Loop Capital Issues Pessimistic Forecast for FAT Brands (NASDAQ:FAT) Stock Price

FAT Brands (NASDAQ:FAT) had its target price decreased by investment analysts at Loop Capital from $15.00 to $12.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price target points to a potential upside of 272.67% from the stock’s previous close.

FAT Brands Price Performance

NASDAQ FAT traded down $0.13 during trading on Tuesday, hitting $3.22. 49,526 shares of the company’s stock traded hands, compared to its average volume of 67,521. The stock has a fifty day moving average of $4.63 and a two-hundred day moving average of $4.98. FAT Brands has a 12-month low of $3.05 and a 12-month high of $8.72. The firm has a market cap of $55.08 million, a P/E ratio of -0.35 and a beta of 1.82.

FAT Brands (NASDAQ:FAT) last issued its earnings results on Thursday, February 27th. The company reported ($4.06) earnings per share for the quarter, missing the consensus estimate of ($2.68) by ($1.38). The company had revenue of $145.28 million during the quarter, compared to the consensus estimate of $157.45 million. As a group, analysts expect that FAT Brands will post -10.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FAT Brands

A hedge fund recently raised its stake in FAT Brands stock. Northern Trust Corp lifted its stake in shares of FAT Brands Inc. (NASDAQ:FAT) by 63.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,751 shares of the company’s stock after buying an additional 12,287 shares during the quarter. Northern Trust Corp owned about 0.19% of FAT Brands worth $169,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 6.90% of the stock is owned by institutional investors and hedge funds.

About FAT Brands

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.