Fiesta Restaurant Group Inc. (NASDAQ:FRGI) shares shot up 2.8% on Thursday . The stock traded as high as $24.42 and last traded at $23.20, with a volume of 356,309 shares traded. The stock had previously closed at $22.56.

Several research firms have recently weighed in on FRGI. Zacks Investment Research cut shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a report on Monday, March 28th. Raymond James Financial Inc. cut shares of Fiesta Restaurant Group from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $45.00 to $37.50 in a report on Tuesday, May 10th. Jefferies Group reaffirmed a “buy” rating on shares of Fiesta Restaurant Group in a report on Tuesday, May 10th. Wedbush reaffirmed an “outperform” rating and issued a $47.00 price target (down previously from $53.00) on shares of Fiesta Restaurant Group in a report on Monday, April 18th. Finally, Standpoint Research began coverage on shares of Fiesta Restaurant Group in a report on Thursday. They issued a “buy” rating and a $36.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $44.21.

The stock has a market cap of $624.21 million and a price-to-earnings ratio of 16.59. The company’s 50-day moving average price is $23.58 and its 200-day moving average price is $31.42.

Fiesta Restaurant Group (NASDAQ:FRGI) last issued its earnings results on Monday, May 9th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The company had revenue of $176.70 million for the quarter, compared to the consensus estimate of $176.80 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS. Equities analysts forecast that Fiesta Restaurant Group Inc. will post $1.51 EPS for the current year.

In other news, Director Nicholas Daraviras sold 4,000 shares of Fiesta Restaurant Group stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $25.28, for a total transaction of $101,120.00. Following the transaction, the director now owns 11,709 shares in the company, valued at approximately $296,003.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Danny K. Meisenheimer purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were acquired at an average price of $26.31 per share, for a total transaction of $78,930.00. Following the purchase, the chief operating officer now directly owns 24,014 shares in the company, valued at $631,808.34. The disclosure for this purchase can be found here.

Several hedge funds and institutional investors have modified their holdings of the company. California State Teachers Retirement System boosted its position in shares of Fiesta Restaurant Group by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 49,689 shares of the company’s stock valued at $1,670,000 after buying an additional 800 shares in the last quarter. UBS Oconnor LLC acquired a new position in shares of Fiesta Restaurant Group during the fourth quarter valued at $2,016,000. New York State Common Retirement Fund boosted its position in shares of Fiesta Restaurant Group by 356.3% in the fourth quarter. New York State Common Retirement Fund now owns 126,690 shares of the company’s stock valued at $4,257,000 after buying an additional 98,923 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Fiesta Restaurant Group during the fourth quarter valued at $7,098,000. Finally, Columbia Wanger Asset Management LLC boosted its position in shares of Fiesta Restaurant Group by 36.4% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 2,193,089 shares of the company’s stock valued at $73,688,000 after buying an additional 585,060 shares in the last quarter.

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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