Fiesta Restaurant Group Shares Up 5% Following Better-Than-Expected Earnings (FRGI)
Fiesta Restaurant Group (NASDAQ:FRGI)’s share price shot up 5% on Wednesday following a stronger than expected earnings report, American Banking News.com reports. The stock traded as high as $52.07 and last traded at $50.53, with a volume of 703,529 shares. The stock had previously closed at $48.12.
The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $138.20 million for the quarter, compared to the consensus estimate of $137.43 million.
A number of research firms have recently commented on FRGI. Analysts at Raymond James cut their price target on shares of Fiesta Restaurant Group from $62.50 to $60.00 in a research note on Wednesday. Separately, analysts at Zacks upgraded shares of Fiesta Restaurant Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, December 31st. They now have a $54.50 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Fiesta Restaurant Group from $45.00 to $57.00 in a research note on Thursday, December 19th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $51.70.
The stock’s 50-day moving average is $45.68 and its 200-day moving average is $42.37. The company has a market cap of $1.163 billion and a price-to-earnings ratio of 65.65.
Fiesta Restaurant Group, Inc (NASDAQ:FRGI) owns, operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana.
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