ValuEngine Upgrades Del Frisco’s Restaurant Group (DFRG) to “Buy”

Del Frisco’s Restaurant Group (NASDAQ:DFRG) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Del Frisco’s Restaurant Group from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research report on Tuesday, April 16th. BidaskClub downgraded shares of Del Frisco’s Restaurant Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Del Frisco’s Restaurant Group in a research report on Friday, February 15th. They set a “neutral” rating and a $9.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $9.70.

Shares of DFRG stock opened at $6.90 on Thursday. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.43 and a quick ratio of 0.21. The company has a market cap of $208.18 million, a price-to-earnings ratio of -38.33 and a beta of 0.80. Del Frisco’s Restaurant Group has a 12-month low of $4.61 and a 12-month high of $14.10.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last issued its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. The firm had revenue of $120.38 million during the quarter, compared to the consensus estimate of $121.65 million. Del Frisco’s Restaurant Group had a negative net margin of 21.62% and a negative return on equity of 1.15%. On average, sell-side analysts anticipate that Del Frisco’s Restaurant Group will post -0.24 EPS for the current fiscal year.

In other Del Frisco’s Restaurant Group news, major shareholder Armistice Capital Master Fund purchased 571,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of $7.26 per share, for a total transaction of $4,145,460.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Armistice Capital, Llc purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was acquired at an average price of $8.01 per share, with a total value of $400,500.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 2,041,000 shares of company stock valued at $13,573,710. 2.00% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of Del Frisco’s Restaurant Group by 68.4% in the third quarter. Legal & General Group Plc now owns 4,974 shares of the restaurant operator’s stock valued at $41,000 after buying an additional 2,020 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Del Frisco’s Restaurant Group by 398.3% in the first quarter. BNP Paribas Arbitrage SA now owns 6,917 shares of the restaurant operator’s stock valued at $44,000 after acquiring an additional 5,529 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Del Frisco’s Restaurant Group by 257.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,212 shares of the restaurant operator’s stock valued at $66,000 after acquiring an additional 6,632 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Del Frisco’s Restaurant Group in the fourth quarter valued at approximately $82,000. Finally, Menta Capital LLC bought a new position in Del Frisco’s Restaurant Group in the fourth quarter valued at approximately $98,000. Institutional investors own 94.98% of the company’s stock.

Del Frisco’s Restaurant Group Company Profile

Del Frisco's Restaurant Group, Inc develops, owns, and operates restaurants in the United States. It owns and operates restaurants under the Del Frisco's Double Eagle Steak House, Del Frisco's Grille, Barcelona Wine Bar, and bartaco brand names. The company offers steaks, as well as other menu selections, such as chops, fresh seafood, tapas, street food, and wines and cocktails.

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