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Fiesta Restaurant Group (NASDAQ:FRGI) was upgraded by equities research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $48.00 price target on the stock, down from their previous price target of $60.00. Raymond James’ price target indicates a potential upside of 18.96% from the company’s current price.

Shares of Fiesta Restaurant Group (NASDAQ:FRGI) traded up 4.02% on Tuesday, hitting $40.35. 532,137 shares of the company’s stock traded hands. Fiesta Restaurant Group has a 1-year low of $24.54 and a 1-year high of $53.08. The stock’s 50-day moving average is $44.79 and its 200-day moving average is $45.43. The company has a market cap of $1.052 billion and a price-to-earnings ratio of 100.49.

Fiesta Restaurant Group (NASDAQ:FRGI) last released its earnings data on Tuesday, February 25th. 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. Analysts expect that Fiesta Restaurant Group will post $1.25 EPS for the current fiscal year.

Separately, analysts at Zacks downgraded shares of Fiesta Restaurant Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 27th. They now have a $51.70 price target on the stock. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $48.74.

Fiesta Restaurant Group, Inc (NASDAQ:FRGI) owns, operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana.

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