Zacks Investment Research Lowers Zoe’s Kitchen, Inc. (ZOES) to Sell
Zoe’s Kitchen, Inc. (NYSE:ZOES) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
According to Zacks, “Zoe’s Kitchen Inc. operates as a fast casual restaurant concept serving Mediterranean-style food. The company operates a range of restaurant formats, including in-line, end-cap, and free-standing restaurants. It also grants licenses to qualified franchisees to construct and operate Zoe’s Kitchen restaurants. Zoe’s Kitchen, Inc. is based in Plano, Texas. “
Several other analysts also recently issued reports on ZOES. Maxim Group reduced their price target on shares of Zoe’s Kitchen from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, August 14th. Robert W. Baird reduced their price target on shares of Zoe’s Kitchen from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, August 14th. Credit Suisse Group reduced their price target on shares of Zoe’s Kitchen from $13.00 to $12.50 and set an “underperform” rating on the stock in a report on Friday, August 18th. Telsey Advisory Group raised shares of Zoe’s Kitchen from a “market perform” rating to an “outperform” rating and upped their price target for the company from $15.00 to $17.00 in a report on Thursday, August 17th. They noted that the move was a valuation call. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $13.00 price target (down previously from $15.00) on shares of Zoe’s Kitchen in a report on Monday, July 10th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.55.
Shares of Zoe’s Kitchen (NYSE ZOES) opened at 12.17 on Thursday. The firm’s market cap is $237.74 million. The firm has a 50-day moving average of $12.65 and a 200-day moving average of $13.93. Zoe’s Kitchen has a 12-month low of $10.77 and a 12-month high of $27.41.
Zoe’s Kitchen (NYSE:ZOES) last announced its quarterly earnings results on Thursday, August 17th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. Zoe’s Kitchen had a negative net margin of 0.07% and a negative return on equity of 0.27%. The company had revenue of $74.30 million for the quarter, compared to the consensus estimate of $75.11 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities analysts forecast that Zoe’s Kitchen will post ($0.09) earnings per share for the current fiscal year.
In other news, Director A Alexander Taylor II acquired 3,100 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average price of $12.87 per share, with a total value of $39,897.00. Following the completion of the transaction, the director now directly owns 7,508 shares in the company, valued at approximately $96,627.96. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.00% of the company’s stock.
Several large investors have recently bought and sold shares of ZOES. Ballentine Partners LLC acquired a new position in shares of Zoe’s Kitchen in the second quarter valued at approximately $7,728,000. Bank of New York Mellon Corp raised its position in shares of Zoe’s Kitchen by 692.7% in the second quarter. Bank of New York Mellon Corp now owns 613,448 shares of the restaurant operator’s stock valued at $7,306,000 after buying an additional 536,063 shares during the last quarter. FMR LLC acquired a new position in shares of Zoe’s Kitchen in the first quarter valued at approximately $8,984,000. Bamco Inc. NY raised its position in shares of Zoe’s Kitchen by 26.5% in the second quarter. Bamco Inc. NY now owns 1,200,000 shares of the restaurant operator’s stock valued at $14,292,000 after buying an additional 251,431 shares during the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of Zoe’s Kitchen in the second quarter valued at approximately $1,930,000.
About Zoe’s Kitchen
Zoe’s Kitchen, Inc develops and operates fast-casual restaurants serving a menu of fresh, wholesome, Mediterranean-inspired dishes delivered with Southern hospitality. The Company’s menu offers meals made from scratch using produce, proteins and other ingredients, including its appetizers, soups, salads and kabobs.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Zoe's Kitchen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoe's Kitchen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.