Maxim Group Thinks Famous Dave’s Of America’s Stock is Going to Recover

By Carrie Williams

In a report released yesterday, Stephen Anderson from Maxim Group maintained a Buy rating on Famous Dave’s Of America (DAVEResearch Report), with a price target of $8. The company’s shares closed yesterday at $3.96, close to its 52-week low of $3.60.

Anderson wrote:

“We maintain our Buy rating and $8 price target on Famous Dave’s (DAVE) following the release of 1Q19 (March) results.”

According to TipRanks.com, Anderson is a 5-star analyst with an average return of 9.9% and a 69.0% success rate. Anderson covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Good Times Restaurants Inc, and Dine Brands Global Inc.

Currently, the analyst consensus on Famous Dave’s Of America is a Moderate Buy with an average price target of $8.

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Based on Famous Dave’s Of America’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $82K. In comparison, last year the company had a net profit of $998K.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DAVE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Famous Dave’s of America, Inc. engages in the ownership and operation of franchise restaurants. It offers authentic hickory-smoked and off the-grill barbecue favorites, chopped pork, country-roasted chicken, and signature sandwiches and salads. The company was founded by David W. Anderson on March 14, 1994 and is headquartered in Minnetonka, MN.