Raymond James Financial, Inc. Analysts Give Del Frisco’s Restaurant Group, Inc. (DFRG) a $16.00 Price Target

Del Frisco’s Restaurant Group, Inc. (NASDAQ:DFRG) has been assigned a $16.00 target price by Raymond James Financial, Inc. in a research note issued on Monday, October 16th. The brokerage currently has a “hold” rating on the restaurant operator’s stock. Raymond James Financial, Inc.’s price target would suggest a potential upside of 15.94% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Zacks Investment Research cut Del Frisco’s Restaurant Group from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Canaccord Genuity restated a “hold” rating and issued a $16.00 price target on shares of Del Frisco’s Restaurant Group in a report on Sunday, October 1st. Finally, BidaskClub cut Del Frisco’s Restaurant Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $16.00.

Shares of Del Frisco’s Restaurant Group (NASDAQ:DFRG) opened at 13.80 on Monday. The stock’s 50 day moving average is $13.91 and its 200-day moving average is $15.49. The stock has a market cap of $292.82 million, a price-to-earnings ratio of 28.69 and a beta of 0.78. Del Frisco’s Restaurant Group has a 12-month low of $11.70 and a 12-month high of $18.80.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last announced its earnings results on Friday, October 13th. The restaurant operator reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Del Frisco’s Restaurant Group had a net margin of 3.00% and a return on equity of 6.94%. The firm had revenue of $73.30 million during the quarter, compared to analyst estimates of $73.58 million. During the same period in the previous year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts anticipate that Del Frisco’s Restaurant Group will post $0.73 EPS for the current fiscal year.

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In other Del Frisco’s Restaurant Group news, CFO Neil H. Thomson acquired 4,000 shares of Del Frisco’s Restaurant Group stock in a transaction that occurred on Sunday, July 30th. The stock was purchased at an average cost of $14.25 per share, with a total value of $57,000.00. Following the purchase, the chief financial officer now owns 34,224 shares in the company, valued at $487,692. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ian Russell Carter purchased 8,900 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were purchased at an average cost of $12.70 per share, with a total value of $113,030.00. Following the completion of the purchase, the director now directly owns 47,239 shares in the company, valued at $599,935.30. The disclosure for this purchase can be found here. In the last three months, insiders bought 22,194 shares of company stock valued at $297,296. Company insiders own 2.40% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in Del Frisco’s Restaurant Group by 527.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 121,567 shares of the restaurant operator’s stock valued at $1,957,000 after buying an additional 102,206 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Del Frisco’s Restaurant Group by 55.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 310,914 shares of the restaurant operator’s stock worth $5,006,000 after buying an additional 111,405 shares during the period. State Street Corp lifted its position in shares of Del Frisco’s Restaurant Group by 8.1% during the 2nd quarter. State Street Corp now owns 447,940 shares of the restaurant operator’s stock worth $7,214,000 after buying an additional 33,730 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Del Frisco’s Restaurant Group during the 2nd quarter worth approximately $1,051,000. Finally, Janus Henderson Group PLC bought a new position in Del Frisco’s Restaurant Group in the 2nd quarter valued at $13,574,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

About Del Frisco’s Restaurant Group

Del Frisco’s Restaurant Group, Inc develops, owns and operates three contemporary, complementary restaurants: Del Frisco’s Double Eagle Steak House (Del Frisco’s), Sullivan’s Steakhouse (Sullivan’s) and Del Frisco’s Grille (the Grille). As of December 27, 2016, the Company operated 53 restaurants in 24 states and the District of Columbia in the United States.

Analyst Recommendations for Del Frisco`s Restaurant Group (NASDAQ:DFRG)

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