Zacks Investment Research Upgrades Fiesta Restaurant Group (FRGI) to Hold
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 research analysts also recently issued reports on FRGI. BidaskClub downgraded Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a report on Thursday, December 13th. ValuEngine downgraded Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a report on Thursday, December 27th. Stephens decreased their price objective on Fiesta Restaurant Group from $32.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, February 26th. Finally, TheStreet downgraded Fiesta Restaurant Group from a “c-” rating to a “d” rating in a report on Monday, February 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.00.
Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings data on Monday, February 25th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. The business had revenue of $167.60 million during the quarter, compared to the consensus estimate of $168.51 million. Fiesta Restaurant Group had a return on equity of 6.77% and a net margin of 1.13%. Fiesta Restaurant Group’s revenue was up 3.3% on a year-over-year basis. Research analysts anticipate that Fiesta Restaurant Group will post 0.69 earnings per share for the current fiscal year.
In other news, CEO Richard C. Stockinger acquired 3,290 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average cost of $15.25 per share, for a total transaction of $50,172.50. Following the completion of the acquisition, the chief executive officer now owns 88,190 shares in the company, valued at $1,344,897.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. grew its stake in Fiesta Restaurant Group by 440.0% in the fourth quarter. Macquarie Group Ltd. now owns 2,700 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 2,200 shares in the last quarter. Quantamental Technologies LLC bought a new position in Fiesta Restaurant Group in the fourth quarter valued at approximately $67,000. Municipal Employees Retirement System of Michigan bought a new position in Fiesta Restaurant Group in the fourth quarter valued at approximately $105,000. Metropolitan Life Insurance Co. NY grew its stake in Fiesta Restaurant Group by 259.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,881 shares of the restaurant operator’s stock valued at $107,000 after purchasing an additional 4,968 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in Fiesta Restaurant Group in the fourth quarter valued at approximately $138,000. Institutional investors and hedge funds own 97.01% 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 fire-grilled and citrus marinated chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants that provide Mexican inspired food made fresh by hand.
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