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Nathan’s Famous Inc. (NATH) has sizzled its way to a 52-week high, with shares reaching a peak of $102.81. The renowned fast-food chain, famous for its hot dogs, has seen a significant uptick in investor appetite, with a remarkable 51% return over the past year. With a market capitalization of $420 million and a P/E ratio of 17.3, InvestingPro analysis suggests the stock is currently trading above its Fair Value. This impressive performance underscores the company’s resilience and adaptability in a year marked by fluctuating consumer trends and economic uncertainties. The company maintains a healthy 36% gross profit margin and has sustained dividend payments for 9 consecutive years. However, InvestingPro analysis indicates the stock may be overbought at current levels - subscribers can access 8 additional key insights about NATH’s financial health and growth potential.
In other recent news, Nathan’s Famous, Inc. has announced a change in its independent accounting firm. The company disclosed that Marcum LLP, its previous auditor, resigned, and CBIZ (NYSE:CBZ) CPAs P.C. has been appointed as the new auditor. This transition followed CBIZ CPAs P.C.’s acquisition of Marcum’s attest business. Nathan’s Famous confirmed that Marcum’s reports on the company’s financial statements for the fiscal years ending March 31, 2024, and March 26, 2023, did not contain any adverse opinions or disclaimers. There were also no disagreements on accounting principles, financial statement disclosures, or auditing procedures that required mention in Marcum’s reports. Additionally, the company stated there were no reportable events as defined by SEC regulations during the fiscal years in question. Nathan’s Famous did not consult with CBIZ CPAs P.C. on any accounting principles or transactions that would have significantly impacted its financial statements. The company provided Marcum with the contents of this announcement before filing, and Marcum agreed with the statements made by Nathan’s Famous.
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