Zoe’s Kitchen (ZOES) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Zoe’s Kitchen (NYSE:ZOES) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Zoe’s Kitchen Inc. operates as a fast casual restaurant concept serving Mediterranean-style food. The company operates a range of restaurant formats, including in-line, end-cap, and free-standing restaurants. It also grants licenses to qualified franchisees to construct and operate Zoe’s Kitchen restaurants. Zoe’s Kitchen, Inc. is based in Plano, Texas. “

Several other research analysts also recently weighed in on ZOES. Telsey Advisory Group downgraded Zoe’s Kitchen from an outperform rating to a market perform rating and upped their target price for the stock from $12.00 to $13.00 in a research note on Friday, August 17th. ValuEngine raised Zoe’s Kitchen from a hold rating to a buy rating in a research note on Tuesday, October 2nd. Maxim Group reduced their price objective on Zoe’s Kitchen from $12.00 to $10.00 and set a hold rating for the company in a research note on Monday, August 13th. William Blair downgraded Zoe’s Kitchen from an outperform rating to a market perform rating in a research note on Tuesday, August 21st. Finally, Jefferies Financial Group downgraded Zoe’s Kitchen from a buy rating to a hold rating in a research note on Friday, August 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $12.46.



Shares of ZOES stock opened at $12.71 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.47 and a debt-to-equity ratio of 0.17. Zoe’s Kitchen has a 1-year low of $8.22 and a 1-year high of $17.65.

Zoe’s Kitchen (NYSE:ZOES) last announced its earnings results on Friday, August 17th. The restaurant operator reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.07). The business had revenue of $81.56 million for the quarter, compared to analyst estimates of $82.77 million. Zoe’s Kitchen had a negative return on equity of 5.77% and a negative net margin of 7.50%. As a group, research analysts forecast that Zoe’s Kitchen will post -0.49 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its stake in Zoe’s Kitchen by 192.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 18,562 shares of the restaurant operator’s stock valued at $181,000 after purchasing an additional 12,219 shares during the last quarter. Jane Street Group LLC acquired a new position in Zoe’s Kitchen in the 2nd quarter valued at $191,000. Wrapmanager Inc. acquired a new position in Zoe’s Kitchen in the 2nd quarter valued at $195,000. OLD National Bancorp IN acquired a new position in Zoe’s Kitchen in the 2nd quarter valued at $207,000. Finally, Trexquant Investment LP raised its stake in Zoe’s Kitchen by 36.0% in the 2nd quarter. Trexquant Investment LP now owns 22,957 shares of the restaurant operator’s stock valued at $224,000 after purchasing an additional 6,077 shares during the last quarter. 83.12% of the stock is owned by hedge funds and other institutional investors.

About Zoe’s Kitchen

Zoe's Kitchen, Inc, through its subsidiaries, develops and operates a chain of fast-casual restaurants. It operates a range of restaurant formats, including in-line, end-cap, and free-standing restaurants. As of February 22, 2018, the company operated owned and franchised 249 restaurants in 20 states of the United States.

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