Fogo de Chao, Inc. (FOGO) Receives Average Recommendation of “Hold” from Brokerages

Shares of Fogo de Chao, Inc. (NASDAQ:FOGO) have received a consensus recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.42.

Several brokerages recently issued reports on FOGO. Piper Jaffray Companies reissued a “buy” rating and issued a $16.00 price target on shares of Fogo de Chao in a report on Thursday. BidaskClub downgraded Fogo de Chao from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Zacks Investment Research downgraded Fogo de Chao from a “buy” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Canaccord Genuity raised Fogo de Chao from a “hold” rating to a “buy” rating and raised their price target for the stock from $16.00 to $20.00 in a report on Thursday, May 4th.

In other Fogo de Chao news, major shareholder H. Lee Equity Fund Vi Thomas sold 675,000 shares of Fogo de Chao stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $14.00, for a total transaction of $9,450,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Todd M. Abbrecht sold 4,500,000 shares of Fogo de Chao stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $14.00, for a total value of $63,000,000.00. The disclosure for this sale can be found here. 82.80% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in FOGO. OxFORD Asset Management LLP increased its stake in shares of Fogo de Chao by 93.8% in the second quarter. OxFORD Asset Management LLP now owns 65,926 shares of the restaurant operator’s stock valued at $916,000 after buying an additional 31,912 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Fogo de Chao during the second quarter valued at $1,651,000. Nordea Investment Management AB acquired a new stake in shares of Fogo de Chao during the second quarter valued at $210,000. Cooper Creek Partners Management LLC acquired a new stake in shares of Fogo de Chao during the second quarter valued at $4,711,000. Finally, Vanguard Group Inc. increased its stake in shares of Fogo de Chao by 69.3% in the second quarter. Vanguard Group Inc. now owns 371,831 shares of the restaurant operator’s stock valued at $5,168,000 after buying an additional 152,169 shares during the last quarter. 92.43% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Fogo de Chao (NASDAQ:FOGO) opened at 12.90 on Tuesday. The stock has a market cap of $364.23 million, a PE ratio of 16.33 and a beta of 0.36. The stock’s 50 day moving average price is $13.53 and its 200 day moving average price is $14.38. Fogo de Chao has a 1-year low of $10.50 and a 1-year high of $17.05.

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

Fogo de Chao Company Profile

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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