Noble Financial analyst Joe Gomes maintained a Buy rating on Fat Brands (FAT – Research Report) today and set a price target of $25.00. The company’s shares closed yesterday at $6.95.
According to TipRanks, Gomes is a 4-star analyst with an average return of 5.3% and a 43.08% success rate. Gomes covers the Services sector, focusing on stocks such as Fat Brands, RCI Hospitality Holdings, and DLH Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fat Brands with a $25.00 average price target.
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Based on Fat Brands’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $103.22 million and a GAAP net loss of $23.44 million. In comparison, last year the company earned a revenue of $29.76 million and had a GAAP net loss of $3.62 million
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FAT in relation to earlier this year.
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FAT Brands, Inc. operates as a global franchising company that acquires, markets and develops fast casual and casual dining restaurant concepts around the world. Its brands include Yalla Mediterranean, Buffalo’s Cafe & Express, Ponderosa Steakhouse and Bonanza, Fatburger, Hurricane Grill & Wings, Bonanza Steak & BBQ, and Hurricane BTW. The company was founded by Andrew A. Wiederhorn on March 21, 2017 and is headquartered in Beverly Hills, CA.
Read More on FAT:
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- Fazoli’s to Make Debut in Puerto Rico with New Area Development Deal
- Fat Brands announces development deal for Fazoli’s in Puerto Rico
- FAT Brands Inc. Announces First Quarter Cash Dividend on Class A Common Stock and Class B Common Stock
- FAT Brands Inc. Announces Participation in the 2023 ICR Conference
