Famous Dave's of America (DAVE) Downgraded by Zacks Investment Research to Hold

Famous Dave's of America (NASDAQ:DAVE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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) “

Separately, Craig Hallum upgraded Famous Dave's of America from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th.

Famous Dave's of America (NASDAQ:DAVE) traded down $0.18 during trading on Tuesday, hitting $5.85. The stock had a trading volume of 101,300 shares, compared to its average volume of 105,264. The stock has a market cap of $41.92, a P/E ratio of -7.70, a price-to-earnings-growth ratio of 5.02 and a beta of 1.38. The company has a current ratio of 1.49, a quick ratio of 1.41 and a debt-to-equity ratio of 0.60. Famous Dave's of America has a 52 week low of $3.38 and a 52 week high of $9.65.

Famous Dave's of America (NASDAQ:DAVE) last released its quarterly earnings data on Monday, November 13th. The restaurant operator reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $21.90 million for the quarter, compared to the consensus estimate of $21.48 million. Famous Dave's of America had a positive return on equity of 0.17% and a negative net margin of 5.74%. The company’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same period last year, the business posted $0.01 EPS. analysts expect that Famous Dave's of America will post 0.07 EPS for the current fiscal year.

An institutional investor recently raised its position in Famous Dave's of America stock. Bandera Partners LLC raised its position in Famous Dave's of America, Inc. (NASDAQ:DAVE) by 31.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,093,265 shares of the restaurant operator’s stock after purchasing an additional 258,893 shares during the quarter. Famous Dave's of America accounts for approximately 3.6% of Bandera Partners LLC’s portfolio, making the stock its 8th largest holding. Bandera Partners LLC owned about 15.71% of Famous Dave's of America worth $3,936,000 at the end of the most recent quarter. Institutional investors and hedge funds own 62.01% of the company’s stock.

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Famous Dave's of America Company Profile

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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