FAT Brands (NASDAQ:FAT) Upgraded at Zacks Research

Zacks Research upgraded shares of FAT Brands (NASDAQ:FAT) from a strong sell rating to a hold rating in a report published on Monday,Zacks.com reports.

FAT Brands Trading Down 2.6%

NASDAQ FAT opened at $1.90 on Monday. The stock has a market capitalization of $33.99 million, a price-to-earnings ratio of -0.15 and a beta of 1.21. FAT Brands has a twelve month low of $1.75 and a twelve month high of $6.17. The stock has a 50-day moving average of $2.00 and a 200 day moving average of $2.37.

FAT Brands (NASDAQ:FAT) last released its quarterly earnings results on Thursday, July 31st. The company reported ($3.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.56) by ($0.61). The company had revenue of $146.84 million during the quarter, compared to the consensus estimate of $146.60 million. Equities analysts predict 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 shares of FAT Brands Inc. (NASDAQ:FAT) by 63.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,751 shares of the company’s stock after acquiring an additional 12,287 shares during the quarter. Northern Trust Corp owned approximately 0.19% of FAT Brands worth $169,000 as of its most recent SEC filing. 6.90% of the stock is currently owned by institutional investors and hedge funds.

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.