Fiesta Restaurant Group’s (FRGI) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Fiesta Restaurant Group (NASDAQ:FRGI) in a research note issued to investors on Tuesday morning, MarketBeat reports. Wedbush currently has a $28.00 price objective on the restaurant operator’s stock, down from their prior price objective of $36.00. Wedbush also issued estimates for Fiesta Restaurant Group’s Q4 2018 earnings at $0.09 EPS, FY2018 earnings at $0.61 EPS, Q1 2019 earnings at $0.17 EPS, Q2 2019 earnings at $0.35 EPS, Q3 2019 earnings at $0.14 EPS, Q4 2019 earnings at $0.13 EPS and FY2019 earnings at $0.79 EPS.

Other analysts also recently issued reports about the company. Zacks Investment Research raised Fiesta Restaurant Group from a hold rating to a buy rating and set a $31.00 target price for the company in a research report on Wednesday, August 8th. BidaskClub downgraded Fiesta Restaurant Group from a strong-buy rating to a buy rating in a research report on Wednesday, August 8th. ValuEngine downgraded Fiesta Restaurant Group from a buy rating to a hold rating in a research report on Thursday, August 9th. Finally, Piper Jaffray Companies raised Fiesta Restaurant Group from an underweight rating to a neutral rating in a research report on Friday, October 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Fiesta Restaurant Group currently has a consensus rating of Hold and a consensus price target of $27.00.

NASDAQ:FRGI traded up $0.05 during trading hours on Tuesday, reaching $20.05. The stock had a trading volume of 335,288 shares, compared to its average volume of 274,143. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.90 and a quick ratio of 0.69. Fiesta Restaurant Group has a 12-month low of $16.35 and a 12-month high of $30.88. The company has a market capitalization of $536.69 million, a P/E ratio of 33.42 and a beta of 0.44.

Fiesta Restaurant Group (NASDAQ:FRGI) last released its earnings results on Monday, November 5th. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.08). Fiesta Restaurant Group had a return on equity of 5.87% and a net margin of 0.73%. The firm had revenue of $174.65 million during the quarter, compared to analysts’ expectations of $173.40 million. During the same period in the prior year, the business earned $0.06 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, analysts anticipate that Fiesta Restaurant Group will post 0.64 earnings per share for the current year.

In related news, major shareholder Jefferies Financial Group Inc. purchased 262,710 shares of Fiesta Restaurant Group stock in a transaction dated Thursday, November 8th. The stock was bought at an average cost of $19.33 per share, for a total transaction of $5,078,184.30. Following the completion of the transaction, the insider now owns 3,533,288 shares in the company, valued at $68,298,457.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hood River Capital Management LLC bought a new stake in Fiesta Restaurant Group during the second quarter worth about $20,685,000. Columbus Circle Investors purchased a new position in shares of Fiesta Restaurant Group in the second quarter worth about $8,825,000. BlackRock Inc. increased its holdings in shares of Fiesta Restaurant Group by 3.6% in the second quarter. BlackRock Inc. now owns 3,611,416 shares of the restaurant operator’s stock worth $103,649,000 after buying an additional 124,428 shares during the period. EAM Investors LLC purchased a new position in shares of Fiesta Restaurant Group in the second quarter worth about $3,362,000. Finally, Millennium Management LLC purchased a new position in shares of Fiesta Restaurant Group in the second quarter worth about $2,496,000.

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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