Fiesta Restaurant Group Inc (NASDAQ:FRGI) Receives Average Recommendation of “Hold” from Brokerages

Fiesta Restaurant Group Inc (NASDAQ:FRGI) has been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $26.50.

FRGI has been the subject of several analyst reports. Zacks Investment Research upgraded Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. ValuEngine upgraded Fiesta Restaurant Group from a “strong sell” rating to a “sell” rating in a research report on Thursday. Finally, BidaskClub lowered Fiesta Restaurant Group from a “sell” rating to a “strong sell” rating in a research report on Friday, July 12th.

Shares of FRGI stock traded down $0.33 during trading hours on Wednesday, reaching $9.43. The company had a trading volume of 856 shares, compared to its average volume of 238,469. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a fifty day simple moving average of $12.01. The firm has a market cap of $267.93 million, a P/E ratio of 16.10 and a beta of -0.07. Fiesta Restaurant Group has a 12-month low of $9.51 and a 12-month high of $30.55.

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

In other Fiesta Restaurant Group news, major shareholder Jefferies Financial Group Inc. acquired 138,571 shares of the 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 completion of the transaction, the insider now owns 3,954,430 shares of the company’s stock, valued at approximately $53,622,070.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 1,588,075 shares of company stock valued at $21,794,537 over the last quarter. 1.40% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Fiesta Restaurant Group by 1.3% in the fourth quarter. BlackRock Inc. now owns 3,449,038 shares of the restaurant operator’s stock valued at $53,494,000 after purchasing an additional 44,792 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Fiesta Restaurant Group by 5.5% during the fourth 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 in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Fiesta Restaurant Group by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 190,310 shares of the restaurant operator’s stock valued at $2,952,000 after acquiring an additional 976 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Fiesta Restaurant Group by 119.4% during the fourth 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 in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Fiesta Restaurant Group by 39.6% during the fourth quarter. Bank of America Corp DE now owns 43,631 shares of the restaurant operator’s stock valued at $677,000 after acquiring an additional 12,379 shares in the last quarter. Institutional investors own 93.17% of the company’s stock.

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 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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