ONE Group Hospitality (NASDAQ:STKS) Given New $5.00 Price Target at Piper Sandler

Key Points

• Piper Sandler has reduced the price target for ONE Group Hospitality (NASDAQ: STKS) from $6.00 to $5.00, maintaining a "neutral" rating on the stock.
• Despite the downgrade, the new price target implies a potential upside of 83.82% from the stock's previous close, which was $2.72.
• For the latest quarter, ONE Group Hospitality reported earnings of $0.14 per share, exceeding estimates by $0.32, along with revenue of $211.13 million, surpassing analyst projections.

ONE Group Hospitality (NASDAQ:STKS - Get Free Report) had its price target reduced by equities research analysts at Piper Sandler from $6.00 to $5.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the restaurant operator's stock. Piper Sandler's price target would indicate a potential upside of 73.31% from the company's current price.

STKS has been the subject of several other reports. Wall Street Zen raised ONE Group Hospitality from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Northcoast Research began coverage on ONE Group Hospitality in a research note on Friday, April 11th. They issued a "buy" rating and a $5.00 price objective for the company. Finally, Noble Financial upgraded shares of ONE Group Hospitality to a "strong-buy" rating in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ONE Group Hospitality currently has a consensus rating of "Moderate Buy" and an average price target of $4.63.

ONE Group Hospitality Trading Up 8.1%

STKS stock traded up $0.22 during midday trading on Wednesday, hitting $2.89. 55,428 shares of the company's stock were exchanged, compared to its average volume of 116,206. The business has a 50-day simple moving average of $3.78 and a two-hundred day simple moving average of $3.41. The company has a current ratio of 0.35, a quick ratio of 0.42 and a debt-to-equity ratio of 16.52. The stock has a market capitalization of $89.15 million, a PE ratio of -1.92, a P/E/G ratio of 0.33 and a beta of 2.11. ONE Group Hospitality has a 1-year low of $2.37 and a 1-year high of $5.26.

ONE Group Hospitality (NASDAQ:STKS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The restaurant operator reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.03). ONE Group Hospitality had a negative net margin of 1.91% and a positive return on equity of 69.82%. The business had revenue of $203.91 million during the quarter, compared to analyst estimates of $207.95 million. On average, sell-side analysts predict that ONE Group Hospitality will post -0.18 EPS for the current fiscal year.

Insider Activity at ONE Group Hospitality

In other ONE Group Hospitality news, insider David Kanen sold 160,000 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $4.70, for a total value of $752,000.00. Following the transaction, the insider directly owned 1,823,266 shares of the company's stock, valued at approximately $8,569,350.20. The trade was a 8.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 350,091 shares of company stock worth $1,669,918 in the last three months. 25.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ONE Group Hospitality

A number of hedge funds have recently added to or reduced their stakes in STKS. JPMorgan Chase & Co. raised its stake in shares of ONE Group Hospitality by 430.8% during the 4th quarter. JPMorgan Chase & Co. now owns 83,411 shares of the restaurant operator's stock worth $242,000 after buying an additional 67,698 shares in the last quarter. Geode Capital Management LLC grew its holdings in ONE Group Hospitality by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 506,337 shares of the restaurant operator's stock worth $1,469,000 after acquiring an additional 8,162 shares during the period. Wells Fargo & Company MN raised its position in ONE Group Hospitality by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 9,732 shares of the restaurant operator's stock worth $28,000 after acquiring an additional 3,316 shares in the last quarter. Barclays PLC lifted its holdings in ONE Group Hospitality by 6.7% in the fourth quarter. Barclays PLC now owns 49,634 shares of the restaurant operator's stock valued at $143,000 after acquiring an additional 3,126 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of ONE Group Hospitality during the 4th quarter worth $35,000. Institutional investors and hedge funds own 29.14% of the company's stock.

About ONE Group Hospitality

The ONE Group Hospitality, Inc, a restaurant company, develops, owns, operates, manages, and licenses restaurants and lounges worldwide. It operates through STK, Kona Grill, and ONE Hospitality segments. The company also provides turn-key food and beverage services for hospitality venues, including hotels, casinos, and other locations.