Fogo de Chao, Inc. (FOGO) Downgraded by TheStreet

TheStreet downgraded shares of Fogo de Chao, Inc. (NASDAQ:FOGO) from a c- rating to a d+ rating in a report published on Friday, November 3rd.

Several other equities analysts have also issued reports on the company. Canaccord Genuity dropped their price target on Fogo de Chao from $17.00 to $15.00 and set a buy rating on the stock in a research note on Wednesday, October 18th. ValuEngine raised Fogo de Chao from a hold rating to a buy rating in a research note on Monday, October 2nd. BidaskClub downgraded Fogo de Chao from a sell rating to a strong sell rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded Fogo de Chao from a sell rating to a hold rating in a report on Monday, September 11th. Finally, Piper Jaffray Companies reaffirmed a buy rating and set a $16.00 price target on shares of Fogo de Chao in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $14.67.

Fogo de Chao (NASDAQ FOGO) opened at $11.30 on Friday. Fogo de Chao has a 12-month low of $10.30 and a 12-month high of $17.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.54 and a quick ratio of 1.41. The company has a market capitalization of $323.50, a price-to-earnings ratio of 14.87, a P/E/G ratio of 1.01 and a beta of 0.32.

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

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in 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. New York State Common Retirement Fund increased its holdings in shares of Fogo de Chao by 221.1% in the 2nd quarter. New York State Common Retirement Fund now owns 10,600 shares of the restaurant operator’s stock worth $147,000 after purchasing an additional 7,299 shares in the last quarter. Nationwide Fund Advisors increased its holdings in shares of Fogo de Chao by 269.6% in the 2nd quarter. Nationwide Fund Advisors now owns 11,095 shares of the restaurant operator’s stock worth $154,000 after purchasing an additional 8,093 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Fogo de Chao by 83.3% in the 2nd quarter. Citigroup Inc. now owns 11,663 shares of the restaurant operator’s stock worth $162,000 after purchasing an additional 5,299 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Fogo de Chao in the 3rd quarter worth $161,000. Institutional investors own 84.91% of the company’s stock.

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).

Analyst Recommendations for Fogo de Chao (NASDAQ:FOGO)

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