Shares of Fiesta Restaurant Group Inc (NASDAQ:FRGI) have received an average recommendation of “Hold” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $22.60.
Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Wedbush reiterated a “buy” rating and issued a $24.00 target price on shares of Fiesta Restaurant Group in a research note on Tuesday, February 27th. ValuEngine downgraded shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research report on Wednesday, February 28th. Finally, Zacks Investment Research downgraded shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd.
In related news, major shareholder National Corp Leucadia acquired 7,000 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were bought at an average price of $18.39 per share, for a total transaction of $128,730.00. Following the completion of the transaction, the insider now directly owns 3,270,578 shares in the company, valued at $60,145,929.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack A. Smith purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was acquired at an average price of $17.04 per share, for a total transaction of $51,120.00. Following the completion of the transaction, the director now directly owns 52,041 shares of the company’s stock, valued at approximately $886,778.64. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 186,814 shares of company stock worth $3,113,194 and have sold 941 shares worth $17,673. 2.20% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRGI. Oaktree Capital Management LP raised its position in Fiesta Restaurant Group by 243.3% in the fourth quarter. Oaktree Capital Management LP now owns 950,000 shares of the restaurant operator’s stock worth $18,050,000 after acquiring an additional 673,286 shares during the period. BlackRock Inc. raised its position in Fiesta Restaurant Group by 4.7% in the fourth quarter. BlackRock Inc. now owns 3,475,407 shares of the restaurant operator’s stock worth $66,032,000 after acquiring an additional 155,965 shares during the period. Thomson Horstmann & Bryant Inc. raised its position in Fiesta Restaurant Group by 88.9% in the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 318,428 shares of the restaurant operator’s stock worth $6,050,000 after acquiring an additional 149,888 shares during the period. Landscape Capital Management L.L.C. bought a new position in Fiesta Restaurant Group in the fourth quarter worth approximately $2,423,000. Finally, Fuller & Thaler Asset Management Inc. bought a new position in Fiesta Restaurant Group in the fourth quarter worth approximately $1,560,000. Institutional investors and hedge funds own 98.29% of the company’s stock.
Shares of NASDAQ FRGI traded down $0.20 during midday trading on Thursday, hitting $19.55. The stock had a trading volume of 155,168 shares, compared to its average volume of 244,362. The company has a market cap of $542.33, a PE ratio of 32.58, a P/E/G ratio of 2.54 and a beta of 0.54. 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 quick ratio of 0.64 and a current ratio of 0.69.
Fiesta Restaurant Group declared that its Board of Directors has authorized a share 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 buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
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Fiesta Restaurant Group Company Profile
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 citrus marinated, fire-grilled chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants provide Mexican inspired food made fresh by hand.
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