Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) Downgraded to Underweight at Piper Jaffray Companies

Piper Jaffray Companies cut shares of Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) from a neutral rating to an underweight rating in a report published on Thursday, September 7th, Marketbeat reports. The firm currently has $14.00 price target on the restaurant operator’s stock, down from their previous price target of $17.00.

Other research analysts have also recently issued reports about the company. BidaskClub cut Fiesta Restaurant Group from a sell rating to a strong sell rating in a research report on Sunday, July 16th. Zacks Investment Research cut Fiesta Restaurant Group from a hold rating to a strong sell rating in a research report on Monday, July 10th. Jefferies Group LLC reissued a hold rating and issued a $25.00 target price on shares of Fiesta Restaurant Group in a research report on Monday, May 15th. Finally, Raymond James Financial, Inc. reissued a market perform rating on shares of Fiesta Restaurant Group in a research report on Monday, July 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $24.33.

Shares of Fiesta Restaurant Group (FRGI) traded up 7.08% on Thursday, reaching $18.15. 728,276 shares of the company traded hands. The company’s market capitalization is $487.06 million. The firm has a 50-day moving average price of $17.54 and a 200 day moving average price of $20.75. Fiesta Restaurant Group has a one year low of $15.50 and a one year high of $30.65.

Fiesta Restaurant Group (NASDAQ:FRGI) last released its quarterly earnings data on Monday, August 7th. The restaurant operator reported $0.30 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.03). Fiesta Restaurant Group had a negative net margin of 2.75% and a positive return on equity of 11.77%. The business had revenue of $172.62 million for the quarter, compared to analysts’ expectations of $178.19 million. During the same period last year, the business earned $0.34 earnings per share. The company’s quarterly revenue was down 4.9% on a year-over-year basis. Equities analysts forecast that Fiesta Restaurant Group will post $1.02 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) Downgraded to Underweight at Piper Jaffray Companies” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://ledgergazette.com/2017/09/17/piper-jaffray-companies-lowers-fiesta-restaurant-group-inc-frgi-to-underweight.html.

In other Fiesta Restaurant Group news, Director Brian P. Friedman bought 160,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $18.83 per share, with a total value of $3,012,800.00. Following the purchase, the director now owns 36,270 shares of the company’s stock, valued at $682,964.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian P. Friedman bought 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $18.71 per share, for a total transaction of $1,122,600.00. Following the purchase, the director now directly owns 36,270 shares in the company, valued at approximately $678,611.70. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,271,375 shares of company stock worth $22,323,743 in the last three months. 2.20% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Wasatch Advisors Inc. boosted its holdings in shares of Fiesta Restaurant Group by 11.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 3,572,879 shares of the restaurant operator’s stock worth $73,780,000 after purchasing an additional 368,346 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Fiesta Restaurant Group by 29.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 88,090 shares of the restaurant operator’s stock worth $1,819,000 after purchasing an additional 20,148 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Fiesta Restaurant Group in the 2nd quarter worth approximately $217,000. State Street Corp boosted its holdings in shares of Fiesta Restaurant Group by 4.8% in the 2nd quarter. State Street Corp now owns 619,008 shares of the restaurant operator’s stock worth $12,777,000 after purchasing an additional 28,557 shares during the period. Finally, Western Standard LLC boosted its holdings in shares of Fiesta Restaurant Group by 151.7% in the 2nd quarter. Western Standard LLC now owns 193,306 shares of the restaurant operator’s stock worth $3,992,000 after purchasing an additional 116,518 shares during the period. Hedge funds and other institutional investors own 94.09% of the company’s stock.

About Fiesta Restaurant Group

Fiesta Restaurant Group, Inc owns, operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana through its subsidiaries Pollo Operations, Inc, and its subsidiaries, and Pollo Franchise, Inc, (collectively Pollo Tropical) and Taco Cabana, Inc and its subsidiaries (collectively Taco Cabana).

Analyst Recommendations for Fiesta Restaurant Group (NASDAQ:FRGI)

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

Leave a Reply