BBQ (NASDAQ:BBQ) Raised to “Strong-Buy” at Zacks Investment Research

BBQ (NASDAQ:BBQ – Get a rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released Thursday, reports. The brokerage currently has a target price of $16.00 on the stock. Zacks Investment Research’s price target would suggest a potential decline of 0.93% from the stock’s previous close.

According to Zacks, “Famous Dave’s owns, operates and franchises barbecue restaurants and blues clubs. The company currently has locations and franchises in Minnesota, Wisconsin, Illinois, Iowa, Nebraska, Utah, Maryland and Virginia and has signed development agreements for a franchise restaurant.Its menu features award-winning grilled and grilled meats, an extensive selection of salads, sides, sandwiches and unique desserts.(Press Release )”

Separately, TheStreet upgraded BBQ’s shares from a “c+” rating to a “b-” rating in a Wednesday, March 9 research note.

BBQ stock traded at $1.88 during Thursday trading hours, hitting $16.15. 115,327 shares of the company were traded, against an average volume of 28,199. The company has a market capitalization of $169.49 million, a PE ratio of 8.64, a PEG ratio of 0.91 and a beta of 1.86. The company has a quick ratio of 0.96, a current ratio of 1.04 and a leverage ratio of 0.11. The company’s 50-day simple moving average is $14.38 and its 200-day simple moving average is $14.24. BBQ has a 12-month low of $6.10 and a 12-month high of $19.75.

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BBQ (NASDAQ:BBQ – Get Rating) last released its quarterly earnings data on Monday, March 14. The company reported earnings per share (EPS) of $0.27 for the quarter, beating the Zacks consensus estimate of $0.15 by $0.12. BBQ had a net margin of 10.77% and a return on equity of 11.28%. Analysts expect BBQ to post 0.74 EPS for the current year.

Several institutional investors have recently changed their stock portfolios. Raymond James & Associates acquired a new stake in BBQ during the 4th quarter at a value of approximately $172,000. Arrowstreet Capital Limited Partnership increased its holdings of BBQ shares by 15.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 15,400 shares of the company valued at $232,000 after purchasing an additional 2,100 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in BBQ in Q3 worth approximately $287,000. Northern Trust Corp increased its position in BBQ by 26.9% in the second quarter. Northern Trust Corp now owns 26,409 shares of the company worth $501,000 after buying an additional 5,597 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in BBQ during Q2 worth approximately $651,000. Institutional investors hold 53.86% of the company’s shares.

About the barbecue (Get an assessment)

BBQ Holdings, Inc engages in the ownership and operation of restaurant franchises. It offers authentic hickory-smoked and off-the-grill barbecue dishes, ground pork, country roast chicken, and signature sandwiches and salads. The company was founded on March 29, 2019 and is headquartered in Minnetonka, MN.

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