Fogo de Chao, Inc. (FOGO) Receives $16.42 Consensus Target Price from Analysts
Shares of Fogo de Chao, Inc. (NASDAQ:FOGO) have earned an average recommendation of “Hold” from the nine brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $16.42.
Several equities research analysts recently commented on the company. Piper Jaffray Companies reissued a “buy” rating and issued 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 note on Monday, August 14th. Finally, Zacks Investment Research raised Fogo de Chao from a “sell” rating to a “hold” rating in a research note on Monday, September 11th.
Fogo de Chao (NASDAQ FOGO) traded down 0.80% on Wednesday, reaching $12.40. 97,810 shares of the company traded hands. The firm has a 50 day moving average price of $12.50 and a 200 day moving average price of $13.13. The stock has a market capitalization of $350.11 million, a price-to-earnings ratio of 15.70 and a beta of 0.38. Fogo de Chao has a 52-week low of $10.50 and a 52-week high of $14.95.
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 Thomson Reuters’ consensus estimate of $0.23 by ($0.02). The firm had revenue of $77.80 million during the quarter, compared to the consensus estimate of $77.46 million. Fogo de Chao had a net margin of 7.40% and a return on equity of 8.08%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. Equities research analysts predict that Fogo de Chao will post $0.91 EPS for the current year.
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A number of institutional investors have recently made changes to their positions in FOGO. Bank of New York Mellon Corp boosted its position in Fogo de Chao by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 51,005 shares of the restaurant operator’s stock worth $829,000 after purchasing an additional 2,537 shares during the period. Oxford Asset Management acquired a new position in shares of Fogo de Chao during the first quarter worth approximately $553,000. River & Mercantile Asset Management LLP lifted its holdings in shares of Fogo de Chao by 7.9% during the first quarter. River & Mercantile Asset Management LLP now owns 202,140 shares of the restaurant operator’s stock worth $3,280,000 after buying an additional 14,800 shares during the last quarter. Thomson Horstmann & Bryant Inc. lifted its holdings in shares of Fogo de Chao by 438.6% during the second quarter. Thomson Horstmann & Bryant Inc. now owns 520,499 shares of the restaurant operator’s stock worth $7,234,000 after buying an additional 423,859 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Fogo de Chao during the second quarter worth approximately $920,000. 85.65% of the stock is owned by hedge funds and other institutional investors.
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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