Famous Dave’s of America Inc. (DAVE) Upgraded at Zacks Investment Research
Famous Dave’s of America Inc. (NASDAQ:DAVE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $6.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 14.29% from the stock’s current price.
According to Zacks, “Famous Dave’s owns, operates and franchises barbeque restaurants and blues clubs. The company currently owns locations and franchises locations in Minnesota, Wisconsin, Illinois, Iowa, Nebraska, Utah, Maryland and Virginia and has signed development agreements for an additional franchised locations. Its menu features award-winning barbecued and grilled meats, an ample selection of salads, side items, sandwiches and unique desserts. (Press Release) “
Shares of Famous Dave’s of America (NASDAQ:DAVE) traded down 0.57% during mid-day trading on Tuesday, hitting $5.25. The company had a trading volume of 6,987 shares. The firm’s market capitalization is $36.52 million. Famous Dave’s of America has a 52-week low of $4.75 and a 52-week high of $12.81. The firm has a 50-day moving average price of $5.60 and a 200 day moving average price of $5.56.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/famous-daves-of-america-inc-dave-upgraded-at-zacks-investment-research.html
Famous Dave’s of America (NASDAQ:DAVE) last issued its quarterly earnings results on Monday, August 15th. The company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. The firm had revenue of $28.04 million for the quarter, compared to analyst estimates of $28.72 million. Famous Dave’s of America had a negative net margin of 3.92% and a positive return on equity of 1.07%. Famous Dave’s of America’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period last year, the company posted $0.18 EPS. Analysts expect that Famous Dave’s of America will post $0.30 earnings per share for the current year.
In related news, major shareholder Bandera Partners Llc purchased 136,754 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were purchased at an average cost of $5.00 per share, with a total value of $683,770.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 39.38% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in Famous Dave’s of America stock. Bandera Partners LLC raised its position in shares of Famous Dave’s of America Inc. (NASDAQ:DAVE) by 9.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 697,618 shares of the company’s stock after buying an additional 62,699 shares during the period. Famous Dave’s of America makes up about 2.3% of Bandera Partners LLC’s portfolio, making the stock its 9th largest position. Bandera Partners LLC owned about 10.03% of Famous Dave’s of America worth $3,509,000 as of its most recent SEC filing. 70.16% of the stock is owned by institutional investors and hedge funds.
Famous Dave’s of America Company Profile
Famous Dave’s of America, Inc (Famous Dave’s) operates restaurants. The Company’s restaurants, which offer full table service, feature wood-smoked and off-the-grill entree favorites that fit into the barbeque category. It has the Company-owned and franchise-operated restaurants in the United States, the Commonwealth of Puerto Rico, and Canada, and it operates within the industry segment of foodservice.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Famous Dave's of America Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Famous Dave's of America Inc. and related companies with MarketBeat.com's FREE daily email newsletter.