Fiesta Restaurant Group Inc (NASDAQ:FRGI) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $22.60.
Several equities research analysts recently commented on FRGI shares. Wedbush reissued a “buy” rating and set a $24.00 price objective on shares of Fiesta Restaurant Group in a research note on Tuesday, February 27th. Zacks Investment Research lowered shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. BidaskClub raised shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, ValuEngine raised shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Saturday, March 10th.
NASDAQ:FRGI opened at $19.45 on Thursday. Fiesta Restaurant Group has a one year low of $15.50 and a one year high of $25.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.64 and a current ratio of 0.69. The stock has a market cap of $527.34, a P/E ratio of 32.42, a price-to-earnings-growth ratio of 2.47 and a beta of 0.54.
Fiesta Restaurant Group declared that its Board of Directors has initiated a stock repurchase program on Monday, February 26th that permits the company to repurchase 1,500,000 outstanding shares. This repurchase authorization permits the restaurant operator to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other news, major shareholder National Corp Leucadia bought 176,814 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were purchased at an average price of $16.59 per share, for a total transaction of $2,933,344.26. Following the completion of the purchase, the insider now owns 3,075,383 shares in the company, valued at approximately $51,020,603.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jack A. Smith bought 3,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average price of $17.04 per share, for a total transaction of $51,120.00. Following the purchase, the director now owns 52,041 shares of the company’s stock, valued at approximately $886,778.64. The disclosure for this purchase can be found here. In the last quarter, insiders bought 186,814 shares of company stock worth $3,113,194 and sold 941 shares worth $17,673. Corporate insiders own 2.20% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. bought a new position in Fiesta Restaurant Group during the fourth quarter valued at approximately $186,000. Municipal Employees Retirement System of Michigan lifted its position in Fiesta Restaurant Group by 59.7% during the third quarter. Municipal Employees Retirement System of Michigan now owns 10,160 shares of the restaurant operator’s stock valued at $193,000 after purchasing an additional 3,800 shares during the period. Virtu Financial LLC bought a new position in Fiesta Restaurant Group during the fourth quarter valued at approximately $205,000. MetLife Investment Advisors LLC bought a new position in Fiesta Restaurant Group during the fourth quarter valued at approximately $254,000. Finally, BNP Paribas Arbitrage SA lifted its position in Fiesta Restaurant Group by 37.9% during the third quarter. BNP Paribas Arbitrage SA now owns 14,096 shares of the restaurant operator’s stock valued at $268,000 after purchasing an additional 3,871 shares during the period. Institutional investors own 98.29% 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 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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