Fiesta Restaurant Group (FRGI) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Fiesta Restaurant Group (NASDAQ:FRGI) from a sell rating to a hold rating in a report released on Friday, Zacks.com reports.

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. “

Several other equities research analysts have also recently weighed in on FRGI. ValuEngine cut shares of Fiesta Restaurant Group from a hold rating to a sell rating in a research report on Monday, April 1st. Stephens cut their price objective on shares of Fiesta Restaurant Group from $32.00 to $25.00 and set an overweight rating for the company in a research report on Tuesday, February 26th. BidaskClub raised shares of Fiesta Restaurant Group from a strong sell rating to a sell rating in a research report on Friday, February 22nd. Finally, TheStreet cut shares of Fiesta Restaurant Group from a c- rating to a d rating in a research report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Fiesta Restaurant Group currently has a consensus rating of Hold and an average target price of $22.67.



FRGI opened at $13.61 on Friday. Fiesta Restaurant Group has a twelve month low of $12.27 and a twelve month high of $30.88. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.81 and a quick ratio of 0.89. The stock has a market cap of $360.45 million, a P/E ratio of 22.68 and a beta of 0.21.

Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings data on Monday, May 6th. The restaurant operator reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). Fiesta Restaurant Group had a return on equity of 6.55% and a net margin of 0.86%. The firm had revenue of $165.85 million for the quarter, compared to the consensus estimate of $163.15 million. During the same period in the prior year, the company earned $0.16 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, analysts anticipate that Fiesta Restaurant Group will post 0.65 EPS for the current fiscal year.

In other Fiesta Restaurant Group news, CEO Richard C. Stockinger bought 3,290 shares of the stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $15.25 per share, with a total value of $50,172.50. Following the completion of the purchase, the chief executive officer now owns 88,190 shares in the company, valued at $1,344,897.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Jefferies Financial Group Inc. bought 167,809 shares of the stock in a transaction on Thursday, May 9th. The shares were acquired at an average cost of $13.03 per share, with a total value of $2,186,551.27. Following the purchase, the insider now owns 3,954,430 shares of the company’s stock, valued at approximately $51,526,222.90. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 309,670 shares of company stock valued at $4,115,747. Insiders own 1.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC acquired a new position in Fiesta Restaurant Group during the third quarter worth about $539,000. Quantamental Technologies LLC acquired a new position in shares of Fiesta Restaurant Group in the fourth quarter valued at approximately $67,000. Millennium Management LLC increased its stake in shares of Fiesta Restaurant Group by 44.5% in the fourth quarter. Millennium Management LLC now owns 402,035 shares of the restaurant operator’s stock valued at $6,236,000 after buying an additional 123,769 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Fiesta Restaurant Group by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 279,229 shares of the restaurant operator’s stock valued at $4,330,000 after buying an additional 14,545 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Fiesta Restaurant Group by 6.1% in the fourth quarter. Arizona State Retirement System now owns 36,099 shares of the restaurant operator’s stock valued at $560,000 after buying an additional 2,083 shares during the period. 96.38% of the stock is owned by hedge funds and other institutional investors.

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 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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