Wedbush reissued their outperform rating on shares of Fiesta Restaurant Group (NASDAQ:FRGI) in a report released on Friday. They currently have a $24.00 price target on the restaurant operator’s stock, up from their prior price target of $19.00. Wedbush also issued estimates for Fiesta Restaurant Group’s Q3 2018 earnings at $0.14 EPS and Q4 2018 earnings at $0.19 EPS.

Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Fiesta Restaurant Group from a sell rating to a hold rating in a research note on Thursday, November 9th. TheStreet cut shares of Fiesta Restaurant Group from a c- rating to a d+ rating in a research note on Thursday, September 7th. Finally, Piper Jaffray Companies cut shares of Fiesta Restaurant Group from a neutral rating to an underweight rating and dropped their price objective for the company from $17.00 to $14.00 in a research note on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Fiesta Restaurant Group has an average rating of Hold and a consensus target price of $22.60.

Shares of Fiesta Restaurant Group (NASDAQ:FRGI) traded up $1.20 on Friday, reaching $19.85. 350,342 shares of the company’s stock traded hands, compared to its average volume of 307,297. The company has a quick ratio of 0.49, a current ratio of 0.53 and a debt-to-equity ratio of 0.26. The firm has a market cap of $534.39, a PE ratio of 21.19, a P/E/G ratio of 1.79 and a beta of 0.76. 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 announced its quarterly earnings data on Monday, November 6th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.19). The firm had revenue of $158.70 million during the quarter, compared to analyst estimates of $162.05 million. Fiesta Restaurant Group had a negative net margin of 3.40% and a positive return on equity of 9.49%. The business’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. sell-side analysts anticipate that Fiesta Restaurant Group will post 0.74 EPS for the current fiscal year.

In related news, insider Charles Locke purchased 1,565 shares of the stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average cost of $18.73 per share, with a total value of $29,312.45. Following the purchase, the insider now directly owns 1,565 shares in the company, valued at approximately $29,312.45. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian P. Friedman purchased 290,000 shares of the stock in a transaction dated Monday, September 11th. The shares were bought at an average cost of $16.06 per share, for a total transaction of $4,657,400.00. Following the completion of the purchase, the director now owns 2,152,565 shares in the company, valued at $34,570,193.90. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 344,275 shares of company stock worth $5,601,878. Corporate insiders own 2.20% of the company’s stock.

Several large investors have recently bought and sold shares of FRGI. Newtyn Management LLC acquired a new position in shares of Fiesta Restaurant Group during the 3rd quarter worth $19,000,000. Wasatch Advisors Inc. grew its stake in shares of Fiesta Restaurant Group by 11.5% during 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. Dimensional Fund Advisors LP grew its stake in shares of Fiesta Restaurant Group by 32.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,449,051 shares of the restaurant operator’s stock worth $29,923,000 after purchasing an additional 354,351 shares during the period. Leucadia National Corp grew its stake in shares of Fiesta Restaurant Group by 34.7% during the 2nd quarter. Leucadia National Corp now owns 1,356,295 shares of the restaurant operator’s stock worth $28,007,000 after purchasing an additional 349,295 shares during the period. Finally, Oaktree Capital Management LP acquired a new position in shares of Fiesta Restaurant Group during the 3rd quarter worth $5,258,000. 94.11% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Fiesta Restaurant Group (FRGI) Receives Outperform Rating from Wedbush” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/12/09/fiesta-restaurant-group-frgi-receives-outperform-rating-from-wedbush.html.

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)

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