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

Fiesta Restaurant Group (NASDAQ:FRGI) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday, BidAskClub reports.

FRGI has been the subject of several other reports. Zacks Investment Research raised Icon from a “hold” rating to a “buy” rating and set a $157.00 price objective for the company in a research note on Thursday, May 30th. ValuEngine raised Valmont Industries from a “sell” rating to a “hold” rating in a research note on Friday. 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 stock. Fiesta Restaurant Group currently has an average rating of “Hold” and an average price target of $22.67.

NASDAQ FRGI opened at $11.48 on Friday. Fiesta Restaurant Group has a 1-year low of $11.14 and a 1-year high of $30.88. The stock has a market cap of $315.15 million, a P/E ratio of 19.46 and a beta of -0.05. The company has a 50 day moving average price of $13.34. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.38.

Fiesta Restaurant Group (NASDAQ:FRGI) last released its quarterly earnings data on Monday, May 6th. The restaurant operator reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). Fiesta Restaurant Group had a net margin of 0.86% and a return on equity of 6.55%. The firm had revenue of $165.85 million during the quarter, compared to analysts’ expectations of $163.15 million. During the same period in the previous year, the business earned $0.16 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities research analysts anticipate that Fiesta Restaurant Group will post 0.63 earnings per share for the current year.

In related news, major shareholder Jefferies Financial Group Inc. bought 138,571 shares of the stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $13.56 per share, for a total transaction of $1,879,022.76. Following the acquisition, the insider now owns 3,954,430 shares in the company, valued at $53,622,070.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 1,588,075 shares of company stock valued at $21,794,537 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund purchased a new stake in shares of Fiesta Restaurant Group during the 4th quarter valued at about $138,000. BlackRock Inc. increased its position in shares of Fiesta Restaurant Group by 1.3% during the 4th quarter. BlackRock Inc. now owns 3,449,038 shares of the restaurant operator’s stock valued at $53,494,000 after purchasing an additional 44,792 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Fiesta Restaurant Group by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 279,229 shares of the restaurant operator’s stock valued at $4,330,000 after purchasing an additional 14,545 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Fiesta Restaurant Group during the 4th quarter valued at about $219,000. Finally, Citigroup Inc. increased its position in shares of Fiesta Restaurant Group by 277.9% during the 4th quarter. Citigroup Inc. now owns 24,486 shares of the restaurant operator’s stock valued at $380,000 after purchasing an additional 18,007 shares during the last quarter. Hedge funds and other institutional investors own 93.20% of the company’s stock.

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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