Fiesta Restaurant Group (NASDAQ:FRGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Fiesta Restaurant Group, Inc. owns and operates quick-casual restaurants under the Pollo Tropical(R) and Taco Cabana(R) brand names in the United States. The Company’s Pollo Tropical restaurants offer a wide selection of tropical and Caribbean inspired food. The Taco Cabana restaurants offer a wide selection of fresh Tex-Mex and traditional Mexican food. Fiesta Restaurant Group, Inc. is headquartered in Miami, Florida. “
Several other research firms have also recently issued reports on FRGI. Wedbush upped their price target on Fiesta Restaurant Group from $29.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, July 2nd. BidaskClub raised Fiesta Restaurant Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 18th. ValuEngine cut Fiesta Restaurant Group from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Finally, TheStreet raised Fiesta Restaurant Group from a “d+” rating to a “c” rating in a report on Wednesday, May 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $29.67.
FRGI opened at $29.45 on Thursday. The company has a market capitalization of $804.35 million, a price-to-earnings ratio of 49.17 and a beta of 0.58. Fiesta Restaurant Group has a 1-year low of $15.60 and a 1-year high of $30.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.69.
Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings results on Monday, August 6th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The company had revenue of $176.83 million for the quarter, compared to analysts’ expectations of $173.21 million. Fiesta Restaurant Group had a positive return on equity of 5.35% and a negative net margin of 0.80%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. analysts predict that Fiesta Restaurant Group will post 0.72 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the business. Barclays PLC raised its stake in Fiesta Restaurant Group by 92.7% during the 1st quarter. Barclays PLC now owns 8,063 shares of the restaurant operator’s stock valued at $149,000 after purchasing an additional 3,879 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in Fiesta Restaurant Group during the 2nd quarter valued at $181,000. Engineers Gate Manager LP acquired a new stake in Fiesta Restaurant Group during the 2nd quarter valued at $200,000. SG Americas Securities LLC acquired a new stake in Fiesta Restaurant Group during the 2nd quarter valued at $212,000. Finally, Wedbush Securities Inc. acquired a new stake in Fiesta Restaurant Group during the 2nd quarter valued at $279,000. 99.11% of the stock is currently owned by institutional investors.
Fiesta Restaurant Group Company Profile
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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