Famous Dave’s of America Inc. (DAVE) Upgraded to “Buy” 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 report released on Tuesday. The brokerage presently has a $6.00 target price on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 14.29% from the company’s previous close.
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) “
Famous Dave’s of America (NASDAQ:DAVE) traded down 0.57% during trading on Tuesday, reaching $5.25. 6,987 shares of the company were exchanged. The company’s market capitalization is $36.52 million. Famous Dave’s of America has a one year low of $4.75 and a one year high of $12.81. The firm’s 50-day moving average is $5.60 and its 200 day moving average is $5.56.
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Famous Dave’s of America (NASDAQ:DAVE) last released its quarterly earnings data on Monday, August 15th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. Famous Dave’s of America had a negative net margin of 3.92% and a positive return on equity of 1.07%. The company earned $28.04 million during the quarter, compared to analyst estimates of $28.72 million. During the same period last year, the business earned $0.18 earnings per share. Famous Dave’s of America’s revenue was down 14.3% compared to the same quarter last year. On average, analysts anticipate that Famous Dave’s of America will post $0.30 EPS for the current fiscal year.
In related news, major shareholder Bandera Partners Llc bought 136,754 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was acquired at an average cost of $5.00 per share, for a total transaction of $683,770.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 39.38% of the company’s stock.
An institutional investor recently raised its position in Famous Dave’s of America stock. Bandera Partners LLC raised its stake in Famous Dave’s of America Inc. (NASDAQ:DAVE) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 697,618 shares of the company’s stock after buying an additional 62,699 shares during the period. Famous Dave’s of America accounts for 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.
About Famous Dave’s of America
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.
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