Loop Capital Has Lowered Expectations for FAT Brands (NASDAQ:FAT) Stock Price

FAT Brands (NASDAQ:FAT - Get Free Report) had its price objective lowered by stock analysts at Loop Capital from $12.00 to $10.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Loop Capital's price objective would suggest a potential upside of 292.16% from the stock's current price.

FAT Brands Trading Down 5.2%

Shares of FAT stock traded down $0.14 during trading hours on Monday, reaching $2.55. 41,969 shares of the company's stock were exchanged, compared to its average volume of 32,848. FAT Brands has a 1 year low of $2.22 and a 1 year high of $6.17. The stock has a market cap of $45.37 million, a PE ratio of -0.28 and a beta of 1.42. The stock's fifty day moving average price is $2.73 and its two-hundred day moving average price is $4.13.

FAT Brands (NASDAQ:FAT - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($2.73) EPS for the quarter, missing analysts' consensus estimates of ($2.40) by ($0.33). The company had revenue of $142.02 million during the quarter, compared to analysts' expectations of $148.55 million. On average, equities analysts expect that FAT Brands will post -10.23 EPS 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 boosted its position in FAT Brands Inc. (NASDAQ:FAT - Free Report) by 63.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,751 shares of the company's stock after buying an additional 12,287 shares during the period. Northern Trust Corp owned approximately 0.19% of FAT Brands worth $169,000 as of its most recent filing with the Securities & Exchange Commission. 6.90% of the stock is owned by hedge funds and other institutional investors.

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.