Zacks Investment Research cut shares of Fiesta Restaurant Group (NASDAQ:FRGI) from a hold rating to a sell rating in a research note published on Saturday, Zacks.com reports.

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 firms have also recently issued reports on FRGI. BidaskClub upgraded Fiesta Restaurant Group from a strong sell rating to a sell rating in a research report on Tuesday, August 6th. Stephens lowered their price objective on Fiesta Restaurant Group from $25.00 to $14.00 and set an overweight rating on the stock in a research report on Thursday, August 8th. Finally, ValuEngine upgraded Fiesta Restaurant Group from a strong sell rating to a sell rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $19.00.

FRGI opened at $10.81 on Friday. The company has a market capitalization of $296.21 million, a PE ratio of 18.02 and a beta of -0.07. The company has a current ratio of 0.52, a quick ratio of 0.47 and a debt-to-equity ratio of 1.55. Fiesta Restaurant Group has a 1 year low of $8.75 and a 1 year high of $30.35. The company’s 50 day moving average price is $11.31.

Fiesta Restaurant Group (NASDAQ:FRGI) last released its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $171.40 million for the quarter, compared to the consensus estimate of $172.73 million. Fiesta Restaurant Group had a negative net margin of 6.92% and a positive return on equity of 6.32%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Analysts anticipate that Fiesta Restaurant Group will post 0.59 earnings per share for the current year.

In related news, major shareholder Jefferies Financial Group Inc. purchased 18,917 shares of the stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average cost of $13.96 per share, for a total transaction of $264,081.32. Following the completion of the transaction, the insider now directly owns 4,427,886 shares of the company’s stock, valued at approximately $61,813,288.56. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders acquired 1,132,747 shares of company stock worth $15,649,649 over the last quarter. Company insiders own 1.40% of the company’s stock.

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in shares of Fiesta Restaurant Group by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 279,229 shares of the restaurant operator’s stock valued at $4,330,000 after purchasing an additional 14,545 shares during the period. Principal Financial Group Inc. raised its stake in shares of Fiesta Restaurant Group by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 190,310 shares of the restaurant operator’s stock valued at $2,952,000 after purchasing an additional 976 shares during the period. Bank of America Corp DE raised its stake in shares of Fiesta Restaurant Group by 39.6% during the fourth quarter. Bank of America Corp DE now owns 43,631 shares of the restaurant operator’s stock valued at $677,000 after purchasing an additional 12,379 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of Fiesta Restaurant Group by 259.7% during 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 during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Fiesta Restaurant Group during the fourth quarter valued at approximately $105,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

About Fiesta Restaurant Group

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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