Fiesta Restaurant Group (NASDAQ:FRGI) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of Fiesta Restaurant Group (NASDAQ:FRGI) from a strong sell rating to a sell rating in a report issued on Thursday, BidAskClub reports.

FRGI has been the subject of several other research reports. Stephens dropped their price target on Fiesta Restaurant Group from $25.00 to $14.00 and set an overweight rating for the company in a research report on Thursday, August 8th. Zacks Investment Research lowered Fiesta Restaurant Group from a hold rating to a sell rating in a research report on Saturday, August 10th. Finally, ValuEngine upgraded Fiesta Restaurant Group from a sell rating to a hold rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $19.00.

FRGI traded up $0.13 on Thursday, hitting $10.45. The company had a trading volume of 256,788 shares, compared to its average volume of 244,656. The company has a market cap of $268.18 million, a PE ratio of 17.42 and a beta of -0.09. Fiesta Restaurant Group has a 12-month low of $8.23 and a 12-month high of $30.11. The company has a quick ratio of 0.47, a current ratio of 0.52 and a debt-to-equity ratio of 1.55. The business’s fifty day simple moving average is $9.72 and its 200 day simple moving average is $12.40.

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

Several large investors have recently made changes to their positions in FRGI. Private Capital Management LLC boosted its position in shares of Fiesta Restaurant Group by 52.4% during the second quarter. Private Capital Management LLC now owns 1,510,790 shares of the restaurant operator’s stock valued at $19,852,000 after buying an additional 519,316 shares during the period. Kennedy Capital Management Inc. boosted its position in shares of Fiesta Restaurant Group by 370.5% during the first quarter. Kennedy Capital Management Inc. now owns 432,798 shares of the restaurant operator’s stock valued at $5,674,000 after buying an additional 340,806 shares during the period. D. E. Shaw & Co. Inc. boosted its position in shares of Fiesta Restaurant Group by 35.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 750,558 shares of the restaurant operator’s stock valued at $9,863,000 after buying an additional 195,978 shares during the period. BlackRock Inc. boosted its holdings in shares of Fiesta Restaurant Group by 3.1% in the second quarter. BlackRock Inc. now owns 3,605,741 shares of the restaurant operator’s stock valued at $47,378,000 after purchasing an additional 110,102 shares during the period. Finally, Martingale Asset Management L P purchased a new stake in shares of Fiesta Restaurant Group in the first quarter valued at approximately $1,323,000. Institutional investors and hedge funds own 94.10% 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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