Fogo De Chao (FOGO) Stock Rating Lowered by Zacks Investment Research

Fogo De Chao (NASDAQ:FOGO) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday.

According to Zacks, “Fogo De Chao, Inc. owns and operates Brazilian steakhouses. It offers beef, lamb, chicken, pork and seafood items as well as liquor, beer and wine. The company operates primarily in the United States, Puerto Rico and Brazil. Fogo De Chao, Inc. is headquartered in Dallas, Texas. “

A number of other equities analysts also recently weighed in on the stock. ValuEngine downgraded shares of Fogo De Chao from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Jefferies Group reissued a “buy” rating and set a $14.00 target price on shares of Fogo De Chao in a research note on Friday, December 22nd. BidaskClub raised shares of Fogo De Chao from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 14th. Credit Suisse Group reduced their price target on shares of Fogo De Chao from $12.00 to $11.50 and set a “neutral” rating for the company in a report on Thursday, November 9th. Finally, Canaccord Genuity reduced their price target on shares of Fogo De Chao from $15.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.17.

Fogo De Chao (NASDAQ:FOGO) traded up $0.05 during mid-day trading on Wednesday, hitting $12.05. 60,500 shares of the stock traded hands, compared to its average volume of 47,133. Fogo De Chao has a 12-month low of $10.30 and a 12-month high of $17.05. The company has a market capitalization of $339.04, a P/E ratio of 16.74, a P/E/G ratio of 0.98 and a beta of 0.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.54 and a quick ratio of 1.41.

Fogo De Chao (NASDAQ:FOGO) last announced its earnings results on Tuesday, November 7th. The restaurant operator reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. Fogo De Chao had a net margin of 6.76% and a return on equity of 7.36%. The business had revenue of $71.40 million during the quarter, compared to the consensus estimate of $71.40 million. During the same quarter last year, the firm earned $0.16 earnings per share. Fogo De Chao’s quarterly revenue was up 3.5% on a year-over-year basis. sell-side analysts expect that Fogo De Chao will post 0.77 earnings per share for the current year.

A number of large investors have recently bought and sold shares of FOGO. Bessemer Group Inc. grew its holdings in shares of Fogo De Chao by 132.5% during the third quarter. Bessemer Group Inc. now owns 8,300 shares of the restaurant operator’s stock valued at $103,000 after buying an additional 4,730 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Fogo De Chao by 83.3% during the second quarter. Citigroup Inc. now owns 11,663 shares of the restaurant operator’s stock valued at $162,000 after buying an additional 5,299 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Fogo De Chao by 1.2% during the second quarter. TIAA CREF Investment Management LLC now owns 523,992 shares of the restaurant operator’s stock valued at $7,283,000 after buying an additional 6,017 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Fogo De Chao by 65.7% during the second quarter. California State Teachers Retirement System now owns 16,647 shares of the restaurant operator’s stock valued at $231,000 after buying an additional 6,600 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Fogo De Chao by 221.1% during the second quarter. New York State Common Retirement Fund now owns 10,600 shares of the restaurant operator’s stock valued at $147,000 after buying an additional 7,299 shares during the last quarter. Institutional investors and hedge funds own 85.98% of the company’s stock.

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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).

Analyst Recommendations for Fogo De Chao (NASDAQ:FOGO)

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