Longbow Research Initiates Coverage on Fiesta Restaurant Group (FRGI)
Analysts at Longbow Research began coverage on shares of Fiesta Restaurant Group (NASDAQ:FRGI) in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $57.00 price target on the stock. Longbow Research’s target price would suggest a potential upside of 24.21% from the stock’s previous close.
Shares of Fiesta Restaurant Group (NASDAQ:FRGI) traded down 0.26% during mid-day trading on Thursday, hitting $45.77. 38,949 shares of the company’s stock traded hands. Fiesta Restaurant Group has a 52-week low of $30.53 and a 52-week high of $53.08. The stock’s 50-day moving average is $40.78 and its 200-day moving average is $44.23. The company has a market cap of $1.201 billion and a P/E ratio of 85.78.
Fiesta Restaurant Group (NASDAQ:FRGI) last released its earnings data 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. Fiesta Restaurant Group’s revenue was up 8.8% compared to the same quarter last year. Analysts expect that Fiesta Restaurant Group will post $1.28 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. 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 equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $49.74.
Fiesta Restaurant Group, Inc (NASDAQ:FRGI) owns, operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana.
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