Zacks Investment Research downgraded shares of Fiesta Restaurant Group (NASDAQ:FRGI) from a hold rating to a sell rating in a research note released on Tuesday.

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. “

Several other research firms have also recently issued reports on FRGI. Wedbush restated an outperform rating and set a $28.00 target price (down previously from $36.00) on shares of Fiesta Restaurant Group in a research note on Tuesday, November 6th. BidaskClub cut shares of Fiesta Restaurant Group from a buy rating to a hold rating in a research note on Friday, September 14th. ValuEngine cut shares of Fiesta Restaurant Group from a buy rating to a hold rating in a research note on Thursday, August 9th. Finally, Piper Jaffray Companies upgraded shares of Fiesta Restaurant Group from an underweight rating to a neutral rating in a research note on Friday, October 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Fiesta Restaurant Group has an average rating of Hold and an average price target of $27.00.

Shares of Fiesta Restaurant Group stock opened at $19.16 on Tuesday. The stock has a market capitalization of $508.07 million, a P/E ratio of 31.93 and a beta of 0.31. Fiesta Restaurant Group has a 1 year low of $16.40 and a 1 year high of $30.88. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29.

Fiesta Restaurant Group (NASDAQ:FRGI) last announced its quarterly earnings results on Monday, November 5th. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.08). The firm had revenue of $174.65 million during the quarter, compared to the consensus estimate of $173.40 million. Fiesta Restaurant Group had a return on equity of 5.87% and a net margin of 0.73%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 EPS. As a group, analysts expect that Fiesta Restaurant Group will post 0.6 earnings per share for the current fiscal year.

In related news, major shareholder Jefferies Financial Group Inc. bought 262,710 shares of the stock in a transaction on Thursday, November 8th. The shares were acquired at an average price of $19.33 per share, for a total transaction of $5,078,184.30. Following the purchase, the insider now owns 3,533,288 shares of the company’s stock, valued at $68,298,457.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.20% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Fiesta Restaurant Group by 3.6% during the 2nd quarter. BlackRock Inc. now owns 3,611,416 shares of the restaurant operator’s stock valued at $103,649,000 after purchasing an additional 124,428 shares during the last quarter. Wasatch Advisors Inc. increased its position in shares of Fiesta Restaurant Group by 1.7% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,487,253 shares of the restaurant operator’s stock valued at $71,384,000 after purchasing an additional 41,833 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Fiesta Restaurant Group by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,605,162 shares of the restaurant operator’s stock valued at $42,937,000 after purchasing an additional 21,143 shares during the last quarter. Thomson Horstmann & Bryant Inc. increased its position in shares of Fiesta Restaurant Group by 12.0% during the 3rd quarter. Thomson Horstmann & Bryant Inc. now owns 459,304 shares of the restaurant operator’s stock valued at $12,286,000 after purchasing an additional 49,232 shares during the last quarter. Finally, Columbus Circle Investors increased its position in shares of Fiesta Restaurant Group by 5.8% during the 3rd quarter. Columbus Circle Investors now owns 325,366 shares of the restaurant operator’s stock valued at $8,704,000 after purchasing an additional 17,874 shares during the last quarter. 96.49% of the stock is owned by hedge funds and other institutional investors.

About Fiesta Restaurant Group

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 citrus marinated, fire-grilled chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants provide Mexican inspired food made fresh by hand.

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