Fiesta Restaurant Group Inc. (FRGI) Shares Down 2.9%
Fiesta Restaurant Group Inc. (NASDAQ:FRGI)’s share price was down 2.9% during mid-day trading on Tuesday . The stock traded as low as $25.22 and last traded at $25.27, with a volume of 277,207 shares trading hands. The stock had previously closed at $26.02.
Several equities analysts recently issued reports on FRGI shares. Standpoint Research started coverage on Fiesta Restaurant Group in a research report on Thursday, July 7th. They issued a “buy” rating and a $36.00 price objective on the stock. Zacks Investment Research upgraded shares of Fiesta Restaurant Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Jefferies Group lowered shares of Fiesta Restaurant Group from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research note on Tuesday, July 26th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $23.00 target price (down from $36.00) on shares of Fiesta Restaurant Group in a research note on Thursday, August 4th. Finally, Wedbush reiterated an “outperform” rating and set a $32.00 target price (down from $47.00) on shares of Fiesta Restaurant Group in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Fiesta Restaurant Group presently has an average rating of “Hold” and a consensus target price of $35.19.
The company has a market capitalization of $673.31 million, a PE ratio of 19.03 and a beta of 1.18. The company has a 50 day moving average of $24.12 and a 200-day moving average of $27.34.
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Fiesta Restaurant Group (NASDAQ:FRGI) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The business had revenue of $181.50 million for the quarter, compared to analysts’ expectations of $183.55 million. Fiesta Restaurant Group had a net margin of 5.01% and a return on equity of 15.37%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 earnings per share. Equities research analysts anticipate that Fiesta Restaurant Group Inc. will post $1.32 earnings per share for the current fiscal year.
In related news, insider John Alan Todd, Jr. sold 2,178 shares of Fiesta Restaurant Group stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $23.41, for a total transaction of $50,986.98. Following the transaction, the insider now directly owns 16,120 shares of the company’s stock, valued at $377,369.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its position in shares of Fiesta Restaurant Group by 47.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,153 shares of the company’s stock valued at $103,000 after buying an additional 1,017 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Fiesta Restaurant Group during the second quarter valued at $181,000. Stevens Capital Management LP purchased a new stake in shares of Fiesta Restaurant Group during the second quarter valued at $213,000. Pacad Investment Ltd. purchased a new stake in shares of Fiesta Restaurant Group during the second quarter valued at $254,000. Finally, BlackRock Advisors LLC increased its stake in shares of Fiesta Restaurant Group by 4.6% in the second quarter. BlackRock Advisors LLC now owns 13,078 shares of the company’s stock valued at $285,000 after buying an additional 576 shares during the period. 96.72% of the stock is currently owned by institutional investors.
Fiesta Restaurant Group Company Profile
Fiesta Restaurant Group, Inc (Fiesta) owns, operates and franchises approximately two fast-casual restaurant brands, Pollo Tropical and Taco Cabana. The Company operates through the Pollo Tropical and Taco Cabana segments. Its Pollo Tropical is a fast-casual restaurant brand offering a range of Caribbean food.
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