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. “
A number of other brokerages also recently issued reports on FRGI. Piper Jaffray Cos. reaffirmed an overweight rating and set a $23.00 price target (down from $36.00) on shares of Fiesta Restaurant Group in a report on Thursday, August 4th. Jefferies Group downgraded Fiesta Restaurant Group from a buy rating to a hold rating and set a $27.00 target price on the stock. in a report on Tuesday, July 26th. Wedbush reissued an outperform rating and issued a $32.00 target price (down previously from $47.00) on shares of Fiesta Restaurant Group in a report on Thursday, August 4th. Standpoint Research initiated coverage on Fiesta Restaurant Group in a report on Thursday, July 7th. They issued a buy rating and a $36.00 target price on the stock. Finally, Canaccord Genuity initiated coverage on Fiesta Restaurant Group in a report on Monday, August 22nd. They issued a hold rating and a $25.00 target price on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $35.19.
Shares of Fiesta Restaurant Group (NASDAQ:FRGI) traded down 0.86% during trading on Tuesday, hitting $24.26. The company had a trading volume of 8,749 shares. The firm has a market capitalization of $647.43 million, a P/E ratio of 18.30 and a beta of 1.20. Fiesta Restaurant Group has a 1-year low of $20.15 and a 1-year high of $44.24. The company’s 50 day moving average is $24.85 and its 200 day moving average is $26.50.
Fiesta Restaurant Group (NASDAQ:FRGI) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $181.50 million for the quarter, compared to the consensus estimate of $183.55 million. Fiesta Restaurant Group had a net margin of 5.01% and a return on equity of 15.37%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. Analysts anticipate that Fiesta Restaurant Group will post $1.32 earnings per share for the current fiscal year.
In related news, insider John Alan Todd, Jr. sold 2,178 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $23.41, for a total transaction of $50,986.98. Following the completion of the sale, the insider now owns 16,120 shares in the company, valued at $377,369.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. William Blair Investment Management LLC boosted its stake in Fiesta Restaurant Group by 296.8% in the second quarter. William Blair Investment Management LLC now owns 1,565,512 shares of the company’s stock valued at $34,144,000 after buying an additional 1,170,977 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Fiesta Restaurant Group during the second quarter valued at about $11,269,000. Prudential Financial Inc. acquired a new stake in Fiesta Restaurant Group during the second quarter valued at about $9,021,000. Falcon Point Capital LLC boosted its stake in Fiesta Restaurant Group by 69.6% in the second quarter. Falcon Point Capital LLC now owns 626,152 shares of the company’s stock valued at $13,656,000 after buying an additional 257,032 shares in the last quarter. Finally, Kerrisdale Advisers LLC boosted its stake in Fiesta Restaurant Group by 109.9% in the second quarter. Kerrisdale Advisers LLC now owns 333,156 shares of the company’s stock valued at $7,266,000 after buying an additional 174,461 shares in the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.
About Fiesta Restaurant Group
Fiesta Restaurant Group, Inc (Fiesta) owns, operates and franchises approximately two fast-casual restaurant brands, Pollo Tropical and Taco Cabana. The Company operates through the Pollo Tropical and Taco Cabana segments. Its Pollo Tropical is a fast-casual restaurant brand offering a range of Caribbean food.
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