ValuEngine Downgrades Fiesta Restaurant Group (NASDAQ:FRGI) to Strong Sell

Fiesta Restaurant Group (NASDAQ:FRGI) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday, ValuEngine reports.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Icon from a “hold” rating to a “buy” rating and set a $157.00 target price on the stock in a report on Thursday, May 30th. BidaskClub lowered shares of Waterstone Financial from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Fiesta Restaurant Group currently has an average rating of “Hold” and an average target price of $22.67.

FRGI opened at $11.48 on Friday. The stock has a 50-day moving average price of $13.34. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.38. Fiesta Restaurant Group has a twelve month low of $11.14 and a twelve month high of $30.88. The company has a market cap of $318.72 million, a price-to-earnings ratio of 19.13 and a beta of -0.05.



Fiesta Restaurant Group (NASDAQ:FRGI) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $163.15 million. During the same period in the previous year, the company posted $0.16 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that Fiesta Restaurant Group will post 0.63 EPS for the current fiscal year.

In related news, major shareholder Jefferies Financial Group Inc. acquired 3,817 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were purchased at an average price of $13.90 per share, with a total value of $53,056.30. Following the acquisition, the insider now directly owns 4,427,886 shares in the company, valued at $61,547,615.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have acquired 1,588,075 shares of company stock worth $21,794,537. Insiders own 1.40% of the company’s stock.

Large investors have recently modified their holdings of the business. Macquarie Group Ltd. grew its holdings in Fiesta Restaurant Group by 440.0% during the 4th quarter. Macquarie Group Ltd. now owns 2,700 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 2,200 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in Fiesta Restaurant Group by 386.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,434 shares of the restaurant operator’s stock worth $71,000 after acquiring an additional 4,317 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Fiesta Restaurant Group during the 4th quarter worth about $105,000. Metropolitan Life Insurance Co. NY grew its holdings in Fiesta Restaurant Group by 259.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,881 shares of the restaurant operator’s stock worth $107,000 after acquiring an additional 4,968 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Fiesta Restaurant Group during the 1st quarter worth about $106,000. 93.20% of the stock is currently 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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