Famous Dave’s of America Inc. (DAVE) Upgraded at Zacks Investment Research
Famous Dave’s of America Inc. (NASDAQ:DAVE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $6.00 target price on the stock. Zacks Investment Research’s price target would suggest a potential upside of 14.29% from the stock’s previous close.
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) “
Famous Dave’s of America (NASDAQ:DAVE) traded down 0.57% on Tuesday, reaching $5.25. The company had a trading volume of 6,987 shares. The company’s market capitalization is $36.52 million. Famous Dave’s of America has a 52 week low of $4.75 and a 52 week high of $12.81. The stock’s 50-day moving average is $5.60 and its 200-day moving average is $5.56.
Famous Dave’s of America (NASDAQ:DAVE) last issued its quarterly earnings data on Monday, August 15th. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.05. Famous Dave’s of America had a positive return on equity of 1.07% and a negative net margin of 3.92%. The company had revenue of $28.04 million for the quarter, compared to analysts’ expectations of $28.72 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. Equities research analysts forecast that Famous Dave’s of America will post $0.30 EPS for the current fiscal year.
In related news, major shareholder Bandera Partners Llc acquired 136,754 shares of Famous Dave’s of America stock in a transaction on Thursday, July 21st. The shares were bought at an average cost of $5.00 per share, with a total value of $683,770.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 39.38% of the company’s stock.
An institutional investor recently raised its position in Famous Dave’s of America stock. Bandera Partners LLC raised its stake in shares of Famous Dave’s of America Inc. (NASDAQ:DAVE) by 9.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 697,618 shares of the company’s stock after buying an additional 62,699 shares during the period. Famous Dave’s of America comprises 2.3% of Bandera Partners LLC’s investment portfolio, making the stock its 9th largest position. Bandera Partners LLC owned approximately 10.03% of Famous Dave’s of America worth $3,509,000 as of its most recent SEC filing. Institutional investors own 70.16% 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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