Chanticleer (BURG) Lifted to Hold at Zacks Investment Research

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Chanticleer (NASDAQ:BURG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Chanticleer Holdings, Inc. is engaged in owning and operating Hooters branded restaurants in international markets. Hooters restaurants are casual beach-themed establishments with sports on television, jukebox music, and Hooters Girls. The Company has rights to develop and operate Hooters restaurants in South Africa, rights to develop in Hungary and parts of Brazil, and has a joint venture with a franchisee in Australia. Chanticleer Holdings, Inc. is based in Charlotte, North Carolina. “

Separately, ValuEngine cut Chanticleer from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd.

Shares of NASDAQ:BURG traded down $0.13 on Wednesday, reaching $2.12. The company had a trading volume of 14,100 shares, compared to its average volume of 132,530. Chanticleer has a 52-week low of $1.81 and a 52-week high of $5.14. The company has a market capitalization of $7.41 million, a PE ratio of -1.19 and a beta of 2.29.

Chanticleer (NASDAQ:BURG) last posted its quarterly earnings data on Monday, August 13th. The restaurant operator reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.07. The firm had revenue of $10.40 million during the quarter, compared to analysts’ expectations of $10.65 million. Chanticleer had a negative return on equity of 35.65% and a negative net margin of 15.34%. Sell-side analysts forecast that Chanticleer will post -1.6 EPS for the current fiscal year.

An institutional investor recently bought a new position in Chanticleer stock. Perkins Capital Management Inc. acquired a new position in Chanticleer Holdings (NASDAQ:BURG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 44,161 shares of the restaurant operator’s stock, valued at approximately $110,000. Perkins Capital Management Inc. owned approximately 1.19% of Chanticleer at the end of the most recent reporting period. Institutional investors and hedge funds own 3.53% of the company’s stock.

Chanticleer Company Profile

Chanticleer Holdings, Inc, together with its subsidiaries, owns, operates, and franchises fast casual dining concepts in the United States and internationally. The company owns and operates 8 locations under the American Burger Company name in North Carolina, South Carolina, and New York; 8 company-owned locations in the United States and 13 franchisee-operated locations in the United States and the Middle East under The Burger Joint name; and 12 company-owned locations under the Little Big Burger name in the Portland, Oregon and Charlotte, North Carolina, as well as in Wallingford, Seattle.

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