Fogo De Chao Inc (FOGO) is Reiterated by Deutsche Bank to Hold, Lowers Price Target to $ 14.50

Fogo De Chao Inc (FOGO) was Reiterated by Deutsche Bank to “Hold” while Lowering the Price Target of the company shares to $ 14.50 from a previous price target of $20 . Deutsche Bank advised their investors in a research report released on Aug 10, 2016.

Many Wall Street Analysts have commented on Fogo De Chao Inc. Fogo De Chao Inc was Downgraded by Macquarie to ” Neutral” on May 24, 2016. Shares were Downgraded by JP Morgan on May 17, 2016 to ” Neutral” and Lowered the Price Target to $ 16 from a previous price target of $20 .

On the company’s financial health, Fogo De Chao Inc reported $0.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.25. The company had revenue of $69.60 million for the quarter, compared to analysts expectations of $73.31 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

Fogo De Chao Inc closed down -0.04 points or -0.29% at $13.86 with 31,476 shares getting traded on Monday. Post opening the session at $13.92, the shares hit an intraday low of $13.7128 and an intraday high of $13.95 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 24, 2015, Eulila Selma Oliveira (COO) purchased 2,640 shares at $20.00 per share price. According to the SEC, on Jun 24, 2015, Neil Moses (director) purchased 5,300 shares at $20.00 per share price. On Jun 24, 2015, George Barry Mcgowan (President) purchased 10,956 shares at $20.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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). The Company operates through two segments: United States and Brazil. It specializes in fire-roasting meats utilizing the centuries-old Southern Brazilian cooking technique of churrasco. The Company offers its guests a tasting menu of meats featuring up to 20 cuts simply seasoned and fire-roasted to expose their natural flavors. The Company operates approximately 26 restaurants in the United States 10 in Brazil and one in Mexico. The Company operates a range of restaurant formats including in-line and free-standing locations. Its restaurants range in size from approximately 7000 to 16000 square feet with seating from 200 to 500 guests.

Fogo De Chao Inc

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