Fiesta Restaurant Group (FRGI) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Fiesta Restaurant Group (NASDAQ:FRGI) from a hold rating to a sell rating in a report released on Tuesday.

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. “

A number of other equities analysts also recently issued reports on the company. Piper Jaffray Companies upgraded Fiesta Restaurant Group from an underweight rating to a neutral rating in a research report on Friday, October 5th. Wedbush restated an outperform rating and set a $28.00 price objective (down from $36.00) on shares of Fiesta Restaurant Group in a research report on Tuesday, November 6th. BidaskClub downgraded Fiesta Restaurant Group from a strong-buy rating to a buy rating in a research report on Wednesday, August 29th. Finally, ValuEngine downgraded Fiesta Restaurant Group from a buy rating to a hold rating in a research report on Thursday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $27.00.

Shares of FRGI opened at $18.42 on Tuesday. Fiesta Restaurant Group has a 1 year low of $16.40 and a 1 year high of $30.88. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 0.29. The stock has a market cap of $522.24 million, a PE ratio of 36.85 and a beta of 0.31.

Fiesta Restaurant Group (NASDAQ:FRGI) last issued its quarterly earnings data 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 company had revenue of $174.65 million for the quarter, compared to the consensus estimate of $173.40 million. During the same quarter last year, the business earned $0.06 earnings per share. Fiesta Restaurant Group’s revenue was up 10.1% compared to the same quarter last year. On average, research analysts anticipate that Fiesta Restaurant Group will post 0.6 EPS for the current fiscal year.

In other Fiesta Restaurant Group news, major shareholder Jefferies Financial Group Inc. bought 262,710 shares of the stock in a transaction on Thursday, November 8th. The stock was acquired at an average cost of $19.33 per share, for a total transaction of $5,078,184.30. Following the completion of the acquisition, the insider now owns 3,533,288 shares in the company, valued at approximately $68,298,457.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. BlueMountain Capital Management LLC bought a new stake in Fiesta Restaurant Group in the third quarter worth approximately $1,750,000. Paloma Partners Management Co bought a new stake in Fiesta Restaurant Group in the third quarter worth approximately $790,000. Jane Street Group LLC bought a new stake in Fiesta Restaurant Group in the third quarter worth approximately $412,000. Dynamic Technology Lab Private Ltd bought a new stake in Fiesta Restaurant Group in the third quarter worth approximately $1,172,000. Finally, Renaissance Technologies LLC bought a new stake in Fiesta Restaurant Group in the third quarter worth approximately $539,000. Institutional investors and hedge funds own 96.49% 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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