Fiesta Restaurant Group (NASDAQ:FRGI) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Fiesta Restaurant Group (NASDAQ:FRGI) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, BidAskClub reports.

A number of other research firms have also recently weighed in on FRGI. Stephens lowered their price objective on Fiesta Restaurant Group from $25.00 to $14.00 and set an overweight rating on the stock in a research report on Thursday, August 8th. Zacks Investment Research cut Fiesta Restaurant Group from a hold rating to a sell rating in a research report on Saturday, August 10th. Finally, ValuEngine raised Fiesta Restaurant Group from a strong sell rating to a sell rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Fiesta Restaurant Group presently has an average rating of Hold and a consensus target price of $19.00.

FRGI stock opened at $10.44 on Wednesday. Fiesta Restaurant Group has a twelve month low of $8.75 and a twelve month high of $30.35. The company has a quick ratio of 0.47, a current ratio of 0.52 and a debt-to-equity ratio of 1.55. The stock has a market cap of $286.86 million, a P/E ratio of 17.40 and a beta of -0.07. The business’s 50-day moving average price is $11.17 and its 200-day moving average price is $13.10.

Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). Fiesta Restaurant Group had a negative net margin of 6.92% and a positive return on equity of 6.32%. The company had revenue of $171.40 million for the quarter, compared to analysts’ expectations of $172.73 million. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities research analysts expect that Fiesta Restaurant Group will post 0.59 earnings per share for the current fiscal year.

In other Fiesta Restaurant Group news, major shareholder Jefferies Financial Group Inc. purchased 93,257 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average cost of $14.00 per share, with a total value of $1,305,598.00. Following the acquisition, the insider now owns 5,262,189 shares in the company, valued at $73,670,646. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders purchased 880,452 shares of company stock worth $12,127,611. 1.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its holdings in Fiesta Restaurant Group by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 190,310 shares of the restaurant operator’s stock worth $2,952,000 after purchasing an additional 976 shares in the last quarter. Bank of Montreal Can increased its stake in Fiesta Restaurant Group by 135.0% in the 2nd quarter. Bank of Montreal Can now owns 2,237 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 1,285 shares during the last quarter. Macquarie Group Ltd. increased its stake in Fiesta Restaurant Group by 440.0% in the 4th quarter. Macquarie Group Ltd. now owns 2,700 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 2,200 shares during the last quarter. Laurion Capital Management LP increased its stake in Fiesta Restaurant Group by 14.9% in the 1st quarter. Laurion Capital Management LP now owns 20,798 shares of the restaurant operator’s stock worth $273,000 after acquiring an additional 2,692 shares during the last quarter. Finally, Glassman Wealth Services bought a new stake in Fiesta Restaurant Group in the 2nd quarter worth approximately $37,000. 93.86% of the stock is currently owned by institutional investors.

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.

Read More: What is an SEC Filing?

Receive News & Ratings for Fiesta Restaurant Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fiesta Restaurant Group and related companies with MarketBeat.com's FREE daily email newsletter.