Fiesta Restaurant Group (FRGI) Upgraded to Hold at Zacks Investment Research

Fiesta Restaurant Group (NASDAQ:FRGI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Fiesta Restaurant Group, Inc. owns and operates quick-casual restaurants under the Pollo Tropical(R) and Taco Cabana(R) brand names in the United States. The Company’s Pollo Tropical restaurants offer a wide selection of tropical and Caribbean inspired food. The Taco Cabana restaurants offer a wide selection of fresh Tex-Mex and traditional Mexican food. Fiesta Restaurant Group, Inc. is headquartered in Miami, Florida. “

Other analysts also recently issued reports about the company. TheStreet downgraded Fiesta Restaurant Group from a “c-” rating to a “d” rating in a research note on Monday, February 25th. BidaskClub downgraded Fiesta Restaurant Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 7th. ValuEngine downgraded Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Finally, Stephens reduced their price target on Fiesta Restaurant Group from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $22.67.

Shares of NASDAQ FRGI traded up $0.31 during midday trading on Thursday, hitting $14.00. 362,600 shares of the company’s stock were exchanged, compared to its average volume of 235,683. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.38. Fiesta Restaurant Group has a 12 month low of $12.27 and a 12 month high of $30.88. The company has a market capitalization of $381.59 million, a P/E ratio of 23.33 and a beta of 0.21.

Fiesta Restaurant Group (NASDAQ:FRGI) last issued its earnings results on Monday, May 6th. The restaurant operator reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). Fiesta Restaurant Group had a return on equity of 6.55% and a net margin of 0.86%. The business had revenue of $165.85 million for the quarter, compared to the consensus estimate of $163.15 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. Analysts predict that Fiesta Restaurant Group will post 0.65 EPS for the current fiscal year.

In other news, major shareholder Jefferies Financial Group Inc. purchased 167,809 shares of Fiesta Restaurant Group stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average cost of $13.03 per share, for a total transaction of $2,186,551.27. Following the purchase, the insider now directly owns 3,954,430 shares of the company’s stock, valued at approximately $51,526,222.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard C. Stockinger purchased 3,290 shares of Fiesta Restaurant Group stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of $15.25 per share, with a total value of $50,172.50. Following the completion of the purchase, the chief executive officer now directly owns 88,190 shares in the company, valued at $1,344,897.50. The disclosure for this purchase can be found here. Insiders purchased a total of 1,488,108 shares of company stock valued at $20,399,212 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in Fiesta Restaurant Group in the 3rd quarter valued at $539,000. Quantamental Technologies LLC acquired a new position in Fiesta Restaurant Group in the 4th quarter valued at $67,000. New York State Teachers Retirement System raised its holdings in Fiesta Restaurant Group by 18.1% in the 4th quarter. New York State Teachers Retirement System now owns 21,577 shares of the restaurant operator’s stock valued at $335,000 after acquiring an additional 3,300 shares in the last quarter. Arizona State Retirement System raised its holdings in Fiesta Restaurant Group by 6.1% in the 4th quarter. Arizona State Retirement System now owns 36,099 shares of the restaurant operator’s stock valued at $560,000 after acquiring an additional 2,083 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Fiesta Restaurant Group by 20.3% in the 4th quarter. Rhumbline Advisers now owns 68,580 shares of the restaurant operator’s stock valued at $1,064,000 after acquiring an additional 11,589 shares in the last quarter. Institutional investors and hedge funds own 93.20% of the company’s stock.

Fiesta Restaurant Group Company Profile

Fiesta Restaurant Group, Inc, through its subsidiaries, owns, operates, and franchises fast-casual restaurants. It operates its fast-casual restaurants under the Pollo Tropical and Taco Cabana brands. The company's Pollo Tropical restaurants offer fire-grilled and citrus marinated chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants that provide Mexican inspired food made fresh by hand.

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