Wedbush Reiterates Outperform Rating for Fiesta Restaurant Group (FRGI)

Wedbush reaffirmed their outperform rating on shares of Fiesta Restaurant Group (NASDAQ:FRGI) in a research report released on Tuesday morning, MarketBeat.com reports. Wedbush currently has a $28.00 target price on the restaurant operator’s stock, down from their previous target price of $36.00. Wedbush also issued estimates for Fiesta Restaurant Group’s Q4 2018 earnings at $0.09 EPS, FY2018 earnings at $0.61 EPS, Q1 2019 earnings at $0.17 EPS, Q2 2019 earnings at $0.35 EPS, Q3 2019 earnings at $0.14 EPS, Q4 2019 earnings at $0.13 EPS and FY2019 earnings at $0.79 EPS.

A number of other analysts have also recently weighed in on FRGI. Zacks Investment Research raised Fiesta Restaurant Group from a hold rating to a buy rating and set a $34.00 price objective for the company in a research report on Monday, July 9th. BidaskClub cut Fiesta Restaurant Group from a strong-buy rating to a buy rating in a research report on Wednesday, August 8th. ValuEngine cut Fiesta Restaurant Group from a buy rating to a hold rating in a research report on Thursday, August 9th. Finally, Piper Jaffray Companies raised Fiesta Restaurant Group from an underweight rating to a neutral rating in a research report on Friday, October 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $27.00.

Shares of Fiesta Restaurant Group stock traded down $0.08 during trading on Tuesday, reaching $19.92. The company’s stock had a trading volume of 4,389 shares, compared to its average volume of 237,397. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.90 and a quick ratio of 0.69. The stock has a market capitalization of $504.52 million, a price-to-earnings ratio of 33.02 and a beta of 0.44. Fiesta Restaurant Group has a 1-year low of $16.00 and a 1-year high of $30.88.

Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings data on Monday, November 5th. The restaurant operator reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.08). The business had revenue of $174.65 million during the quarter, compared to analyst estimates of $173.40 million. Fiesta Restaurant Group had a return on equity of 5.87% and a net margin of 0.73%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. On average, equities research analysts anticipate that Fiesta Restaurant Group will post 0.68 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC purchased a new position in Fiesta Restaurant Group in the 3rd quarter worth $581,000. First Mercantile Trust Co. raised its stake in Fiesta Restaurant Group by 23.6% in the 3rd quarter. First Mercantile Trust Co. now owns 18,354 shares of the restaurant operator’s stock worth $491,000 after acquiring an additional 3,504 shares during the last quarter. Prudential Financial Inc. raised its stake in Fiesta Restaurant Group by 23.1% in the 3rd quarter. Prudential Financial Inc. now owns 56,082 shares of the restaurant operator’s stock worth $1,500,000 after acquiring an additional 10,510 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Fiesta Restaurant Group in the 3rd quarter worth $136,000. Finally, Acadian Asset Management LLC purchased a new position in Fiesta Restaurant Group in the 3rd quarter worth $489,000.

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 citrus marinated, fire-grilled chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants provide Mexican inspired food made fresh by hand.

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