Fiesta Restaurant Group, Inc. (FRGI) Receives Average Rating of “Hold” from Brokerages
Shares of Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) have received a consensus recommendation of “Hold” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $22.60.
Several analysts have issued reports on FRGI shares. Piper Jaffray Companies restated a “neutral” rating and set a $17.00 price objective (down previously from $22.00) on shares of Fiesta Restaurant Group in a research note on Thursday, August 10th. TheStreet cut Fiesta Restaurant Group from a “c-” rating to a “d+” rating in a research note on Thursday, September 7th. Wedbush restated a “buy” rating on shares of Fiesta Restaurant Group in a research note on Monday, September 18th. Finally, Zacks Investment Research upgraded Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th.
Shares of Fiesta Restaurant Group (FRGI) traded up $1.20 on Friday, reaching $19.85. The company had a trading volume of 350,342 shares, compared to its average volume of 404,713. The stock has a market capitalization of $513.30, a P/E ratio of 21.53, a P/E/G ratio of 1.82 and a beta of 0.76. Fiesta Restaurant Group has a 1 year low of $15.50 and a 1 year high of $30.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.53 and a quick ratio of 0.49.
Fiesta Restaurant Group (NASDAQ:FRGI) last issued its quarterly earnings results on Monday, November 6th. The restaurant operator reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.19). The business had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $162.05 million. Fiesta Restaurant Group had a negative net margin of 3.40% and a positive return on equity of 9.49%. The company’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 EPS. sell-side analysts anticipate that Fiesta Restaurant Group will post 0.74 earnings per share for the current year.
In related news, Director Brian P. Friedman purchased 51,710 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were acquired at an average cost of $17.36 per share, for a total transaction of $897,685.60. Following the transaction, the director now owns 36,270 shares of the company’s stock, valued at $629,647.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian P. Friedman purchased 290,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were bought at an average price of $16.06 per share, for a total transaction of $4,657,400.00. Following the completion of the transaction, the director now directly owns 2,152,565 shares in the company, valued at approximately $34,570,193.90. The disclosure for this purchase can be found here. Insiders have bought a total of 344,275 shares of company stock worth $5,601,878 over the last quarter. Insiders own 2.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of FRGI. State of Alaska Department of Revenue increased its position in Fiesta Restaurant Group by 80.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,346 shares of the restaurant operator’s stock valued at $110,000 after acquiring an additional 2,376 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Fiesta Restaurant Group by 5.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,360 shares of the restaurant operator’s stock valued at $131,000 after purchasing an additional 310 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Fiesta Restaurant Group by 61.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,225 shares of the restaurant operator’s stock valued at $211,000 after purchasing an additional 3,880 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Fiesta Restaurant Group during the 2nd quarter valued at $217,000. Finally, Voya Investment Management LLC boosted its stake in Fiesta Restaurant Group by 12.1% during the 2nd quarter. Voya Investment Management LLC now owns 13,014 shares of the restaurant operator’s stock valued at $269,000 after purchasing an additional 1,402 shares in the last quarter. Hedge funds and other institutional investors own 94.11% of the company’s stock.
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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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