Noble Financial Keeps Their Buy Rating on Fat Brands (FAT)


In a report released today, Joe Gomes from Noble Financial maintained a Buy rating on Fat Brands (FAT), with a price target of $8.00. The company’s shares closed last Wednesday at $5.51.

According to TipRanks.com, Gomes is a 3-star analyst with an average return of 2.1% and a 46.7% 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 $8.00 average price target.

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Based on Fat Brands’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.11 million and GAAP net loss of $4.25 million. In comparison, last year the company earned revenue of $5.9 million and had a GAAP net loss of $508K.

Based on the recent corporate insider activity of 26 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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