Fiesta Restaurant Group (NASDAQ:FRGI) Given New $14.00 Price Target at Stephens

Fiesta Restaurant Group (NASDAQ:FRGI) had its price target cut by Stephens from $25.00 to $14.00 in a research note published on Thursday, The Fly reports. They currently have an overweight rating on the restaurant operator’s stock.

Several other equities research analysts also recently issued reports on FRGI. Zacks Investment Research upgraded shares of Fiesta Restaurant Group from a sell rating to a hold rating in a research note on Thursday, May 30th. ValuEngine upgraded shares of Fiesta Restaurant Group from a strong sell rating to a sell rating in a research note on Thursday, August 1st. Finally, BidaskClub upgraded shares of Fiesta Restaurant Group from a strong sell rating to a sell rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $19.00.

FRGI traded up $0.83 during trading on Thursday, hitting $10.78. 565,625 shares of the company’s stock were exchanged, compared to its average volume of 241,208. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.38. Fiesta Restaurant Group has a 1 year low of $8.75 and a 1 year high of $30.35. The stock’s 50 day moving average is $11.52. The stock has a market capitalization of $295.93 million, a price-to-earnings ratio of 17.97 and a beta of -0.07.

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 the consensus estimate of $0.23 by ($0.02). Fiesta Restaurant Group had a return on equity of 6.55% and a net margin of 0.86%. The business had revenue of $171.40 million for the quarter, compared to analysts’ expectations of $172.73 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Fiesta Restaurant Group’s quarterly revenue was down 3.1% compared to the same quarter last year. Sell-side analysts forecast that Fiesta Restaurant Group will post 0.63 earnings per share for the current year.

In other news, major shareholder Jefferies Financial Group Inc. bought 138,571 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average cost of $13.56 per share, for a total transaction of $1,879,022.76. Following the completion of the purchase, the insider now owns 3,954,430 shares of the company’s stock, valued at $53,622,070.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought 1,420,266 shares of company stock valued at $19,607,986 over the last 90 days. Insiders own 1.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can raised its holdings in shares of Fiesta Restaurant Group by 135.0% during the second quarter. Bank of Montreal Can now owns 2,237 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 1,285 shares during the period. Glassman Wealth Services acquired a new stake in shares of Fiesta Restaurant Group during the second quarter worth $37,000. Macquarie Group Ltd. raised its holdings 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 purchasing an additional 2,200 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Fiesta Restaurant Group by 386.5% during the first quarter. BNP Paribas Arbitrage SA now owns 5,434 shares of the restaurant operator’s stock worth $71,000 after purchasing an additional 4,317 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Fiesta Restaurant Group during the fourth quarter worth $105,000. Institutional investors and hedge funds own 93.17% 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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