Media headlines about Fiesta Restaurant Group (NASDAQ:FRGI) have been trending somewhat positive recently, Accern Sentiment reports. The research group identifies negative and positive news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Fiesta Restaurant Group earned a coverage optimism score of 0.19 on Accern’s scale. Accern also assigned news articles about the restaurant operator an impact score of 45.1784558587307 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
These are some of the media headlines that may have effected Accern’s scoring:
- BRIEF-Fiesta Restaurant Group Says On March 9, Entered Into First Amendment, Which Amends Credit Agreement Dated (reuters.com)
- Fiesta Restaurant Group’s Ludicrous Valuation Is Dangerous For Longs (seekingalpha.com)
- BidaskClub Upgrades Fiesta Restaurant Group (FRGI) to Hold (americanbankingnews.com)
- Fiesta Restaurant Group (FRGI) Upgraded to Hold by ValuEngine (americanbankingnews.com)
- Analysts Expect Fiesta Restaurant Group Inc (FRGI) Will Announce Quarterly Sales of $165.03 Million (americanbankingnews.com)
A number of research analysts have recently commented on FRGI shares. Wedbush reissued an “outperform” rating and issued a $24.00 target price (up previously from $19.00) on shares of Fiesta Restaurant Group in a report on Friday, December 8th. BidaskClub raised shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a report on Friday, January 26th. Finally, ValuEngine cut shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.60.
Fiesta Restaurant Group declared that its board has initiated a stock buyback plan on Monday, February 26th that permits the company to repurchase 1,500,000 shares. This repurchase authorization permits the restaurant operator to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In other news, major shareholder National Corp Leucadia acquired 176,814 shares of the stock in a transaction dated Thursday, March 1st. The stock was bought at an average price of $16.59 per share, with a total value of $2,933,344.26. Following the completion of the purchase, the insider now directly owns 3,075,383 shares of the company’s stock, valued at approximately $51,020,603.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack A. Smith acquired 3,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average cost of $17.04 per share, with a total value of $51,120.00. Following the purchase, the director now directly owns 52,041 shares of the company’s stock, valued at $886,778.64. The disclosure for this purchase can be found here. Insiders sold 941 shares of company stock valued at $17,673 in the last ninety days. 2.20% of the stock is currently owned by insiders.
COPYRIGHT VIOLATION NOTICE: This article was originally posted by BBNS and is the sole property of of BBNS. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://baseballnewssource.com/2018/03/13/somewhat-positive-press-coverage-somewhat-unlikely-to-affect-fiesta-restaurant-group-frgi-stock-price/2024451.html.
About Fiesta Restaurant Group
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).
Receive News & Ratings for Fiesta Restaurant Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fiesta Restaurant Group and related companies with MarketBeat.com's FREE daily email newsletter.