Zacks Investment Research Lowers Famous Dave's of America, Inc. (DAVE) to Strong Sell

Famous Dave's of America, Inc. (NASDAQ:DAVE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday.

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, TheStreet cut shares of Famous Dave's of America from a “hold” rating to a “sell” rating in a report on Tuesday, November 15th.

Shares of Famous Dave's of America (NASDAQ:DAVE) traded down 1.86% during trading on Thursday, reaching $3.95. The company’s stock had a trading volume of 5,220 shares. The stock’s market capitalization is $27.48 million. The company’s 50-day moving average price is $5.08 and its 200 day moving average price is $5.10. Famous Dave's of America has a 1-year low of $3.90 and a 1-year high of $6.73.

Famous Dave's of America (NASDAQ:DAVE) last released its quarterly earnings results on Monday, March 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.05. Famous Dave's of America had a negative net margin of 7.25% and a positive return on equity of 2.79%. The firm had revenue of $22.60 million for the quarter, compared to the consensus estimate of $22.92 million. During the same quarter last year, the company earned ($0.08) earnings per share. The firm’s revenue was down 11.0% on a year-over-year basis. Analysts anticipate that Famous Dave's of America will post $0.18 EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in Famous Dave's of America by 5.9% in the fourth quarter. Renaissance Technologies LLC now owns 316,300 shares of the company’s stock worth $1,566,000 after buying an additional 17,700 shares during the period. Raging Capital Management LLC purchased a new stake in Famous Dave's of America during the fourth quarter worth about $2,661,000. Finally, Bandera Partners LLC boosted its stake in Famous Dave's of America by 19.6% in the third quarter. Bandera Partners LLC now owns 834,372 shares of the company’s stock worth $4,572,000 after buying an additional 136,754 shares during the period. Institutional investors own 72.26% of the company’s stock.

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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