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

Fiesta Restaurant Group (NASDAQ:FRGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, August 7th.

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. “

Other equities research analysts also recently issued research reports about the stock. ValuEngine raised shares of Fiesta Restaurant Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. BidaskClub raised shares of Fiesta Restaurant Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. TheStreet raised shares of Fiesta Restaurant Group from a “d+” rating to a “c” rating in a research note on Wednesday, May 9th. Wedbush raised their price target on shares of Fiesta Restaurant Group from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, July 2nd. Finally, Stephens raised shares of Fiesta Restaurant Group from an “equal weight” rating to an “overweight” rating and set a $25.00 price target on the stock in a research note on Tuesday, May 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.75.

Shares of FRGI traded up $0.25 during midday trading on Tuesday, hitting $28.75. The stock had a trading volume of 115,400 shares, compared to its average volume of 265,308. Fiesta Restaurant Group has a 1 year low of $15.50 and a 1 year high of $30.88. The company has a market cap of $768.90 million, a P/E ratio of 47.75 and a beta of 0.54. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 0.30.

Fiesta Restaurant Group (NASDAQ:FRGI) last announced its earnings results on Monday, August 6th. The restaurant operator reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. Fiesta Restaurant Group had a negative net margin of 0.80% and a positive return on equity of 5.35%. The business had revenue of $176.83 million for the quarter, compared to the consensus estimate of $173.21 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. analysts predict that Fiesta Restaurant Group will post 0.72 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of FRGI. Renaissance Technologies LLC increased its stake in Fiesta Restaurant Group by 79.0% in the 4th quarter. Renaissance Technologies LLC now owns 50,966 shares of the restaurant operator’s stock worth $968,000 after buying an additional 22,500 shares during the period. Deutsche Bank AG increased its stake in Fiesta Restaurant Group by 129.0% in the 4th quarter. Deutsche Bank AG now owns 108,582 shares of the restaurant operator’s stock worth $2,061,000 after buying an additional 61,163 shares during the period. Ladenburg Thalmann Financial Services Inc. purchased a new position in Fiesta Restaurant Group in the 4th quarter worth about $186,000. MetLife Investment Advisors LLC purchased a new position in Fiesta Restaurant Group during the 4th quarter valued at about $254,000. Finally, Wells Fargo & Company MN increased its position in Fiesta Restaurant Group by 30.9% during the 1st quarter. Wells Fargo & Company MN now owns 46,041 shares of the restaurant operator’s stock valued at $852,000 after purchasing an additional 10,860 shares during the period. 99.11% of the stock is currently owned by institutional investors.

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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