Zacks Investment Research lowered shares of Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) from a hold rating to a strong sell rating in a research note published on Thursday morning.

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. “

A number of other research analysts have also weighed in on the stock. BidaskClub lowered shares of Fiesta Restaurant Group from a hold rating to a sell rating in a research note on Saturday, July 8th. Wedbush reaffirmed a buy rating and issued a $28.00 price target on shares of Fiesta Restaurant Group in a research note on Tuesday, May 9th. Canaccord Genuity reiterated a hold rating and issued a $25.00 price objective on shares of Fiesta Restaurant Group in a report on Tuesday, May 9th. Jefferies Group LLC reiterated a hold rating and issued a $25.00 price objective on shares of Fiesta Restaurant Group in a report on Friday, May 5th. Finally, Stephens downgraded shares of Fiesta Restaurant Group from an overweight rating to an equal weight rating and set a $25.00 price objective on the stock. in a report on Tuesday, May 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Fiesta Restaurant Group has an average rating of Hold and a consensus price target of $26.17.

Fiesta Restaurant Group (NASDAQ FRGI) traded down 2.89% on Thursday, reaching $16.80. 556,910 shares of the company’s stock traded hands. Fiesta Restaurant Group has a 52-week low of $16.70 and a 52-week high of $30.65. The stock’s 50 day moving average is $19.69 and its 200 day moving average is $23.08. The firm’s market cap is $450.02 million.

Fiesta Restaurant Group (NASDAQ:FRGI) last announced its quarterly earnings results on Monday, May 8th. The restaurant operator reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.05. Fiesta Restaurant Group had a negative net margin of 1.16% and a positive return on equity of 12.01%. The company had revenue of $175.60 million during the quarter, compared to the consensus estimate of $177.63 million. During the same period in the previous year, the firm posted $0.37 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that Fiesta Restaurant Group will post $1.08 EPS for the current fiscal year.

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In related news, Director Brian P. Friedman acquired 28,093 shares of Fiesta Restaurant Group stock in a transaction on Wednesday, May 17th. The stock was purchased at an average cost of $21.65 per share, with a total value of $608,213.45. Following the completion of the transaction, the director now directly owns 32,681 shares in the company, valued at approximately $707,543.65. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Brian P. Friedman acquired 309,115 shares of Fiesta Restaurant Group stock in a transaction on Friday, June 9th. The shares were bought at an average cost of $21.12 per share, with a total value of $6,528,508.80. Following the completion of the transaction, the director now owns 36,270 shares of the company’s stock, valued at $766,022.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 351,595 shares of company stock worth $7,451,569. 2.20% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its position in Fiesta Restaurant Group by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the restaurant operator’s stock worth $266,000 after buying an additional 200 shares during the period. Arizona State Retirement System boosted its position in Fiesta Restaurant Group by 1.4% in the first quarter. Arizona State Retirement System now owns 14,000 shares of the restaurant operator’s stock worth $339,000 after buying an additional 200 shares during the period. Texas Permanent School Fund boosted its position in Fiesta Restaurant Group by 1.4% in the second quarter. Texas Permanent School Fund now owns 19,760 shares of the restaurant operator’s stock worth $408,000 after buying an additional 268 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in Fiesta Restaurant Group by 5.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,360 shares of the restaurant operator’s stock worth $131,000 after buying an additional 310 shares during the period. Finally, Mason Street Advisors LLC boosted its position in Fiesta Restaurant Group by 7.7% in the first quarter. Mason Street Advisors LLC now owns 6,295 shares of the restaurant operator’s stock worth $152,000 after buying an additional 450 shares during the period. 93.51% of the stock is owned by hedge funds and other institutional investors.

Fiesta Restaurant Group Company Profile

Fiesta Restaurant Group, Inc owns, operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana through its subsidiaries Pollo Operations, Inc, and its subsidiaries, and Pollo Franchise, Inc, (collectively Pollo Tropical) and Taco Cabana, Inc and its subsidiaries (collectively Taco Cabana).

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Analyst Recommendations for Fiesta Restaurant Group (NASDAQ:FRGI)

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