Zoe’s Kitchen, Inc. (ZOES) Stock Rating Reaffirmed by Maxim Group
Zoe’s Kitchen, Inc. (NYSE:ZOES)‘s stock had its “buy” rating restated by research analysts at Maxim Group in a research note issued on Thursday. They currently have a $20.00 price target on the restaurant operator’s stock. Maxim Group’s price target points to a potential upside of 62.87% from the company’s current price.
The analysts wrote, “We reiterate our Buy rating and $20 price target on Zoe’s Kitchen (ZOES) ahead of the release of 3Q17 (September) results on Thursday, November 9. We lower our 3Q17 EPS estimate to $0.01, from $0.02, as we reduce our quarterly comp forecast to +0.8% (from +1.5%) to account for closures related to Hurricanes Harvey and Irma. We maintain our 2018 EPS estimate of $0.12 on a mix of positive comps and improved margins.””
Several other research firms have also commented on ZOES. Credit Suisse Group cut 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. Zacks Investment Research upgraded shares of Zoe’s Kitchen from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Robert W. Baird restated a “hold” rating and issued a $15.00 price target on shares of Zoe’s Kitchen in a report on Tuesday, September 19th. Telsey Advisory Group upgraded shares of Zoe’s Kitchen from a “market perform” rating to an “outperform” rating and raised 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 restated 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 equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $17.55.
Zoe’s Kitchen (NYSE:ZOES) last released its earnings results on Thursday, August 17th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $74.30 million for the quarter, compared to analysts’ expectations of $75.11 million. During the same period last year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis.
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In other Zoe’s Kitchen news, Director A Alexander Taylor II purchased 3,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased at an average price of $12.87 per share, for a total transaction of $39,897.00. Following the completion of the acquisition, the director now owns 7,508 shares of the company’s stock, valued at approximately $96,627.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP purchased a new stake in shares of Zoe’s Kitchen during the first quarter valued at approximately $1,310,000. Schwab Charles Investment Management Inc. raised its stake in shares of Zoe’s Kitchen by 5.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 65,991 shares of the restaurant operator’s stock valued at $1,221,000 after purchasing an additional 3,591 shares during the period. American International Group Inc. raised its stake in shares of Zoe’s Kitchen by 7.1% during the first quarter. American International Group Inc. now owns 11,765 shares of the restaurant operator’s stock valued at $218,000 after purchasing an additional 781 shares during the period. FMR LLC purchased a new stake in shares of Zoe’s Kitchen during the first quarter valued at approximately $8,984,000. Finally, Engineers Gate Manager LP raised its stake in shares of Zoe’s Kitchen by 19.5% during the second quarter. Engineers Gate Manager LP now owns 64,825 shares of the restaurant operator’s stock valued at $772,000 after purchasing an additional 10,595 shares during the period.
Zoe’s Kitchen Company Profile
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.
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