Zoe’s Kitchen’s (ZOES) “Buy” Rating Reaffirmed at Maxim Group

Maxim Group restated their buy rating on shares of Zoe’s Kitchen, Inc. (NYSE:ZOES) in a report published on Thursday. The brokerage currently has a $20.00 price objective on the restaurant operator’s stock.

“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.”,” Maxim Group’s analyst commented.

A number of other brokerages also recently issued reports on ZOES. Zacks Investment Research downgraded Zoe’s Kitchen from a hold rating to a sell rating in a research report on Thursday, October 19th. Robert W. Baird reissued a hold rating and set a $15.00 price target on shares of Zoe’s Kitchen in a research report on Tuesday, September 19th. Deutsche Bank AG reissued a hold rating and set a $13.00 price target (down previously from $15.00) on shares of Zoe’s Kitchen in a research report on Monday, July 10th. Credit Suisse Group reduced their price target on Zoe’s Kitchen from $13.00 to $12.50 and set an underperform rating on the stock in a research report on Friday, August 18th. Finally, Telsey Advisory Group raised Zoe’s Kitchen from a market perform rating to an outperform rating and increased their price target for the stock from $15.00 to $17.00 in a research report on Thursday, August 17th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Zoe’s Kitchen currently has a consensus rating of Hold and an average price target of $17.55.

Shares of Zoe’s Kitchen (NYSE ZOES) remained flat at $$12.24 during trading hours on Thursday. The company had a trading volume of 346,929 shares, compared to its average volume of 364,118. Zoe’s Kitchen has a 52 week low of $10.77 and a 52 week high of $27.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.54 and a current ratio of 0.63.

Zoe’s Kitchen (NYSE:ZOES) last issued its quarterly earnings results on Thursday, August 17th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. The business had revenue of $74.30 million for 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 quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 earnings per share. analysts forecast that Zoe’s Kitchen will post -0.09 EPS for the current fiscal year.

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In other Zoe’s Kitchen news, Director A Alexander Taylor II bought 3,100 shares of Zoe’s Kitchen stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average price of $12.87 per share, with a total value of $39,897.00. Following the acquisition, the director now owns 7,508 shares in the company, valued at approximately $96,627.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

Several hedge funds have recently modified their holdings of ZOES. Bamco Inc. NY lifted its stake in shares of Zoe’s Kitchen by 26.5% in the 2nd quarter. Bamco Inc. NY now owns 1,200,000 shares of the restaurant operator’s stock valued at $14,292,000 after acquiring an additional 251,431 shares during the last quarter. Peregrine Capital Management LLC lifted its stake in shares of Zoe’s Kitchen by 1.6% in the 3rd quarter. Peregrine Capital Management LLC now owns 830,859 shares of the restaurant operator’s stock valued at $10,494,000 after acquiring an additional 13,286 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Zoe’s Kitchen by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 790,783 shares of the restaurant operator’s stock valued at $14,629,000 after acquiring an additional 51,682 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Zoe’s Kitchen by 0.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 734,530 shares of the restaurant operator’s stock valued at $8,748,000 after acquiring an additional 2,493 shares during the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of Zoe’s Kitchen in the 2nd quarter valued at $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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