BidaskClub Lowers Fiesta Restaurant Group (NASDAQ:FRGI) to Sell

BidaskClub downgraded shares of Fiesta Restaurant Group (NASDAQ:FRGI) from a hold rating to a sell rating in a research note issued to investors on Friday, BidAskClub reports.

FRGI has been the subject of a number of other reports. Zacks Investment Research upgraded Fiesta Restaurant Group from a sell rating to a hold rating in a research note on Tuesday, May 21st. TheStreet downgraded Fiesta Restaurant Group from a c- rating to a d rating in a research note on Monday, February 25th. ValuEngine downgraded Fiesta Restaurant Group from a hold rating to a sell rating in a research note on Monday, April 1st. Finally, Stephens cut their price target on Fiesta Restaurant Group from $32.00 to $25.00 and set an overweight rating for the company in a research note on Tuesday, February 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $22.67.

Shares of NASDAQ:FRGI opened at $13.01 on Friday. Fiesta Restaurant Group has a fifty-two week low of $12.27 and a fifty-two week high of $30.88. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $357.15 million, a price-to-earnings ratio of 21.68 and a beta of 0.03.

Fiesta Restaurant Group (NASDAQ:FRGI) last issued its earnings results on Monday, May 6th. The restaurant operator reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). The business had revenue of $165.85 million during the quarter, compared to analysts’ expectations of $163.15 million. Fiesta Restaurant Group had a return on equity of 6.55% and a net margin of 0.86%. Fiesta Restaurant Group’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the firm posted $0.16 EPS. Sell-side analysts forecast that Fiesta Restaurant Group will post 0.63 earnings per share for the current year.

In related news, major shareholder Jefferies Financial Group Inc. acquired 138,571 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average cost of $13.56 per share, for a total transaction of $1,879,022.76. Following the purchase, the insider now owns 3,954,430 shares in the company, valued at approximately $53,622,070.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have purchased 1,588,075 shares of company stock valued at $21,794,537. 1.40% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Millennium Management LLC grew its stake in shares of Fiesta Restaurant Group by 44.5% during the 4th quarter. Millennium Management LLC now owns 402,035 shares of the restaurant operator’s stock valued at $6,236,000 after acquiring an additional 123,769 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Fiesta Restaurant Group by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 279,229 shares of the restaurant operator’s stock valued at $4,330,000 after acquiring an additional 14,545 shares during the period. Arizona State Retirement System grew its stake in shares of Fiesta Restaurant Group by 6.1% during the 4th quarter. Arizona State Retirement System now owns 36,099 shares of the restaurant operator’s stock valued at $560,000 after acquiring an additional 2,083 shares during the period. Two Sigma Advisers LP grew its stake in shares of Fiesta Restaurant Group by 119.4% during the 4th quarter. Two Sigma Advisers LP now owns 192,758 shares of the restaurant operator’s stock valued at $2,990,000 after acquiring an additional 104,900 shares during the period. Finally, Squarepoint Ops LLC grew its stake in shares of Fiesta Restaurant Group by 168.1% during the 4th quarter. Squarepoint Ops LLC now owns 153,168 shares of the restaurant operator’s stock valued at $2,376,000 after acquiring an additional 96,046 shares during the period. Institutional investors own 93.20% of the company’s stock.

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

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