Fiesta Restaurant Group Stock Price Down 3% on Insider Selling (FRGI)
Fiesta Restaurant Group (NASDAQ:FRGI) shares were down 3% on Thursday after an insider sold shares in the company, Stock Ratings Network reports. The stock traded as low as $41.70 and last traded at $42.18, with a volume of 227,717 shares trading hands. The stock had previously closed at $43.47.
Specifically, CEO Timothy P. Taft sold 22,000 shares of Fiesta Restaurant Group stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $43.06, for a total transaction of $947,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on FRGI shares. Analysts at Raymond James upgraded shares of Fiesta Restaurant Group from an “outperform” rating to a “strong-buy” rating in a research note on Friday, May 16th. They now have a $48.00 price target on the stock, down previously from $60.00. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Fiesta Restaurant Group in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $47.93.
The stock’s 50-day moving average is $38.84 and its 200-day moving average is $44.5. The company has a market cap of $1.108 billion and a price-to-earnings ratio of 81.25.
Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.03. The company had revenue of $145.40 million for the quarter, compared to the consensus estimate of $147.95 million. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts expect that Fiesta Restaurant Group will post $1.28 EPS for the current fiscal year.
Fiesta Restaurant Group, Inc (NASDAQ:FRGI) owns, operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana.
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