Zacks Investment Research upgraded shares of Famous Dave’s of America Inc. (NASDAQ:DAVE) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $6.00 target price on the stock.
According to Zacks, “Famous Dave’s owns, operates and franchises barbeque restaurants and blues clubs. The company currently owns locations and franchises locations in Minnesota, Wisconsin, Illinois, Iowa, Nebraska, Utah, Maryland and Virginia and has signed development agreements for an additional franchised locations. Its menu features award-winning barbecued and grilled meats, an ample selection of salads, side items, sandwiches and unique desserts. (Press Release) “
Famous Dave’s of America (NASDAQ:DAVE) opened at 5.16 on Tuesday. Famous Dave’s of America has a 12 month low of $4.75 and a 12 month high of $12.81. The company’s 50-day moving average is $5.53 and its 200 day moving average is $5.56. The company’s market cap is $35.90 million.
Famous Dave’s of America (NASDAQ:DAVE) last released its earnings results on Monday, August 15th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.05. The company had revenue of $28.04 million for the quarter, compared to analyst estimates of $28.72 million. Famous Dave’s of America had a positive return on equity of 1.07% and a negative net margin of 3.92%. Famous Dave’s of America’s quarterly revenue was down 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. Equities analysts forecast that Famous Dave’s of America will post $0.30 earnings per share for the current fiscal year.
In other Famous Dave’s of America news, major shareholder Bandera Partners Llc acquired 136,754 shares of Famous Dave’s of America stock in a transaction that occurred on Thursday, July 21st. The shares were acquired at an average cost of $5.00 per share, with a total value of $683,770.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 39.38% of the company’s stock.
A hedge fund recently raised its stake in Famous Dave’s of America stock. Bandera Partners LLC boosted its position in shares of Famous Dave’s of America Inc. (NASDAQ:DAVE) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 697,618 shares of the company’s stock after buying an additional 62,699 shares during the period. Famous Dave’s of America accounts for about 2.3% of Bandera Partners LLC’s portfolio, making the stock its 9th largest position. Bandera Partners LLC owned 10.03% of Famous Dave’s of America worth $3,509,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 70.16% of the company’s stock.
About Famous Dave’s of America
Famous Dave’s of America, Inc (Famous Dave’s) operates restaurants. The Company’s restaurants, which offer full table service, feature wood-smoked and off-the-grill entree favorites that fit into the barbeque category. It has the Company-owned and franchise-operated restaurants in the United States, the Commonwealth of Puerto Rico, and Canada, and it operates within the industry segment of foodservice.
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