Zoe’s Kitchen’s (NYSE:ZOES) Buy Rating Reiterated at Maxim Group

Zoe’s Kitchen, Inc. (NYSE:ZOES)‘s stock had its “buy” rating reaffirmed by analysts at Maxim Group in a research report issued on Thursday, November 2nd. They presently have a $20.00 target price on the restaurant operator’s stock. Maxim Group’s price target indicates a potential upside of 55.76% from the stock’s current price.

The analysts wrote, “We reiterate our Buy rating and $20 price target on Zoe’s Kitchen (ZOES) ahead of the release of 3Q17 (September) results on Thursday, November 9. We lower our 3Q17 EPS estimate to $0.01, from $0.02, as we reduce our quarterly comp forecast to +0.8% (from +1.5%) to account for closures related to Hurricanes Harvey and Irma. We maintain our 2018 EPS estimate of $0.12 on a mix of positive comps and improved margins.””

ZOES has been the topic of several other research reports. Zacks Investment Research raised Zoe’s Kitchen from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Robert W. Baird cut their target price on Zoe’s Kitchen from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, August 14th. Telsey Advisory Group raised Zoe’s Kitchen from a “market perform” rating to an “outperform” rating and increased their target price for the company from $15.00 to $17.00 in a research note on Thursday, August 17th. They noted that the move was a valuation call. Credit Suisse Group cut their target price on Zoe’s Kitchen from $13.00 to $12.50 and set an “underperform” rating on the stock in a research note on Friday, August 18th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $13.00 price target (down previously from $15.00) on shares of Zoe’s Kitchen in a research report on Monday, July 10th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.15.

Zoe’s Kitchen (ZOES) opened at $12.84 on Thursday. Zoe’s Kitchen has a 1-year low of $10.77 and a 1-year high of $27.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.63 and a quick ratio of 0.54.

Zoe’s Kitchen (NYSE:ZOES) last posted its quarterly earnings results on Thursday, November 9th. The restaurant operator reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $77.85 million for the quarter, compared to analysts’ expectations of $78.67 million. Zoe’s Kitchen had a negative return on equity of 0.67% and a net margin of 0.12%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 earnings per share. analysts anticipate that Zoe’s Kitchen will post -0.09 EPS for the current year.

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In related news, Director A Alexander Taylor II purchased 3,100 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average cost of $12.87 per share, for a total transaction of $39,897.00. Following the completion of the purchase, the director now directly owns 7,508 shares in the company, valued at $96,627.96. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bamco Inc. NY boosted its stake in shares of Zoe’s Kitchen by 26.5% during the 2nd quarter. Bamco Inc. NY now owns 1,200,000 shares of the restaurant operator’s stock worth $14,292,000 after acquiring an additional 251,431 shares during the period. Peregrine Capital Management LLC boosted its stake in shares of Zoe’s Kitchen by 1.6% during the 3rd quarter. Peregrine Capital Management LLC now owns 830,859 shares of the restaurant operator’s stock worth $10,494,000 after acquiring an additional 13,286 shares during the period. Vanguard Group Inc. boosted its stake in shares of Zoe’s Kitchen by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 790,783 shares of the restaurant operator’s stock worth $14,629,000 after acquiring an additional 51,682 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Zoe’s Kitchen by 0.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 734,530 shares of the restaurant operator’s stock worth $8,748,000 after acquiring an additional 2,493 shares during the period. Finally, Ballentine Partners LLC bought a new position in shares of Zoe’s Kitchen during the 2nd quarter worth approximately $7,728,000.

About Zoe’s Kitchen

Zoe’s Kitchen, Inc develops and operates fast-casual restaurants serving a menu of fresh, wholesome, Mediterranean-inspired dishes delivered with Southern hospitality. The Company’s menu offers meals made from scratch using produce, proteins and other ingredients, including its appetizers, soups, salads and kabobs.

Analyst Recommendations for Zoe`s Kitchen (NYSE:ZOES)

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