Capital Management LLC now owns 830,859 shares of the restaurant operator’s stock worth $10,494,000 after acquiring an additional 13,286 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Zoe’s Kitchen by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 790,783 shares of the restaurant operator’s stock worth $14,629,000 after acquiring an additional 51,682 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Zoe’s Kitchen by 0.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 734,530 shares of the restaurant operator’s stock worth $8,748,000 after acquiring an additional 2,493 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Zoe’s Kitchen during the 2nd quarter worth approximately $7,728,000.
About Zoe’s Kitchen
Zoe’s Kitchen, Inc develops and operates fast-casual restaurants serving a menu of fresh, wholesome, Mediterranean-inspired dishes delivered with Southern hospitality. The Company’s menu offers meals made from scratch using produce, proteins and other ingredients, including its appetizers, soups, salads and kabobs.
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