Fiesta Restaurant Group (NASDAQ:FRGI) Downgraded by BidaskClub

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Fiesta Restaurant Group (NASDAQ:FRGI) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday, BidAskClub reports.

Several other research firms have also weighed in on FRGI. ValuEngine upgraded Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research upgraded Icon from a “hold” rating to a “buy” rating and set a $157.00 price target on the stock in a report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Fiesta Restaurant Group has a consensus rating of “Hold” and an average price target of $22.67.

NASDAQ:FRGI opened at $11.48 on Friday. The firm’s fifty day moving average is $13.34. Fiesta Restaurant Group has a fifty-two week low of $11.14 and a fifty-two week high of $30.88. The stock has a market cap of $315.15 million, a price-to-earnings ratio of 19.46 and a beta of -0.05. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.38.

Fiesta Restaurant Group (NASDAQ:FRGI) last released its quarterly earnings results on Monday, May 6th. The restaurant operator reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). Fiesta Restaurant Group had a net margin of 0.86% and a return on equity of 6.55%. The company had revenue of $165.85 million for the quarter, compared to analysts’ expectations of $163.15 million. During the same quarter in the previous year, the company posted $0.16 EPS. The business’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, analysts anticipate that Fiesta Restaurant Group will post 0.63 earnings per share for the current fiscal year.

In related news, major shareholder Jefferies Financial Group Inc. purchased 138,571 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $13.56 per share, for a total transaction of $1,879,022.76. Following the acquisition, the insider now owns 3,954,430 shares of the company’s stock, valued at approximately $53,622,070.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased a total of 1,588,075 shares of company stock worth $21,794,537 in the last 90 days. 1.40% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in Fiesta Restaurant Group by 0.5% in the fourth quarter. Principal Financial Group Inc. now owns 190,310 shares of the restaurant operator’s stock worth $2,952,000 after purchasing an additional 976 shares during the period. Macquarie Group Ltd. increased its stake in Fiesta Restaurant Group by 440.0% in the fourth quarter. Macquarie Group Ltd. now owns 2,700 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 2,200 shares during the period. Laurion Capital Management LP increased its stake in Fiesta Restaurant Group by 14.9% in the first quarter. Laurion Capital Management LP now owns 20,798 shares of the restaurant operator’s stock worth $273,000 after purchasing an additional 2,692 shares during the period. Stone Ridge Asset Management LLC increased its stake in Fiesta Restaurant Group by 20.2% in the fourth quarter. Stone Ridge Asset Management LLC now owns 18,264 shares of the restaurant operator’s stock worth $283,000 after purchasing an additional 3,074 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Fiesta Restaurant Group by 386.5% in the first quarter. BNP Paribas Arbitrage SA now owns 5,434 shares of the restaurant operator’s stock worth $71,000 after purchasing an additional 4,317 shares during the period. Institutional investors own 93.20% of the company’s stock.

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 fire-grilled and citrus marinated chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants that provide Mexican inspired food made fresh by hand.

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