BidaskClub Downgrades Fiesta Restaurant Group (NASDAQ:FRGI) to Strong Sell

BidaskClub downgraded shares of Fiesta Restaurant Group (NASDAQ:FRGI) from a sell rating to a strong sell rating in a research report report published on Friday, BidAskClub reports.

Several other equities analysts have also weighed in on FRGI. Zacks Investment Research upgraded shares of Icon from a hold rating to a buy rating and set a $157.00 price objective for the company in a research report on Thursday, May 30th. ValuEngine upgraded shares of Valmont Industries from a sell rating to a hold rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $22.67.

Shares of FRGI opened at $11.32 on Friday. The firm has a 50-day moving average of $13.20. The company has a market cap of $312.11 million, a price-to-earnings ratio of 18.87 and a beta of -0.05. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.38. Fiesta Restaurant Group has a 52-week low of $11.14 and a 52-week high of $30.88.

Fiesta Restaurant Group (NASDAQ:FRGI) last announced its earnings results on Monday, May 6th. The restaurant operator reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). The company had revenue of $165.85 million during the quarter, compared to the consensus estimate of $163.15 million. Fiesta Restaurant Group had a net margin of 0.86% and a return on equity of 6.55%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. As a group, research analysts anticipate that Fiesta Restaurant Group will post 0.63 earnings per share for the current fiscal year.

In other news, major shareholder Jefferies Financial Group Inc. acquired 138,571 shares of Fiesta Restaurant Group stock in a transaction on Monday, May 13th. The stock was bought at an average cost of $13.56 per share, with a total value 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have bought 1,588,075 shares of company stock valued at $21,794,537. Insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund acquired a new stake in shares of Fiesta Restaurant Group in the fourth quarter worth $138,000. BlackRock Inc. grew its stake in shares of Fiesta Restaurant Group by 1.3% in the fourth quarter. BlackRock Inc. now owns 3,449,038 shares of the restaurant operator’s stock worth $53,494,000 after acquiring an additional 44,792 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Fiesta Restaurant Group by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 279,229 shares of the restaurant operator’s stock worth $4,330,000 after purchasing an additional 14,545 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in Fiesta Restaurant Group in the fourth quarter worth $219,000. Finally, Citigroup Inc. lifted its position in Fiesta Restaurant Group by 277.9% in the fourth quarter. Citigroup Inc. now owns 24,486 shares of the restaurant operator’s stock worth $380,000 after purchasing an additional 18,007 shares during the period. 93.20% of the stock is owned by institutional investors and hedge funds.

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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