FAT Brands (NASDAQ:FAT) Stock Rating Upgraded by Zacks Research

FAT Brands (NASDAQ:FAT) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

FAT Brands Stock Up 1.6%

NASDAQ:FAT opened at $1.95 on Monday. The firm has a market cap of $34.88 million, a PE ratio of -0.15 and a beta of 1.14. FAT Brands has a 12 month low of $1.75 and a 12 month high of $6.17. The company’s 50-day moving average price is $2.01 and its two-hundred day moving average price is $2.37.

FAT Brands (NASDAQ:FAT) last released its quarterly earnings results on Thursday, July 31st. The company reported ($3.17) EPS for the quarter, missing analysts’ consensus estimates of ($2.56) by ($0.61). The business had revenue of $146.84 million for the quarter, compared to analysts’ expectations of $146.60 million. On average, 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 position in FAT Brands Inc. (NASDAQ:FAT) by 63.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,751 shares of the company’s stock after buying an additional 12,287 shares during the period. Northern Trust Corp owned 0.19% of FAT Brands worth $169,000 as of its most recent SEC filing. 6.90% of the stock is owned by hedge funds and other institutional investors.

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.