Zacks Investment Research upgraded shares of Fogo De Chao Inc (NASDAQ:FOGO) from a sell rating to a hold rating in a research note issued to investors on Monday morning.

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. Piper Jaffray Companies restated a buy rating and set a $16.00 price target on shares of Fogo De Chao in a research note on Thursday, August 10th. BidaskClub raised Fogo De Chao from a strong sell rating to a sell rating in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $16.36.

Shares of Fogo De Chao (NASDAQ FOGO) opened at 12.55 on Monday. Fogo De Chao has a one year low of $10.50 and a one year high of $17.05. The stock’s 50 day moving average is $13.05 and its 200-day moving average is $14.21. The company has a market cap of $354.35 million, a PE ratio of 15.89 and a beta of 0.38.

Fogo De Chao (NASDAQ:FOGO) last announced its quarterly earnings results on Tuesday, August 8th. The restaurant operator reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by $0.02. The firm had revenue of $77.80 million for the quarter, compared to analysts’ expectations of $77.46 million. Fogo De Chao had a net margin of 6.78% and a return on equity of 7.23%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 EPS. Equities research analysts expect that Fogo De Chao will post $0.91 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in Fogo De Chao by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 51,005 shares of the restaurant operator’s stock worth $829,000 after acquiring an additional 2,537 shares in the last quarter. Citigroup Inc. raised its stake in shares of Fogo De Chao by 83.3% in the second quarter. Citigroup Inc. now owns 11,663 shares of the restaurant operator’s stock worth $162,000 after purchasing an additional 5,299 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Fogo De Chao by 1.2% in the second quarter. TIAA CREF Investment Management LLC now owns 523,992 shares of the restaurant operator’s stock worth $7,283,000 after purchasing an additional 6,017 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Fogo De Chao by 65.7% in the second quarter. California State Teachers Retirement System now owns 16,647 shares of the restaurant operator’s stock worth $231,000 after purchasing an additional 6,600 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Fogo De Chao by 221.1% in the second 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 during the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

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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