Published On: Fri, Sep 16th, 2016

TheStreet Downgrades Fogo de Chao Inc. (FOGO) to Sell

Fogo de Chao Inc. (NASDAQ:FOGO) was downgraded by research analysts at TheStreet from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
Other research analysts have also recently issued research reports about the company. Jefferies Group cut their price target on Fogo de Chao from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. Deutsche Bank AG cut their price target on Fogo de Chao from $20.00 to $14.50 and set a “hold” rating on the stock in a research note on Wednesday, August 10th. Zacks Investment Research cut Fogo de Chao from a “hold” rating to a “sell” rating in a research note on Wednesday, July 27th. JPMorgan Chase & Co. lowered Fogo de Chao from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $20.00 to $16.00 in a report on Tuesday, May 17th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $16.00 price objective (down from $18.00) on shares of Fogo de Chao in a report on Saturday, August 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $17.06.
Fogo de Chao (NASDAQ:FOGO) traded up 1.10% during mid-day trading on Wednesday, reaching $11.93. The company’s stock had a trading volume of 19,427 shares. The stock has a market capitalization of $335.53 million, a price-to-earnings ratio of 10.50 and a beta of 0.31. The firm has a 50-day moving average of $12.82 and a 200-day moving average of $14.37. Fogo de Chao has a 52 week low of $11.78 and a 52 week high of $18.90.

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Fogo de Chao (NASDAQ:FOGO) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Fogo de Chao had a return on equity of 10.01% and a net margin of 11.88%. The business earned $69.60 million during the quarter, compared to analyst estimates of $73.31 million. During the same quarter last year, the firm posted $0.25 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that Fogo de Chao will post $0.86 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the stock. State Street Corp increased its position in shares of Fogo de Chao by 0.4% in the second quarter. State Street Corp now owns 54,009 shares of the company’s stock valued at $706,000 after buying an additional 199 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Fogo de Chao by 0.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 122,323 shares of the company’s stock valued at $1,598,000 after buying an additional 539 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Fogo de Chao by 1.1% in the second quarter. Vanguard Group Inc. now owns 182,687 shares of the company’s stock valued at $2,386,000 after buying an additional 2,064 shares in the last quarter. BlackRock Investment Management LLC increased its position in shares of Fogo de Chao by 18.6% in the second quarter. BlackRock Investment Management LLC now owns 20,505 shares of the company’s stock valued at $268,000 after buying an additional 3,211 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Fogo de Chao by 14.6% in the first quarter. Geode Capital Management LLC now owns 39,860 shares of the company’s stock valued at $622,000 after buying an additional 5,066 shares in the last quarter. 92.87% of the stock is owned by 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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