Fiesta Restaurant Group, Inc. (FRGI) Given Consensus Rating of “Hold” by Brokerages
Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $22.25.
FRGI has been the subject of a number of research reports. BidaskClub lowered shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Piper Jaffray Companies reissued a “neutral” rating and issued a $17.00 price target (down previously from $22.00) on shares of Fiesta Restaurant Group in a report on Thursday, August 10th. Zacks Investment Research lowered shares of Fiesta Restaurant Group from a “hold” rating to a “strong sell” rating in a report on Monday, July 10th. Wedbush reissued a “buy” rating on shares of Fiesta Restaurant Group in a report on Monday, September 18th. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of Fiesta Restaurant Group in a report on Monday, July 24th.
Shares of Fiesta Restaurant Group (NASDAQ FRGI) traded up 0.57% during trading on Friday, reaching $17.60. The company’s stock had a trading volume of 228,098 shares. The company’s market capitalization is $472.30 million. The company’s 50-day moving average is $17.56 and its 200-day moving average is $20.72. Fiesta Restaurant Group has a 12 month low of $15.50 and a 12 month high of $30.65.
Fiesta Restaurant Group (NASDAQ:FRGI) last issued its quarterly earnings results on Monday, August 7th. The restaurant operator reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The company had revenue of $172.62 million during the quarter, compared to analyst estimates of $178.19 million. Fiesta Restaurant Group had a negative net margin of 2.75% and a positive return on equity of 11.77%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS. On average, analysts forecast that Fiesta Restaurant Group will post $1.02 EPS for the current fiscal year.
In other news, Director Brian P. Friedman purchased 160,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $18.83 per share, with a total value of $3,012,800.00. Following the acquisition, the director now directly owns 36,270 shares of the company’s stock, valued at $682,964.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian P. Friedman acquired 51,710 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was bought at an average cost of $17.36 per share, for a total transaction of $897,685.60. Following the completion of the transaction, the director now directly owns 36,270 shares in the company, valued at approximately $629,647.20. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,271,375 shares of company stock valued at $22,323,743 in the last ninety days. Company insiders own 2.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of FRGI. State of Alaska Department of Revenue lifted its position in Fiesta Restaurant Group by 80.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,346 shares of the restaurant operator’s stock valued at $110,000 after acquiring an additional 2,376 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Fiesta Restaurant Group by 5.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,360 shares of the restaurant operator’s stock valued at $131,000 after acquiring an additional 310 shares in the last quarter. Mason Street Advisors LLC lifted its position in Fiesta Restaurant Group by 7.7% in the 1st quarter. Mason Street Advisors LLC now owns 6,295 shares of the restaurant operator’s stock valued at $152,000 after acquiring an additional 450 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Fiesta Restaurant Group by 61.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,225 shares of the restaurant operator’s stock valued at $211,000 after acquiring an additional 3,880 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Fiesta Restaurant Group in the 2nd quarter valued at $217,000. 94.00% of the stock is currently owned by institutional investors and hedge funds.
Fiesta Restaurant Group Company Profile
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).
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