Fiesta Restaurant Group (FRGI) Lifted to Strong-Buy at BidaskClub

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BidaskClub upgraded shares of Fiesta Restaurant Group (NASDAQ:FRGI) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Fiesta Restaurant Group from a hold rating to a buy rating and set a $31.00 target price on the stock in a report on Wednesday, August 8th. ValuEngine raised Fiesta Restaurant Group from a hold rating to a buy rating in a report on Tuesday, June 26th. Wedbush raised their target price on Fiesta Restaurant Group from $29.00 to $33.00 and gave the stock an outperform rating in a report on Monday, July 2nd. TheStreet raised Fiesta Restaurant Group from a d+ rating to a c rating in a report on Wednesday, May 9th. Finally, Stephens raised Fiesta Restaurant Group from an equal weight rating to an overweight rating and set a $25.00 target price on the stock in a report on Tuesday, May 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $25.75.

Shares of Fiesta Restaurant Group stock opened at $29.40 on Friday. Fiesta Restaurant Group has a one year low of $15.50 and a one year high of $30.88. The firm has a market capitalization of $774.35 million, a P/E ratio of 48.83 and a beta of 0.54. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 0.30.

Fiesta Restaurant Group (NASDAQ:FRGI) last announced its earnings results on Monday, August 6th. The restaurant operator reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. Fiesta Restaurant Group had a positive return on equity of 5.35% and a negative net margin of 0.80%. The company had revenue of $176.83 million for the quarter, compared to analysts’ expectations of $173.21 million. During the same period last year, the firm earned $0.30 EPS. Fiesta Restaurant Group’s revenue for the quarter was up 2.4% compared to the same quarter last year. analysts forecast that Fiesta Restaurant Group will post 0.72 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Hood River Capital Management LLC bought a new stake in Fiesta Restaurant Group during the second quarter valued at about $20,685,000. Oaktree Capital Management LP raised its holdings in Fiesta Restaurant Group by 39.5% during the first quarter. Oaktree Capital Management LP now owns 1,325,000 shares of the restaurant operator’s stock valued at $24,512,000 after acquiring an additional 375,000 shares during the period. Columbus Circle Investors bought a new stake in Fiesta Restaurant Group during the second quarter valued at about $8,825,000. Heartland Advisors Inc. bought a new stake in Fiesta Restaurant Group during the first quarter valued at about $2,313,000. Finally, BlackRock Inc. raised its holdings in Fiesta Restaurant Group by 3.6% during the second quarter. BlackRock Inc. now owns 3,611,416 shares of the restaurant operator’s stock valued at $103,649,000 after acquiring an additional 124,428 shares during the period. 99.11% of the stock is currently owned by institutional investors.

About Fiesta Restaurant Group

Fiesta Restaurant Group, Inc, through its subsidiaries, owns, operates, and franchises fast-casual restaurants. It operates its fast-casual restaurants under the Pollo Tropical and Taco Cabana brands. The company's Pollo Tropical restaurants offer citrus marinated, fire-grilled chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants provide Mexican inspired food made fresh by hand.

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