Fiesta Restaurant Group (NASDAQ:FRGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Fiesta Restaurant Group, Inc. owns and operates quick-casual restaurants under the Pollo Tropical(R) and Taco Cabana(R) brand names in the United States. The Company’s Pollo Tropical restaurants offer a wide selection of tropical and Caribbean inspired food. The Taco Cabana restaurants offer a wide selection of fresh Tex-Mex and traditional Mexican food. Fiesta Restaurant Group, Inc. is headquartered in Miami, Florida. “
A number of other brokerages have also recently weighed in on FRGI. ValuEngine raised shares of Fiesta Restaurant Group from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. BidaskClub raised shares of Fiesta Restaurant Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 12th. TheStreet raised shares of Fiesta Restaurant Group from a “d+” rating to a “c” rating in a research report on Wednesday, May 9th. Stephens raised shares of Fiesta Restaurant Group from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective on the stock in a research report on Tuesday, May 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of Fiesta Restaurant Group in a research report on Tuesday, May 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $22.75.
Shares of NASDAQ FRGI opened at $24.55 on Wednesday. The firm has a market cap of $664.95 million, a PE ratio of 40.92, a PEG ratio of 2.95 and a beta of 0.51. Fiesta Restaurant Group has a twelve month low of $24.30 and a twelve month high of $24.60. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 0.35.
Fiesta Restaurant Group (NASDAQ:FRGI) last announced its quarterly earnings results on Monday, May 7th. The restaurant operator reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $169.48 million for the quarter, compared to the consensus estimate of $163.86 million. Fiesta Restaurant Group had a positive return on equity of 5.87% and a negative net margin of 2.56%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 earnings per share. equities analysts anticipate that Fiesta Restaurant Group will post 0.64 earnings per share for the current fiscal year.
Fiesta Restaurant Group announced that its board has approved a stock repurchase plan on Monday, February 26th that authorizes the company to repurchase 1,500,000 outstanding shares. This repurchase authorization authorizes the restaurant operator to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other Fiesta Restaurant Group news, Director Jack A. Smith purchased 3,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were purchased at an average cost of $17.04 per share, for a total transaction of $51,120.00. Following the purchase, the director now owns 52,041 shares of the company’s stock, valued at $886,778.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder National Corp Leucadia purchased 176,814 shares of the stock in a transaction on Thursday, March 1st. The stock was acquired at an average price of $16.59 per share, for a total transaction of $2,933,344.26. Following the completion of the purchase, the insider now directly owns 3,075,383 shares in the company, valued at approximately $51,020,603.97. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 186,814 shares of company stock worth $3,113,194 and sold 941 shares worth $17,673. Insiders own 2.20% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Barclays PLC increased its stake in Fiesta Restaurant Group by 92.7% in the 1st quarter. Barclays PLC now owns 8,063 shares of the restaurant operator’s stock valued at $149,000 after buying an additional 3,879 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. acquired a new stake in Fiesta Restaurant Group in the 4th quarter valued at $186,000. Virtu Financial LLC acquired a new stake in Fiesta Restaurant Group in the 4th quarter valued at $205,000. MetLife Investment Advisors LLC acquired a new stake in Fiesta Restaurant Group in the 4th quarter valued at $254,000. Finally, New York State Teachers Retirement System increased its stake in Fiesta Restaurant Group by 49.6% in the 1st quarter. New York State Teachers Retirement System now owns 15,677 shares of the restaurant operator’s stock valued at $290,000 after buying an additional 5,200 shares during the last quarter. Hedge funds and other institutional investors own 97.84% 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 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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