BidaskClub Lowers Fiesta Restaurant Group (FRGI) to Sell

Fiesta Restaurant Group (NASDAQ:FRGI) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

FRGI has been the topic of a number of other reports. Wedbush reiterated an “outperform” rating and issued a $24.00 price objective (up from $19.00) on shares of Fiesta Restaurant Group in a research note on Friday, December 8th. Zacks Investment Research upgraded Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $22.60.

Fiesta Restaurant Group (FRGI) traded down $0.45 during trading on Friday, hitting $18.35. The stock had a trading volume of 219,551 shares, compared to its average volume of 195,736. The company has a quick ratio of 0.49, a current ratio of 0.53 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $509.24, a price-to-earnings ratio of -21.34, a PEG ratio of 1.83 and a beta of 0.62. Fiesta Restaurant Group has a twelve month low of $15.50 and a twelve month high of $28.85.

Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings data on Monday, November 6th. The restaurant operator reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.19). The business had revenue of $158.70 million during the quarter, compared to the consensus estimate of $162.05 million. Fiesta Restaurant Group had a positive return on equity of 9.49% and a negative net margin of 3.40%. The company’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. analysts predict that Fiesta Restaurant Group will post 0.73 earnings per share for the current year.

In other news, insider Charles Locke purchased 1,565 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were purchased at an average cost of $18.73 per share, for a total transaction of $29,312.45. Following the completion of the purchase, the insider now directly owns 1,565 shares of the company’s stock, valued at approximately $29,312.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of FRGI. Municipal Employees Retirement System of Michigan increased its stake in Fiesta Restaurant Group by 59.7% during the third quarter. Municipal Employees Retirement System of Michigan now owns 10,160 shares of the restaurant operator’s stock valued at $193,000 after acquiring an additional 3,800 shares during the period. Cubist Systematic Strategies LLC bought a new position in Fiesta Restaurant Group during the second quarter valued at about $217,000. BNP Paribas Arbitrage SA increased its stake in Fiesta Restaurant Group by 37.9% during the third quarter. BNP Paribas Arbitrage SA now owns 14,096 shares of the restaurant operator’s stock valued at $268,000 after acquiring an additional 3,871 shares during the period. Voya Investment Management LLC increased its stake in Fiesta Restaurant Group by 12.1% during the second quarter. Voya Investment Management LLC now owns 13,014 shares of the restaurant operator’s stock valued at $269,000 after acquiring an additional 1,402 shares during the period. Finally, Boothbay Fund Management LLC bought a new position in Fiesta Restaurant Group during the third quarter valued at about $270,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

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Fiesta Restaurant Group Company Profile

Fiesta Restaurant Group, Inc owns, operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana through its subsidiaries Pollo Operations, Inc, and its subsidiaries, and Pollo Franchise, Inc, (collectively Pollo Tropical) and Taco Cabana, Inc and its subsidiaries (collectively Taco Cabana).

Analyst Recommendations for Fiesta Restaurant Group (NASDAQ:FRGI)

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