Del Frisco's Restaurant Group (DFRG) Upgraded by Zacks Investment Research to “Buy”

Del Frisco's Restaurant Group (NASDAQ:DFRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $18.00 price target on the restaurant operator’s stock. Zacks Investment Research‘s target price indicates a potential upside of 5.88% from the stock’s previous close.

According to Zacks, “Del Frisco’s Restaurant Group, LLC develops, owns and operates three contemporary, complementary restaurant concepts: Del Frisco’s Double Eagle Steak House, Sullivan’s Steakhouse and Del Frisco’s Grille. The restaurants offer selections that include steaks, lobster tails, lamb chops and fresh seafood, as well as an extensive wine selection. Del Frisco’s Restaurant Group, LLC is headquartered in Wichita, Kansas. “

Several other research firms also recently issued reports on DFRG. Stephens upgraded shares of Del Frisco's Restaurant Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $15.10 to $18.00 in a report on Wednesday. Canaccord Genuity restated a “hold” rating and set a $16.00 price objective on shares of Del Frisco's Restaurant Group in a report on Sunday, October 1st. Credit Suisse Group dropped their price objective on shares of Del Frisco's Restaurant Group from $16.50 to $14.50 and set an “outperform” rating on the stock in a report on Wednesday, October 18th. Finally, Raymond James Financial set a $16.00 price objective on shares of Del Frisco's Restaurant Group and gave the stock a “hold” rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $16.67.

Shares of Del Frisco's Restaurant Group (DFRG) traded up $1.05 on Friday, reaching $17.00. 481,088 shares of the company traded hands, compared to its average volume of 522,578. The company has a market cap of $323.59, a P/E ratio of 36.96, a PEG ratio of 1.75 and a beta of 0.79. Del Frisco's Restaurant Group has a 12-month low of $11.70 and a 12-month high of $18.80. The company has a quick ratio of 0.33, a current ratio of 0.76 and a debt-to-equity ratio of 0.19.

Del Frisco's Restaurant Group (NASDAQ:DFRG) last announced its earnings results on Friday, October 13th. The restaurant operator reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $73.30 million during the quarter, compared to the consensus estimate of $73.58 million. Del Frisco's Restaurant Group had a return on equity of 6.94% and a net margin of 3.00%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 EPS. equities research analysts forecast that Del Frisco's Restaurant Group will post 0.73 EPS for the current year.

In related news, Director Ian Russell Carter acquired 8,900 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were bought at an average price of $12.70 per share, for a total transaction of $113,030.00. Following the acquisition, the director now owns 47,239 shares in the company, valued at approximately $599,935.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have bought 11,000 shares of company stock worth $139,796. Insiders own 2.70% of the company’s stock.

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Del Frisco's Restaurant Group by 66.4% during the 2nd quarter. SG Americas Securities LLC now owns 11,580 shares of the restaurant operator’s stock valued at $186,000 after acquiring an additional 4,621 shares in the last quarter. AXA acquired a new stake in shares of Del Frisco's Restaurant Group during the 2nd quarter valued at about $203,000. Voya Investment Management LLC boosted its position in shares of Del Frisco's Restaurant Group by 12.7% during the 2nd quarter. Voya Investment Management LLC now owns 14,576 shares of the restaurant operator’s stock valued at $235,000 after acquiring an additional 1,643 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Del Frisco's Restaurant Group by 1.9% during the 2nd quarter. Rhumbline Advisers now owns 26,097 shares of the restaurant operator’s stock valued at $420,000 after acquiring an additional 485 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of Del Frisco's Restaurant Group by 74.3% during the 2nd quarter. Nationwide Fund Advisors now owns 33,431 shares of the restaurant operator’s stock valued at $538,000 after acquiring an additional 14,254 shares in the last quarter. Institutional investors and hedge funds own 96.32% of the company’s stock.

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About Del Frisco's Restaurant Group

Del Frisco’s Restaurant Group, Inc develops, owns and operates three contemporary, complementary restaurants: Del Frisco’s Double Eagle Steak House (Del Frisco’s), Sullivan’s Steakhouse (Sullivan’s) and Del Frisco’s Grille (the Grille). As of December 27, 2016, the Company operated 53 restaurants in 24 states and the District of Columbia in the United States.

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