Loop Capital Cuts FAT Brands (NASDAQ:FAT) Price Target to $12.00

FAT Brands (NASDAQ:FAT) had its target price decreased by Loop Capital from $15.00 to $12.00 in a report released on Tuesday morning,Benzinga reports. Loop Capital currently has a buy rating on the stock.

FAT Brands Stock Up 1.6 %

Shares of NASDAQ FAT opened at $3.20 on Tuesday. FAT Brands has a 52 week low of $3.05 and a 52 week high of $8.50. The firm has a 50-day moving average price of $4.54 and a 200 day moving average price of $4.96. The stock has a market capitalization of $54.74 million, a price-to-earnings ratio of -0.35 and a beta of 1.82.

FAT Brands (NASDAQ:FAT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($4.06) EPS for the quarter, missing the consensus estimate of ($2.68) by ($1.38). The company had revenue of $145.28 million for the quarter, compared to analysts’ expectations of $157.45 million. Equities research analysts expect that FAT Brands will post -10.23 EPS for the current fiscal year.

Hedge Funds Weigh In On FAT Brands

An institutional investor recently raised its position in FAT Brands stock. Northern Trust Corp raised its holdings in shares of FAT Brands Inc. (NASDAQ:FAT) by 63.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,751 shares of the company’s stock after acquiring an additional 12,287 shares during the quarter. Northern Trust Corp owned approximately 0.19% of FAT Brands worth $169,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 6.90% of the company’s stock.

FAT Brands Company Profile

FAT Brands Inc, a multi-brand restaurant franchising company, acquires, develops, markets, and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts worldwide. It owns restaurant brands, including Round Table Pizza, Marble Slab Creamery, Great American Cookies, Hot Dog on a Stick, Pretzelmaker, Fazoli's, Fatburger, Johnny Rockets, Elevation Burger, Yalla Mediterranean, Buffalo's Cafe and Buffalo's Express, Hurricane Grill & Wings, Ponderosa Steakhouse/Bonanza Steakhouse, Native Grill & Wings, Smokey Bones, and Twin Peaks.