Fiesta Restaurant Group Inc. (NASDAQ:FRGI) shot up 7.1% on Wednesday . The company traded as high as $25.55 and last traded at $24.78, with a volume of 1,239,670 shares. The stock had previously closed at $23.14.

A number of research firms have weighed in on FRGI. Jefferies Group downgraded Fiesta Restaurant Group from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research report on Tuesday. Wedbush restated an “outperform” rating and issued a $47.00 target price (down from $53.00) on shares of Fiesta Restaurant Group in a research report on Monday, April 18th. Sterne Agee CRT downgraded Fiesta Restaurant Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 10th. Piper Jaffray Cos. restated an “overweight” rating and issued a $36.00 target price (down from $45.00) on shares of Fiesta Restaurant Group in a research report on Tuesday, May 10th. Finally, Standpoint Research began coverage on Fiesta Restaurant Group in a research report on Thursday, July 7th. They issued a “buy” rating and a $36.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $40.93.

The stock’s 50-day moving average is $23.56 and its 200-day moving average is $30.61. The company has a market cap of $650.04 million and a P/E ratio of 17.28.

Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.03. During the same period last year, the firm posted $0.39 earnings per share. The firm had revenue of $176.70 million for the quarter, compared to the consensus estimate of $176.80 million. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that Fiesta Restaurant Group Inc. will post $1.47 EPS for the current fiscal year.

In other news, Director Nicholas Daraviras sold 4,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 11,709 shares of the company’s stock, valued at $296,003.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Joseph A. Zirkman sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $24.50, for a total transaction of $73,500.00. Following the sale, the senior vice president now directly owns 124,423 shares of the company’s stock, valued at approximately $3,048,363.50. The disclosure for this sale can be found here.

Several hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its stake in 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 during the last quarter. New York State Common Retirement Fund boosted its stake in 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 during the period. Wells Fargo & Company MN boosted its stake in Fiesta Restaurant Group by 5.8% in the fourth quarter. Wells Fargo & Company MN now owns 4,192,594 shares of the company’s stock valued at $140,872,000 after buying an additional 231,616 shares during the period. UBS Oconnor LLC bought a new stake in Fiesta Restaurant Group during the fourth quarter valued at approximately $2,016,000. Finally, Marshall Wace LLP bought a new stake in Fiesta Restaurant Group during the fourth quarter valued at approximately $7,098,000.

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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