Fiesta Restaurant Group (FRGI) Given Buy Rating at Wedbush
Wedbush reissued their buy rating on shares of Fiesta Restaurant Group (NASDAQ:FRGI) in a research report report published on Tuesday. They currently have a $24.00 target price on the restaurant operator’s stock. Wedbush also issued estimates for Fiesta Restaurant Group’s Q1 2018 earnings at $0.10 EPS, Q2 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.17 EPS, Q4 2018 earnings at $0.14 EPS, FY2018 earnings at $0.63 EPS, Q1 2019 earnings at $0.20 EPS, Q2 2019 earnings at $0.30 EPS, Q3 2019 earnings at $0.24 EPS, Q4 2019 earnings at $0.21 EPS and FY2019 earnings at $0.96 EPS.
A number of other research analysts have also issued reports on the stock. BidaskClub lowered shares of Fiesta Restaurant Group from a hold rating to a sell rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of Fiesta Restaurant Group from a sell rating to a hold rating in a research note on Thursday, November 9th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Fiesta Restaurant Group presently has an average rating of Hold and an average price target of $22.60.
Fiesta Restaurant Group (FRGI) opened at $18.00 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.49 and a current ratio of 0.69. The stock has a market cap of $460.59, a PE ratio of -13.33, a price-to-earnings-growth ratio of 1.77 and a beta of 0.71. Fiesta Restaurant Group has a one year low of $15.50 and a one year high of $25.35.
In related news, major shareholder National Corp Leucadia purchased 176,814 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were bought at an average cost of $16.59 per share, for a total transaction of $2,933,344.26. Following the transaction, the insider now owns 3,075,383 shares of the company’s stock, valued at $51,020,603.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack A. Smith purchased 3,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were bought at an average price of $17.04 per share, for a total transaction of $51,120.00. Following the completion of the transaction, the director now directly owns 52,041 shares in the company, valued at approximately $886,778.64. The disclosure for this purchase can be found here. Insiders own 2.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of Fiesta Restaurant Group during the 4th quarter worth about $186,000. Municipal Employees Retirement System of Michigan raised its position in shares of Fiesta Restaurant Group by 59.7% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,160 shares of the restaurant operator’s stock worth $193,000 after buying an additional 3,800 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Fiesta Restaurant Group during the 4th quarter worth about $205,000. Cubist Systematic Strategies LLC bought a new stake in shares of Fiesta Restaurant Group during the 2nd quarter worth about $217,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Fiesta Restaurant Group during the 4th quarter worth about $254,000. Institutional investors own 98.11% of the company’s stock.
Fiesta Restaurant Group Company Profile
Fiesta Restaurant Group, Inc owns, operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana through its subsidiaries Pollo Operations, Inc, and its subsidiaries, and Pollo Franchise, Inc, (collectively Pollo Tropical) and Taco Cabana, Inc and its subsidiaries (collectively Taco Cabana).
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