Fiesta Restaurant Group Inc. (FRGI) Shares Up 2%
Fiesta Restaurant Group Inc. (NASDAQ:FRGI) shares shot up 2% during trading on Tuesday . The company traded as high as $24.32 and last traded at $24.16, with a volume of 373,102 shares changing hands. The stock had previously closed at $23.69.
A number of brokerages have issued reports on FRGI. Raymond James Financial Inc. lowered shares of Fiesta Restaurant Group from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $45.00 to $37.50 in a research note on Tuesday, May 10th. Sterne Agee CRT lowered shares of Fiesta Restaurant Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 10th. Jefferies Group reiterated a “buy” rating on shares of Fiesta Restaurant Group in a research note on Tuesday, May 10th. Stephens reiterated a “buy” rating on shares of Fiesta Restaurant Group in a research note on Tuesday, May 10th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $36.00 price target (down from $45.00) on shares of Fiesta Restaurant Group in a research note on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $36.36.
The company’s 50-day moving average is $23.39 and its 200 day moving average is $29.18. The company has a market cap of $640.22 million and a P/E ratio of 18.09.
Fiesta Restaurant Group (NASDAQ:FRGI) last issued 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 earned $181.50 million during the quarter, compared to analysts’ expectations of $183.55 million. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that Fiesta Restaurant Group Inc. will post $1.33 EPS for the current fiscal year.
In other news, Director Nicholas Daraviras sold 4,000 shares of Fiesta Restaurant Group stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $25.28, for a total value of $101,120.00. Following the transaction, the director now directly owns 11,709 shares of the company’s stock, valued at approximately $296,003.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph A. Zirkman sold 3,000 shares of Fiesta Restaurant Group stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $24.50, for a total value of $73,500.00. Following the completion of the transaction, the senior vice president now directly owns 124,423 shares in the company, valued at $3,048,363.50. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Fiesta Restaurant Group stock. New York State Common Retirement Fund boosted its stake in shares of Fiesta Restaurant Group Inc. (NASDAQ:FRGI) by 356.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,690 shares of the company’s stock after buying an additional 98,923 shares during the period. New York State Common Retirement Fund owned about 0.48% of Fiesta Restaurant Group worth $4,257,000 at the end of the most recent 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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