Good Times Restaurants (GTIM) Rating Increased to Buy at Zacks Investment Research
Good Times Restaurants (NASDAQ:GTIM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $2.75 target price on the restaurant operator’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.00% from the company’s previous close.
According to Zacks, “Good Times Restaurants Inc. is a holding company. Through its wholly-owned subsidiary, they are engaged in the business of developing, owning, operating and franchising restaurants under the name Good Times Drive Thru Burgers. Good Times DriveThru Burgers restaurants are owned, operated and franchised by their subsidiary, Good Times Drive Thru Inc. Good Times Drive Thru Burgers restaurants feature a limited menu for drive-through and walk-up customers. “
Separately, Maxim Group reiterated a “buy” rating and issued a $6.00 target price on shares of Good Times Restaurants in a research note on Tuesday, October 3rd.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GTIM. Cooper Creek Partners Management LLC lifted its stake in shares of Good Times Restaurants by 10.4% during the 4th quarter. Cooper Creek Partners Management LLC now owns 282,387 shares of the restaurant operator’s stock valued at $1,355,000 after buying an additional 26,598 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Good Times Restaurants by 8.1% during the 1st quarter. Geode Capital Management LLC now owns 56,983 shares of the restaurant operator’s stock valued at $226,000 after buying an additional 4,255 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Good Times Restaurants by 43.3% during the 1st quarter. Wellington Management Group LLP now owns 748,300 shares of the restaurant operator’s stock valued at $2,978,000 after buying an additional 226,100 shares in the last quarter. Finally, Granite Point Capital Management L.P. purchased a new stake in shares of Good Times Restaurants during the 2nd quarter valued at approximately $1,109,000. Hedge funds and other institutional investors own 32.40% of the company’s stock.
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Good Times Restaurants Company Profile
Good Times Restaurants Inc operates and franchises Good Times Burgers & Frozen Custard (Good Times) restaurants and Bad Daddy’s Burger Bar concept (Bad Daddy’s). The Company operates through two segments: Good Times Burgers and Frozen Custard restaurants, and Bad Daddy’s Burger Bar restaurants. Good Times is a quick service restaurant concept.
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