Del Frisco’s Restaurant Group (NASDAQ:DFRG) Price Target Cut to $8.00 by Analysts at JPMorgan Chase & Co.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) had its target price reduced by JPMorgan Chase & Co. from $8.50 to $8.00 in a report released on Friday, June 28th, BenzingaRatingsTable reports. They currently have a neutral rating on the restaurant operator’s stock.

Several other research analysts have also recently weighed in on the company. BidaskClub cut Amyris from a hold rating to a sell rating in a research report on Thursday, June 27th. ValuEngine lowered Verso from a hold rating to a sell rating in a research note on Thursday, May 23rd. Finally, Zacks Investment Research lowered Great Portland Estates from a hold rating to a sell rating in a research note on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $8.75.

DFRG traded up $0.02 during trading on Friday, hitting $7.97. The company’s stock had a trading volume of 386,510 shares, compared to its average volume of 2,799,283. The company has a market capitalization of $265.66 million, a PE ratio of -44.28 and a beta of 0.79. Del Frisco’s Restaurant Group has a 12 month low of $4.61 and a 12 month high of $12.10. The company has a quick ratio of 0.21, a current ratio of 0.43 and a debt-to-equity ratio of 2.58. The company’s 50 day moving average price is $7.28.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last released its earnings results on Tuesday, May 7th. The restaurant operator reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. Del Frisco’s Restaurant Group had a negative return on equity of 1.15% and a negative net margin of 21.62%. The company had revenue of $120.38 million during the quarter, compared to the consensus estimate of $121.65 million. As a group, analysts predict that Del Frisco’s Restaurant Group will post -0.21 earnings per share for the current year.

In other news, major shareholder Armistice Capital, Llc bought 110,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were bought at an average price of $6.18 per share, for a total transaction of $679,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Armistice Capital Master Fund bought 65,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were purchased at an average price of $4.90 per share, for a total transaction of $318,500.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 655,000 shares of company stock worth $3,931,850. 2.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in shares of Del Frisco’s Restaurant Group by 398.3% during the first quarter. BNP Paribas Arbitrage SA now owns 6,917 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 5,529 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Del Frisco’s Restaurant Group by 257.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,212 shares of the restaurant operator’s stock worth $66,000 after purchasing an additional 6,632 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Del Frisco’s Restaurant Group during the fourth quarter worth approximately $82,000. Menta Capital LLC bought a new position in shares of Del Frisco’s Restaurant Group during the fourth quarter worth approximately $98,000. Finally, Citigroup Inc. increased its stake in shares of Del Frisco’s Restaurant Group by 101.7% during the fourth quarter. Citigroup Inc. now owns 17,989 shares of the restaurant operator’s stock worth $129,000 after purchasing an additional 9,072 shares during the period.

Del Frisco’s Restaurant Group Company Profile

Del Frisco's Restaurant Group, Inc develops, owns, and operates restaurants in the United States. It owns and operates restaurants under the Del Frisco's Double Eagle Steak House, Del Frisco's Grille, Barcelona Wine Bar, and bartaco brand names. The company offers steaks, as well as other menu selections, such as chops, fresh seafood, tapas, street food, and wines and cocktails.

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