Fiesta Restaurant Group (FRGI) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Fiesta Restaurant Group (NASDAQ:FRGI) from a sell rating to a hold rating in a research report sent to investors on Monday.

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 brokerages have also recently weighed in on FRGI. BidaskClub upgraded shares of Fiesta Restaurant Group from a sell rating to a hold rating in a research note on Friday, November 23rd. ValuEngine upgraded shares of Fiesta Restaurant Group from a sell rating to a hold rating in a research note on Monday, January 7th. Stephens dropped their price target on shares of Fiesta Restaurant Group from $32.00 to $25.00 and set an overweight rating on the stock in a research note on Tuesday, February 26th. Finally, TheStreet cut shares of Fiesta Restaurant Group from a c- rating to a d rating in a research note on Monday, February 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Fiesta Restaurant Group has an average rating of Hold and an average target price of $27.00.

Shares of FRGI stock opened at $13.68 on Monday. Fiesta Restaurant Group has a 12-month low of $13.40 and a 12-month high of $30.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.95. The company has a market capitalization of $379.65 million, a P/E ratio of 23.23 and a beta of 0.25.

Fiesta Restaurant Group (NASDAQ:FRGI) last issued its earnings results on Monday, February 25th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Fiesta Restaurant Group had a net margin of 1.13% and a return on equity of 6.77%. The company had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $168.51 million. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts predict that Fiesta Restaurant Group will post 0.69 EPS for the current year.

In other news, CEO Richard C. Stockinger acquired 3,290 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average cost of $15.25 per share, for a total transaction of $50,172.50. Following the transaction, the chief executive officer now directly owns 88,190 shares of the company’s stock, valued at $1,344,897.50. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.70% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Fiesta Restaurant Group by 0.5% during the 4th quarter. Principal Financial Group Inc. now owns 190,310 shares of the restaurant operator’s stock valued at $2,952,000 after purchasing an additional 976 shares during the period. Arizona State Retirement System raised its position in shares of Fiesta Restaurant Group by 6.1% during the 4th quarter. Arizona State Retirement System now owns 36,099 shares of the restaurant operator’s stock valued at $560,000 after purchasing an additional 2,083 shares during the period. Macquarie Group Ltd. raised its position in shares of Fiesta Restaurant Group by 440.0% during the 4th quarter. Macquarie Group Ltd. now owns 2,700 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 2,200 shares during the period. Stone Ridge Asset Management LLC raised its position in shares of Fiesta Restaurant Group by 20.2% during the 4th quarter. Stone Ridge Asset Management LLC now owns 18,264 shares of the restaurant operator’s stock valued at $283,000 after purchasing an additional 3,074 shares during the period. Finally, New York State Teachers Retirement System raised its position in shares of Fiesta Restaurant Group by 18.1% during the 4th quarter. New York State Teachers Retirement System now owns 21,577 shares of the restaurant operator’s stock valued at $335,000 after purchasing an additional 3,300 shares during the period. Hedge funds and other institutional investors own 95.60% of the company’s stock.

Fiesta Restaurant Group Company Profile

Fiesta Restaurant Group, Inc engages in the acquisition, operation, and franchise of fast-casual restaurants. It operates through the following segments: Pollo Tropical, Taco Cabana, and Other. The Pollo Tropical segment offers a variety of Caribbean inspired food. The Taco Cabana segment serves a selection of Mexican inspired food.

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