Famous Dave’s of America, Inc. (DAVE) Upgraded by Zacks Investment Research to “Buy”
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 report issued on Thursday. The brokerage presently has a $4.50 target price on the restaurant operator’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.50% 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) “
Separately, ValuEngine upgraded shares of Famous Dave’s of America from a “sell” rating to a “hold” rating in a research note on Friday, September 1st.
Shares of Famous Dave’s of America (NASDAQ DAVE) traded down 1.23% on Thursday, hitting $4.00. 3,744 shares of the stock were exchanged. The company’s market cap is $27.83 million. Famous Dave’s of America has a one year low of $3.38 and a one year high of $6.60. The firm’s 50-day moving average is $4.10 and its 200-day moving average is $3.91.
Famous Dave’s of America (NASDAQ:DAVE) last released its earnings results on Monday, August 14th. The restaurant operator reported $0.16 EPS for the quarter, beating the consensus estimate of $0.09 by $0.07. Famous Dave’s of America had a negative net margin of 6.19% and a positive return on equity of 0.70%. The business had revenue of $25.30 million during the quarter, compared to analyst estimates of $26.06 million. During the same period in the prior year, the business earned $0.17 earnings per share. The business’s quarterly revenue was down 8.8% on a year-over-year basis. On average, equities analysts forecast that Famous Dave’s of America will post ($0.06) EPS for the current fiscal year.
In related news, Director Charles William Mooty purchased 16,256 shares of Famous Dave’s of America stock in a transaction on Monday, August 21st. The stock was purchased at an average cost of $4.00 per share, with a total value of $65,024.00. Following the acquisition, the director now directly owns 83,256 shares in the company, valued at $333,024. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Bandera Partners Llc purchased 21,629 shares of Famous Dave’s of America stock in a transaction on Monday, August 14th. The stock was bought at an average cost of $3.45 per share, with a total value of $74,620.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 62,092 shares of company stock valued at $229,566. 27.00% of the stock is owned by insiders.
An institutional investor recently raised its position in Famous Dave’s of America stock. Bandera Partners LLC increased its position in shares of Famous Dave’s of America, Inc. (NASDAQ:DAVE) by 31.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,093,265 shares of the restaurant operator’s stock after purchasing an additional 258,893 shares during the quarter. Famous Dave’s of America makes up approximately 3.6% of Bandera Partners LLC’s holdings, making the stock its 8th biggest holding. Bandera Partners LLC owned approximately 15.71% of Famous Dave’s of America worth $3,936,000 at the end of the most recent reporting period. Institutional investors own 62.42% of the company’s stock.
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.
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