Loop Capital Lowers FAT Brands (NASDAQ:FAT) Price Target to $10.00

FAT Brands (NASDAQ:FAT) had its price objective reduced by Loop Capital from $12.00 to $10.00 in a research note published on Monday,Benzinga reports. Loop Capital currently has a buy rating on the stock.

FAT Brands Price Performance

NASDAQ FAT opened at $2.61 on Monday. The business has a fifty day moving average price of $2.75 and a two-hundred day moving average price of $4.17. The stock has a market capitalization of $46.44 million, a PE ratio of -0.28 and a beta of 1.42. FAT Brands has a fifty-two week low of $2.22 and a fifty-two week high of $6.17.

FAT Brands (NASDAQ:FAT) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($2.73) earnings per share for the quarter, missing the consensus estimate of ($2.40) by ($0.33). The company had revenue of $142.02 million during the quarter, compared to analyst estimates of $148.55 million. As a group, sell-side analysts expect that FAT Brands will post -10.23 earnings per share for the current year.

Institutional Investors Weigh In On FAT Brands

An institutional investor recently raised its position in FAT Brands stock. Northern Trust Corp boosted its stake in FAT Brands Inc. (NASDAQ:FAT) by 63.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,751 shares of the company’s stock after purchasing an additional 12,287 shares during the period. Northern Trust Corp owned about 0.19% of FAT Brands worth $169,000 at the end of the most recent quarter. 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.