Zacks Investment Research cut shares of Fogo De Chao (NASDAQ:FOGO) from a hold rating to a sell rating in a research note issued to investors on Monday, February 19th.
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. “
FOGO has been the topic of several other research reports. Jefferies Group reaffirmed a buy rating and issued a $14.00 price target on shares of Fogo De Chao in a research note on Friday, December 22nd. BidaskClub lowered Fogo De Chao from a hold rating to a sell rating in a research note on Wednesday, January 31st. Credit Suisse Group reduced their price target on Fogo De Chao from $15.00 to $12.00 and set a neutral rating on the stock in a research report on Monday, October 23rd. ValuEngine lowered Fogo De Chao from a buy rating to a hold rating in a research report on Sunday, December 31st. Finally, TheStreet raised Fogo De Chao from a d+ rating to a c- rating in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Fogo De Chao currently has a consensus rating of Hold and an average price target of $14.88.
Shares of Fogo De Chao (NASDAQ FOGO) traded up $0.05 during trading on Monday, hitting $15.75. The stock had a trading volume of 482,744 shares, compared to its average volume of 194,419. Fogo De Chao has a twelve month low of $10.30 and a twelve month high of $17.05. The firm has a market cap of $443.60, a price-to-earnings ratio of 15.83, a PEG ratio of 1.28 and a beta of 0.18. The company has a current ratio of 1.54, a quick ratio of 1.41 and a debt-to-equity ratio of 0.46.
A number of institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan lifted its position in Fogo De Chao by 42.9% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 32,420 shares of the restaurant operator’s stock worth $376,000 after acquiring an additional 9,740 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Fogo De Chao in the 4th quarter valued at approximately $141,000. Deutsche Bank AG raised its holdings in Fogo De Chao by 96.6% during the fourth quarter. Deutsche Bank AG now owns 21,052 shares of the restaurant operator’s stock worth $243,000 after purchasing an additional 10,345 shares during the last quarter. Billings Capital Management LLC acquired a new position in Fogo De Chao during the fourth quarter worth $480,000. Finally, Jefferies Group LLC raised its holdings in Fogo De Chao by 36.2% during the fourth quarter. Jefferies Group LLC now owns 18,400 shares of the restaurant operator’s stock worth $213,000 after purchasing an additional 4,892 shares during the last quarter. 90.66% of the stock is owned by institutional investors.
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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).
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