In a report issued on March 26, Joe Gomes from Noble Financial maintained a Buy rating on Fat Brands (FAT), with a price target of $10.00. The company’s shares closed last Thursday at $7.87.
According to TipRanks.com, Gomes is a 5-star analyst with an average return of 31.4% and a 63.0% success rate. Gomes covers the Services sector, focusing on stocks such as Information Services Group, Kelly Services, and DLH Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fat Brands with a $10.00 average price target.
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Based on Fat Brands’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.5 million and GAAP net loss of $7.67 million. In comparison, last year the company earned revenue of $5.25 million and had a GAAP net loss of $954K.
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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.