Zacks Investment Research upgraded shares of Fogo De Chao (NASDAQ:FOGO) from a strong sell rating to a hold rating in a report released on Wednesday 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. “

Other research analysts also recently issued research reports about the company. BidaskClub raised Fogo De Chao from a strong sell rating to a sell rating in a research note on Wednesday. Canaccord Genuity cut their target price on Fogo De Chao from $17.00 to $15.00 and set a buy rating for the company in a research report on Wednesday, October 18th. ValuEngine upgraded Fogo De Chao from a hold rating to a buy rating in a research report on Monday, October 2nd. Jefferies Group reiterated a buy rating and set a $14.00 target price on shares of Fogo De Chao in a research report on Friday, December 22nd. Finally, Credit Suisse Group cut their target price on Fogo De Chao from $15.00 to $12.00 and set a neutral rating for the company in a research report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $14.17.

Fogo De Chao (NASDAQ FOGO) traded down $0.10 during midday trading on Wednesday, hitting $13.70. The stock had a trading volume of 29,443 shares, compared to its average volume of 72,671. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.54 and a quick ratio of 1.41. Fogo De Chao has a 1 year low of $10.30 and a 1 year high of $17.05. The company has a market capitalization of $387.07, a P/E ratio of 17.79, a P/E/G ratio of 1.12 and a beta of 0.38.

Fogo De Chao (NASDAQ:FOGO) last posted its quarterly earnings data on Tuesday, November 7th. The restaurant operator reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. Fogo De Chao had a return on equity of 7.36% and a net margin of 6.76%. The firm had revenue of $71.40 million for the quarter, compared to the consensus estimate of $71.40 million. During the same quarter last year, the company earned $0.16 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. analysts forecast that Fogo De Chao will post 0.77 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in FOGO. Cooper Creek Partners Management LLC purchased a new stake in shares of Fogo De Chao during the second quarter worth about $4,711,000. 683 Capital Management LLC grew its holdings in Fogo De Chao by 26.7% during the 3rd quarter. 683 Capital Management LLC now owns 950,000 shares of the restaurant operator’s stock valued at $11,780,000 after buying an additional 200,000 shares in the last quarter. Archon Capital Management LLC grew its holdings in Fogo De Chao by 44.5% during the 3rd quarter. Archon Capital Management LLC now owns 544,267 shares of the restaurant operator’s stock valued at $6,749,000 after buying an additional 167,607 shares in the last quarter. Vanguard Group Inc. grew its holdings in Fogo De Chao by 69.3% during the 2nd quarter. Vanguard Group Inc. now owns 371,831 shares of the restaurant operator’s stock valued at $5,168,000 after buying an additional 152,169 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in Fogo De Chao during the 2nd quarter valued at approximately $1,651,000. Hedge funds and other institutional investors own 85.98% of the company’s stock.

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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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