Shares of Fogo de Chao Inc. (NASDAQ:FOGO) have been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $15.75.
A number of analysts have recently commented on the company. Zacks Investment Research raised Fogo de Chao from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Deutsche Bank AG lowered their price target on Fogo de Chao from $20.00 to $14.50 and set a “hold” rating for the company in a research note on Wednesday, August 10th. Canaccord Genuity assumed coverage on Fogo de Chao in a research note on Monday, August 22nd. They issued a “hold” rating and a $13.00 price target for the company. TheStreet lowered Fogo de Chao from a “hold” rating to a “sell” rating in a research report on Wednesday, September 14th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $16.00 price objective (down from $18.00) on shares of Fogo de Chao in a research report on Saturday, August 13th.
Institutional investors have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC increased its position in Fogo de Chao by 90.2% in the second quarter. TIAA CREF Investment Management LLC now owns 494,841 shares of the company’s stock worth $6,463,000 after buying an additional 234,698 shares during the period. Bank of New York Mellon Corp increased its position in Fogo de Chao by 11.1% in the second quarter. Bank of New York Mellon Corp now owns 425,707 shares of the company’s stock worth $5,560,000 after buying an additional 42,383 shares during the period. Spark Investment Management LLC increased its position in Fogo de Chao by 68.7% in the first quarter. Spark Investment Management LLC now owns 84,200 shares of the company’s stock worth $1,314,000 after buying an additional 34,300 shares during the period. Boothbay Fund Management LLC increased its position in Fogo de Chao by 95.4% in the first quarter. Boothbay Fund Management LLC now owns 25,591 shares of the company’s stock worth $399,000 after buying an additional 12,497 shares during the period. Finally, Geode Capital Management LLC increased its position in Fogo de Chao by 14.6% in the first quarter. Geode Capital Management LLC now owns 39,860 shares of the company’s stock worth $622,000 after buying an additional 5,066 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.
Fogo de Chao (NASDAQ:FOGO) opened at 10.70 on Wednesday. Fogo de Chao has a 12 month low of $10.50 and a 12 month high of $17.89. The company has a market cap of $300.94 million, a price-to-earnings ratio of 9.42 and a beta of 0.33. The company’s 50-day moving average is $11.79 and its 200 day moving average is $13.83.
Fogo de Chao (NASDAQ:FOGO) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by $0.03. The company earned $69.60 million during the quarter, compared to the consensus estimate of $73.31 million. Fogo de Chao had a net margin of 11.88% and a return on equity of 10.01%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. Equities analysts forecast that Fogo de Chao will post $0.86 earnings per share for the current fiscal year.
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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