Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) was downgraded by analysts at Piper Jaffray Companies from a “neutral” rating to an “underweight” rating in a research report issued on Thursday. They currently have a $14.00 price target on the restaurant operator’s stock, down from their prior price target of $17.00. Piper Jaffray Companies’ price objective would indicate a potential downside of 11.95% from the stock’s previous close.

A number of other brokerages have also recently commented on FRGI. Jefferies Group LLC reissued a “hold” rating and set a $25.00 target price on shares of Fiesta Restaurant Group in a report on Monday, May 15th. Zacks Investment Research cut Fiesta Restaurant Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 10th. BidaskClub cut Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of Fiesta Restaurant Group in a report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $24.33.

Fiesta Restaurant Group (NASDAQ FRGI) opened at 15.90 on Thursday. The firm’s 50-day moving average price is $17.62 and its 200 day moving average price is $21.10. Fiesta Restaurant Group has a 12-month low of $15.50 and a 12-month high of $30.65. The stock’s market cap is $426.68 million.

Fiesta Restaurant Group (NASDAQ:FRGI) last announced its earnings results on Monday, August 7th. The restaurant operator reported $0.30 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $172.62 million for the quarter, compared to analyst estimates of $178.19 million. During the same period in the previous year, the company earned $0.34 EPS. Fiesta Restaurant Group’s revenue was down 4.9% compared to the same quarter last year. Analysts anticipate that Fiesta Restaurant Group will post $1.02 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Fiesta Restaurant Group, Inc. (FRGI) Rating Lowered to Underweight at Piper Jaffray Companies” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://www.thecerbatgem.com/2017/09/09/fiesta-restaurant-group-inc-frgi-rating-lowered-to-underweight-at-piper-jaffray-companies.html.

In related news, CEO Richard C. Stockinger purchased 2,750 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average price of $18.30 per share, with a total value of $50,325.00. Following the completion of the acquisition, the chief executive officer now owns 81,985 shares in the company, valued at $1,500,325.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian P. Friedman purchased 160,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $18.83 per share, with a total value of $3,012,800.00. Following the acquisition, the director now owns 36,270 shares of the company’s stock, valued at approximately $682,964.10. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 928,665 shares of company stock valued at $16,751,177. Insiders own 2.20% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Arizona State Retirement System increased its holdings in shares of Fiesta Restaurant Group by 0.7% in the second quarter. Arizona State Retirement System now owns 14,100 shares of the restaurant operator’s stock valued at $291,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Fiesta Restaurant Group by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the restaurant operator’s stock valued at $266,000 after purchasing an additional 200 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of Fiesta Restaurant Group by 1.4% in the second quarter. Texas Permanent School Fund now owns 19,760 shares of the restaurant operator’s stock valued at $408,000 after purchasing an additional 268 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Fiesta Restaurant Group by 5.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,360 shares of the restaurant operator’s stock valued at $131,000 after purchasing an additional 310 shares during the last quarter. Finally, Mason Street Advisors LLC increased its holdings in shares of Fiesta Restaurant Group by 7.7% in the first quarter. Mason Street Advisors LLC now owns 6,295 shares of the restaurant operator’s stock valued at $152,000 after purchasing an additional 450 shares during the last quarter. 94.09% of the stock is owned by hedge funds and other institutional investors.

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 & Stock 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 stocks with our FREE daily email newsletter.