Fiesta Restaurant Group (NASDAQ:FRGI) Lifted to Sell at BidaskClub

BidaskClub upgraded shares of Fiesta Restaurant Group (NASDAQ:FRGI) from a strong sell rating to a sell rating in a research note released on Thursday morning, BidAskClub reports.

A number of other brokerages have also weighed in on FRGI. Stephens dropped their price objective on shares of Fiesta Restaurant Group from $25.00 to $14.00 and set an overweight rating on the stock in a report on Thursday, August 8th. Zacks Investment Research lowered shares of Fiesta Restaurant Group from a hold rating to a sell rating in a report on Saturday, August 10th. Finally, ValuEngine raised shares of Fiesta Restaurant Group from a sell rating to a hold rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Fiesta Restaurant Group currently has a consensus rating of Hold and a consensus price target of $19.00.

Shares of FRGI stock traded up $0.13 during trading hours on Thursday, reaching $10.45. 256,788 shares of the company’s stock were exchanged, compared to its average volume of 244,656. The stock’s 50 day moving average is $9.72 and its 200-day moving average is $12.40. The company has a market cap of $268.18 million, a price-to-earnings ratio of 17.42 and a beta of -0.09. The company has a current ratio of 0.52, a quick ratio of 0.47 and a debt-to-equity ratio of 1.55. Fiesta Restaurant Group has a fifty-two week low of $8.23 and a fifty-two week high of $30.11.

Fiesta Restaurant Group (NASDAQ:FRGI) last issued its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $171.40 million for the quarter, compared to analyst estimates of $172.73 million. Fiesta Restaurant Group had a positive return on equity of 6.32% and a negative net margin of 6.92%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. Equities analysts anticipate that Fiesta Restaurant Group will post 0.59 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Fiesta Restaurant Group by 45.6% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,025 shares of the restaurant operator’s stock valued at $263,000 after buying an additional 6,275 shares during the last quarter. Equitable Trust Co. grew its holdings in shares of Fiesta Restaurant Group by 54.4% during the second quarter. Equitable Trust Co. now owns 78,217 shares of the restaurant operator’s stock valued at $1,028,000 after buying an additional 27,547 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Fiesta Restaurant Group by 35.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 750,558 shares of the restaurant operator’s stock valued at $9,863,000 after buying an additional 195,978 shares during the last quarter. Morgan Stanley grew its holdings in shares of Fiesta Restaurant Group by 605.9% during the second quarter. Morgan Stanley now owns 106,024 shares of the restaurant operator’s stock valued at $1,393,000 after buying an additional 91,004 shares during the last quarter. Finally, Private Capital Management LLC grew its holdings in shares of Fiesta Restaurant Group by 52.4% during the second quarter. Private Capital Management LLC now owns 1,510,790 shares of the restaurant operator’s stock valued at $19,852,000 after buying an additional 519,316 shares during the last quarter. 94.10% of the stock is currently owned by hedge funds and other 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 fire-grilled and citrus marinated chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants that provide Mexican inspired food made fresh by hand.

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