Zacks Investment Research lowered shares of Famous Dave’s of America Inc. (NASDAQ:DAVE) from a hold rating to a strong sell rating in a report released on Wednesday morning.

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) “

Shares of Famous Dave’s of America (NASDAQ:DAVE) remained flat at $4.90 during mid-day trading on Wednesday. The company had a trading volume of 4,545 shares. The stock has a market cap of $34.09 billion, a P/E ratio of 49.00 and a beta of 1.21. Famous Dave’s of America has a 1-year low of $4.75 and a 1-year high of $9.04. The firm’s 50 day moving average price is $5.16 and its 200-day moving average price is $5.41.

Famous Dave’s of America (NASDAQ:DAVE) last announced its quarterly earnings data on Monday, November 14th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.09. The company had revenue of $25.50 million for the quarter, compared to the consensus estimate of $25.50 million. Famous Dave’s of America had a negative net margin of 7.25% and a positive return on equity of 2.74%. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period last year, the business posted ($0.05) earnings per share. Equities research analysts forecast that Famous Dave’s of America will post $0.30 earnings per share for the current year.

An institutional investor recently raised its position in Famous Dave’s of America stock. Bandera Partners LLC raised its stake in Famous Dave’s of America Inc. (NASDAQ:DAVE) by 9.9% during the second quarter, according to its most recent filing with the 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 accounts for about 2.3% of Bandera Partners LLC’s portfolio, making the stock its 9th largest position. Bandera Partners LLC owned 10.03% of Famous Dave’s of America worth $3,509,000 as of its most recent SEC filing. Institutional investors own 69.91% 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.

5 Day Chart for NASDAQ:DAVE

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