Fogo De Chao (FOGO) Rating Increased to Sell at BidaskClub

Fogo De Chao (NASDAQ:FOGO) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other equities research analysts have also recently issued reports on the company. Credit Suisse Group dropped their price objective on Fogo De Chao from $12.00 to $11.50 and set a “neutral” rating on the stock in a research note on Thursday, November 9th. Zacks Investment Research cut Fogo De Chao from a “hold” rating to a “sell” rating in a research note on Thursday, October 19th. TheStreet cut Fogo De Chao from a “c-” rating to a “d+” rating in a research note on Friday, November 3rd. Canaccord Genuity dropped their price objective on Fogo De Chao from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Finally, Jefferies Group reiterated a “buy” rating and set a $14.00 price objective on shares of Fogo De Chao in a research note on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Fogo De Chao currently has a consensus rating of “Hold” and an average target price of $14.17.

Shares of Fogo De Chao (NASDAQ:FOGO) opened at $13.65 on Wednesday. The company has a market capitalization of $385.65 and a P/E ratio of 18.96. 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 12 month low of $10.30 and a 12 month high of $17.05.

Fogo De Chao (NASDAQ:FOGO) last announced its quarterly earnings data on Tuesday, November 7th. The restaurant operator reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Fogo De Chao had a return on equity of 3.57% and a net margin of 3.53%. The company had revenue of $71.40 million for the quarter, compared to analysts’ expectations of $71.40 million. During the same quarter in the prior year, the business posted $0.16 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. equities research analysts expect that Fogo De Chao will post 0.77 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the stock. 683 Capital Management LLC increased its holdings in shares of Fogo De Chao by 26.7% during the 3rd quarter. 683 Capital Management LLC now owns 950,000 shares of the restaurant operator’s stock worth $11,780,000 after acquiring an additional 200,000 shares during the last quarter. Algert Global LLC acquired a new position in shares of Fogo De Chao during the 3rd quarter worth approximately $699,000. OxFORD Asset Management LLP increased its holdings in shares of Fogo De Chao by 50.1% during the 3rd quarter. OxFORD Asset Management LLP now owns 98,984 shares of the restaurant operator’s stock worth $1,229,000 after acquiring an additional 33,058 shares during the last quarter. Archon Capital Management LLC increased its holdings in shares of Fogo De Chao by 44.5% during the 3rd quarter. Archon Capital Management LLC now owns 544,267 shares of the restaurant operator’s stock worth $6,749,000 after acquiring an additional 167,607 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Fogo De Chao during the 3rd quarter worth approximately $161,000. 85.98% of the stock is currently owned by institutional investors and hedge funds.

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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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