The Fogo De Chao Inc (FOGO) Stock Rating Lowered by Zacks Investment Research

The Fogo De Chao Inc (FOGO) Stock Rating Lowered by Zacks Investment Research

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. “

Zacks Investment Research cut shares of Fogo De Chao Inc (NASDAQ:FOGO) from a buy rating to a hold rating in a research note released on Tuesday.

FOGO has been the subject of several other reports. Canaccord Genuity reiterated a hold rating and issued a $13.00 price objective on shares of Fogo De Chao in a report on Friday, February 24th. Deutsche Bank AG lifted their price objective on Fogo De Chao from $14.50 to $15.00 and gave the stock a hold rating in a report on Wednesday, March 15th. Jefferies Group LLC reiterated a buy rating and issued a $17.00 price objective on shares of Fogo De Chao in a report on Wednesday, March 15th. Finally, Wells Fargo & Co lifted their price objective on Fogo De Chao from $13.25 to $15.50 and gave the stock an in-line rating in a report on Wednesday, March 15th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $16.36.

FOGO has been the subject of several other reports. Canaccord Genuity reiterated a hold rating and issued a $13.00 price objective on shares of Fogo De Chao in a report on Friday, February 24th. Deutsche Bank AG lifted their price objective on Fogo De Chao from $14.50 to $15.00 and gave the stock a hold rating in a report on Wednesday, March 15th. Jefferies Group LLC reiterated a buy rating and issued a $17.00 price objective on shares of Fogo De Chao in a report on Wednesday, March 15th. Finally, Wells Fargo & Co lifted their price objective on Fogo De Chao from $13.25 to $15.50 and gave the stock an in-line rating in a report on Wednesday, March 15th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $16.36. Fogo De Chao (FOGO) opened at 13.95 on Tuesday. The company has a 50 day moving average of $15.14 and a 200-day moving average of $14.61. Fogo De Chao has a one year low of $10.50 and a one year high of $17.05. The stock has a market capitalization of $393.56 million, a P/E ratio of 17.22 and a beta of 0.44.

In other Fogo De Chao news, Director Todd M. Abbrecht sold 4,500,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $14.00, for a total transaction of $63,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 675,000 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $14.00, for a total value of $9,450,000.00. The disclosure for this sale can be found here. Insiders own 82.00% of the company’s stock. Several large investors have recently added to or reduced their stakes in FOGO. Two Sigma Investments LP purchased a new stake in Fogo De Chao during the fourth quarter worth about $183,000. KDI Capital Partners LLC increased its stake in Fogo De Chao by 16.5% in the third quarter. KDI Capital Partners LLC now owns 20,537 shares of the restaurant operator’s stock worth $217,000 after buying an additional 2,902 shares in the last quarter. Redmond Asset Management LLC increased its stake in Fogo De Chao by 0.5% in the fourth quarter. Redmond Asset Management LLC now owns 20,249 shares of the restaurant operator’s stock worth $291,000 after buying an additional 100 shares in the last quarter. Oxford Asset Management purchased a new stake in Fogo De Chao during the first quarter worth about $553,000. Finally, Geode Capital Management LLC increased its stake in Fogo De Chao by 5.9% in the first quarter. Geode Capital Management LLC now owns 50,548 shares of the restaurant operator’s stock worth $821,000 after buying an additional 2,808 shares in the last quarter. Institutional investors and hedge funds own 91.20% of the company’s stock.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:FOGO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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