Fiesta Restaurant Group Inc (FRGI) Given Consensus Rating of “Hold” by Brokerages

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Fiesta Restaurant Group Inc (NASDAQ:FRGI) has received an average recommendation of “Hold” from the seven brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $26.50.

FRGI has been the subject of several research analyst reports. TheStreet downgraded Fiesta Restaurant Group from a “c-” rating to a “d” rating in a research note on Monday, February 25th. BidaskClub downgraded Fiesta Restaurant Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 24th. ValuEngine upgraded Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Stephens reduced their target price 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. Finally, Zacks Investment Research upgraded Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Friday, April 12th.

Shares of NASDAQ FRGI traded up $0.06 during midday trading on Friday, hitting $14.01. 4,545 shares of the company’s stock were exchanged, compared to its average volume of 315,813. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.38. Fiesta Restaurant Group has a 12 month low of $12.27 and a 12 month high of $30.88. The company has a market capitalization of $382.96 million, a P/E ratio of 23.35 and a beta of 0.21.

Fiesta Restaurant Group (NASDAQ:FRGI) last issued its earnings results on Monday, May 6th. The restaurant operator reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). Fiesta Restaurant Group had a return on equity of 6.55% and a net margin of 0.86%. The business had revenue of $165.85 million for the quarter, compared to the consensus estimate of $163.15 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. Analysts predict that Fiesta Restaurant Group will post 0.65 EPS for the current fiscal year.

In other news, CEO Richard C. Stockinger purchased 3,290 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average cost of $15.25 per share, with a total value of $50,172.50. Following the acquisition, the chief executive officer now owns 88,190 shares in the company, valued at approximately $1,344,897.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jefferies Financial Group Inc. purchased 138,571 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $13.56 per share, with a total value of $1,879,022.76. Following the completion of the acquisition, the insider now owns 3,954,430 shares in the company, valued at approximately $53,622,070.80. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 309,670 shares of company stock valued at $4,115,747. 1.40% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Lombard Odier Asset Management USA Corp acquired a new stake in Fiesta Restaurant Group during the 1st quarter worth approximately $194,000. Equitable Trust Co. lifted its holdings in Fiesta Restaurant Group by 7.9% during the 1st quarter. Equitable Trust Co. now owns 50,670 shares of the restaurant operator’s stock worth $664,000 after purchasing an additional 3,720 shares during the last quarter. Private Capital Management LLC lifted its holdings in Fiesta Restaurant Group by 8.0% during the 1st quarter. Private Capital Management LLC now owns 991,474 shares of the restaurant operator’s stock worth $12,998,000 after purchasing an additional 73,851 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Fiesta Restaurant Group by 6.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 326,591 shares of the restaurant operator’s stock worth $4,282,000 after purchasing an additional 19,214 shares during the last quarter. Finally, Oxford Asset Management LLP lifted its holdings in Fiesta Restaurant Group by 64.3% during the 1st quarter. Oxford Asset Management LLP now owns 215,628 shares of the restaurant operator’s stock worth $2,827,000 after purchasing an additional 84,392 shares during the last quarter. 96.61% of the stock is owned by institutional investors and hedge funds.

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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