Fogo de Chao, Inc. (FOGO) Receives $16.70 Average Price Target from Analysts
Fogo de Chao, Inc. (NASDAQ:FOGO) has been assigned a consensus rating of “Hold” from the nine analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $16.70.
A number of equities research analysts have issued reports on FOGO shares. Zacks Investment Research cut shares of Fogo de Chao from a “buy” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub cut shares of Fogo de Chao from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Piper Jaffray Companies restated a “buy” rating and set a $16.00 price target on shares of Fogo de Chao in a report on Thursday, August 10th. Finally, ValuEngine upgraded shares of Fogo de Chao from a “hold” rating to a “buy” rating in a report on Monday, October 2nd.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOGO. Bank of New York Mellon Corp lifted its stake in shares of Fogo de Chao by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 51,005 shares of the restaurant operator’s stock valued at $829,000 after buying an additional 2,537 shares during the period. Oxford Asset Management bought a new stake in shares of Fogo de Chao in the first quarter valued at about $553,000. Thomson Horstmann & Bryant Inc. lifted its stake in shares of Fogo de Chao by 438.6% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 520,499 shares of the restaurant operator’s stock valued at $7,234,000 after buying an additional 423,859 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Fogo de Chao in the second quarter valued at about $920,000. Finally, Spark Investment Management LLC lifted its stake in shares of Fogo de Chao by 129.0% in the second quarter. Spark Investment Management LLC now owns 29,800 shares of the restaurant operator’s stock valued at $414,000 after buying an additional 16,788 shares during the period. Institutional investors and hedge funds own 85.65% of the company’s stock.
Fogo de Chao (FOGO) traded down 1.58% on Friday, hitting $12.45. The company had a trading volume of 98,648 shares. The stock has a market cap of $351.53 million, a P/E ratio of 15.76 and a beta of 0.37. Fogo de Chao has a 12-month low of $10.70 and a 12-month high of $17.05. The firm’s 50 day moving average price is $12.38 and its 200 day moving average price is $12.38.
Fogo de Chao (NASDAQ:FOGO) last released its quarterly earnings results on Tuesday, August 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). Fogo de Chao had a net margin of 7.40% and a return on equity of 8.08%. The firm had revenue of $77.80 million for the quarter, compared to the consensus estimate of $77.46 million. During the same quarter last year, the company earned $0.22 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. Equities analysts predict that Fogo de Chao will post $0.91 earnings per share for the current fiscal year.
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Fogo de Chao Company Profile
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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