Fiesta Restaurant Group, Inc. (FRGI) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) from a sell rating to a hold rating in a research report released on Thursday.

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 also recently weighed in on FRGI. Wedbush reaffirmed a buy rating and issued a $19.00 price objective on shares of Fiesta Restaurant Group in a research note on Tuesday, November 7th. Piper Jaffray Companies reaffirmed a neutral rating and issued a $17.00 price objective (down from $22.00) on shares of Fiesta Restaurant Group in a research note on Thursday, August 10th. BidaskClub downgraded Fiesta Restaurant Group from a sell rating to a strong sell rating in a research note on Sunday, July 16th. Raymond James Financial, Inc. reaffirmed a market perform rating on shares of Fiesta Restaurant Group in a research note on Monday, July 24th. Finally, TheStreet cut Fiesta Restaurant Group from a c- rating to a d+ rating in a report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Fiesta Restaurant Group currently has an average rating of Hold and an average target price of $21.60.

Fiesta Restaurant Group (NASDAQ FRGI) traded up $0.30 during midday trading on Thursday, reaching $16.75. The company had a trading volume of 298,200 shares, compared to its average volume of 416,088. Fiesta Restaurant Group has a 12-month low of $15.50 and a 12-month high of $30.65. The stock has a market cap of $456.32, a P/E ratio of 19.03, a P/E/G ratio of 1.52 and a beta of 0.69. The company has a quick ratio of 0.49, a current ratio of 0.53 and a debt-to-equity ratio of 0.26.

Fiesta Restaurant Group (NASDAQ:FRGI) last released its quarterly earnings data on Monday, November 6th. The restaurant operator reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.19). Fiesta Restaurant Group had a negative net margin of 3.40% and a positive return on equity of 9.49%. The firm had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $162.05 million. During the same period in the previous year, the business earned $0.30 earnings per share. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. equities research analysts anticipate that Fiesta Restaurant Group will post 0.79 earnings per share for the current year.

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In other news, Director Brian P. Friedman bought 290,000 shares of Fiesta Restaurant Group stock in a transaction that occurred on Monday, September 11th. The shares were purchased at an average price of $16.06 per share, for a total transaction of $4,657,400.00. Following the completion of the acquisition, the director now owns 2,152,565 shares of the company’s stock, valued at $34,570,193.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian P. Friedman bought 140,000 shares of Fiesta Restaurant Group stock in a transaction that occurred on Wednesday, August 16th. The stock was purchased at an average price of $18.41 per share, for a total transaction of $2,577,400.00. Following the acquisition, the director now directly owns 36,270 shares of the company’s stock, valued at approximately $667,730.70. The disclosure for this purchase can be found here. Insiders have bought 1,010,375 shares of company stock worth $17,422,013 in the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. boosted its holdings in Fiesta Restaurant Group by 110.2% in the second quarter. Prudential Financial Inc. now owns 316,032 shares of the restaurant operator’s stock valued at $6,526,000 after acquiring an additional 165,670 shares during the last quarter. Legal & General Group Plc boosted its holdings in Fiesta Restaurant Group by 1.7% in the first quarter. Legal & General Group Plc now owns 46,910 shares of the restaurant operator’s stock valued at $1,134,000 after acquiring an additional 762 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in Fiesta Restaurant Group by 6.8% in the first quarter. Thrivent Financial For Lutherans now owns 15,300 shares of the restaurant operator’s stock valued at $370,000 after acquiring an additional 980 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Fiesta Restaurant Group by 4.3% in the first quarter. Principal Financial Group Inc. now owns 204,620 shares of the restaurant operator’s stock valued at $4,952,000 after acquiring an additional 8,477 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Fiesta Restaurant Group by 32.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,449,051 shares of the restaurant operator’s stock valued at $29,923,000 after acquiring an additional 354,351 shares during the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.

About Fiesta Restaurant Group

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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