Fiesta Restaurant Group (FRGI) Raised to “Hold” at Zacks Investment Research

Fiesta Restaurant Group (NASDAQ:FRGI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

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. “

FRGI has been the subject of several other reports. TheStreet downgraded shares of Fiesta Restaurant Group from a “c-” rating to a “d” rating in a research note on Monday, February 25th. BidaskClub downgraded shares of Fiesta Restaurant Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 7th. ValuEngine downgraded shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th. Finally, Stephens decreased their price target on shares of Fiesta Restaurant Group from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.00.

FRGI traded up $0.18 during midday trading on Monday, hitting $13.98. The company had a trading volume of 293,735 shares, compared to its average volume of 197,168. Fiesta Restaurant Group has a 52 week low of $13.40 and a 52 week high of $30.88. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. The company has a market cap of $375.83 million, a P/E ratio of 23.30 and a beta of 0.25.

Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings results on Monday, February 25th. The restaurant operator reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. Fiesta Restaurant Group had a net margin of 1.13% and a return on equity of 6.77%. The firm had revenue of $167.60 million during the quarter, compared to the consensus estimate of $168.51 million. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts forecast that Fiesta Restaurant Group will post 0.69 EPS for the current fiscal year.

In other Fiesta Restaurant Group news, CEO Richard C. Stockinger bought 3,290 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $15.25 per share, with a total value of $50,172.50. Following the completion of the transaction, the chief executive officer now directly owns 88,190 shares in the company, valued at approximately $1,344,897.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Several large investors have recently bought and sold shares of FRGI. Macquarie Group Ltd. increased its position in shares of Fiesta Restaurant Group by 440.0% during the fourth quarter. Macquarie Group Ltd. now owns 2,700 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 2,200 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of Fiesta Restaurant Group during the fourth quarter worth about $67,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Fiesta Restaurant Group during the fourth quarter worth about $105,000. Metropolitan Life Insurance Co. NY increased its position 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 worth $107,000 after acquiring an additional 4,968 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Fiesta Restaurant Group in the 3rd quarter worth about $136,000. 95.56% of the stock is owned by institutional investors.

Fiesta Restaurant Group Company Profile

Fiesta Restaurant Group, Inc engages in the acquisition, operation, and franchise of fast-casual restaurants. It operates through the following segments: Pollo Tropical, Taco Cabana, and Other. The Pollo Tropical segment offers a variety of Caribbean inspired food. The Taco Cabana segment serves a selection of Mexican inspired food.

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