Fiesta Restaurant Group (FRGI) Upgraded at ValuEngine

Fiesta Restaurant Group (NASDAQ:FRGI) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other analysts also recently weighed in on the stock. BidaskClub upgraded shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Wedbush reiterated a “buy” rating and issued a $24.00 price objective on shares of Fiesta Restaurant Group in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Fiesta Restaurant Group has a consensus rating of “Hold” and a consensus target price of $22.60.

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Shares of Fiesta Restaurant Group (FRGI) opened at $19.05 on Friday. The firm has a market cap of $474.02, a PE ratio of -14.11, a P/E/G ratio of 2.22 and a beta of 0.71. Fiesta Restaurant Group has a 52-week low of $15.50 and a 52-week high of $25.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.69 and a quick ratio of 0.64.

Fiesta Restaurant Group declared that its board has approved a stock buyback plan on Monday, February 26th that authorizes the company to buyback 1,500,000 outstanding shares. This buyback authorization authorizes the restaurant operator to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

In related news, major shareholder National Corp Leucadia bought 176,814 shares of the stock in a transaction on Thursday, March 1st. The shares were purchased at an average price of $16.59 per share, with a total value of $2,933,344.26. Following the purchase, the insider now owns 3,075,383 shares in the company, valued at $51,020,603.97. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack A. Smith bought 3,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were bought at an average cost of $17.04 per share, for a total transaction of $51,120.00. Following the purchase, the director now owns 52,041 shares in the company, valued at approximately $886,778.64. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC acquired a new position in Fiesta Restaurant Group during the 4th quarter valued at about $254,000. Ladenburg Thalmann Financial Services Inc. acquired a new position in Fiesta Restaurant Group during the 4th quarter valued at about $186,000. Stone Ridge Asset Management LLC acquired a new position in Fiesta Restaurant Group during the 4th quarter valued at about $372,000. Deutsche Bank AG increased its stake in Fiesta Restaurant Group by 129.0% during the 4th quarter. Deutsche Bank AG now owns 108,582 shares of the restaurant operator’s stock valued at $2,061,000 after buying an additional 61,163 shares during the period. Finally, Oaktree Capital Management LP increased its stake in Fiesta Restaurant Group by 243.3% during the 4th quarter. Oaktree Capital Management LP now owns 950,000 shares of the restaurant operator’s stock valued at $18,050,000 after buying an additional 673,286 shares during the period. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

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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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Analyst Recommendations for Fiesta Restaurant Group (NASDAQ:FRGI)

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