Del Frisco’s Restaurant Group (NASDAQ:DFRG) Upgraded by Bank of America to Buy

Del Frisco’s Restaurant Group (NASDAQ:DFRG) was upgraded by Bank of America to a “buy” rating in a report released on Friday, March 2nd.

Several other equities research analysts have also commented on the stock. Zacks Investment Research raised shares of Del Frisco’s Restaurant Group from a “sell” rating to a “hold” rating in a research report on Friday, November 17th. BidaskClub lowered shares of Del Frisco’s Restaurant Group from a “buy” rating to a “hold” rating in a report on Saturday, February 17th. Deutsche Bank raised shares of Del Frisco’s Restaurant Group from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Finally, Stephens raised shares of Del Frisco’s Restaurant Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $15.10 to $18.00 in a report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $17.50.

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Del Frisco’s Restaurant Group (DFRG) traded down $0.40 during midday trading on Friday, hitting $14.25. 169,426 shares of the stock traded hands, compared to its average volume of 276,300. Del Frisco’s Restaurant Group has a 12-month low of $11.70 and a 12-month high of $18.85. The stock has a market cap of $305.56, a price-to-earnings ratio of -24.57, a P/E/G ratio of 1.93 and a beta of 0.93. The company has a quick ratio of 0.33, a current ratio of 0.76 and a debt-to-equity ratio of 0.19.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last released its quarterly earnings results on Thursday, March 8th. The restaurant operator reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.04). Del Frisco’s Restaurant Group had a negative net margin of 3.17% and a positive return on equity of 6.96%. The business had revenue of $121.89 million for the quarter, compared to analysts’ expectations of $123.12 million. During the same period in the previous year, the company earned $0.37 EPS. Del Frisco’s Restaurant Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. analysts forecast that Del Frisco’s Restaurant Group will post 0.68 EPS for the current fiscal year.

Del Frisco’s Restaurant Group declared that its board has authorized a stock buyback program on Thursday, March 8th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the restaurant operator to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

In other Del Frisco’s Restaurant Group news, CEO Norman J. Abdallah purchased 15,000 shares of the company’s stock in a transaction on Monday, March 12th. The stock was acquired at an average cost of $16.13 per share, for a total transaction of $241,950.00. Following the purchase, the chief executive officer now directly owns 67,712 shares of the company’s stock, valued at approximately $1,092,194.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its stake in Del Frisco’s Restaurant Group by 95.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,645,901 shares of the restaurant operator’s stock worth $23,948,000 after purchasing an additional 802,824 shares during the period. Nationwide Fund Advisors boosted its stake in Del Frisco’s Restaurant Group by 74.3% in the 2nd quarter. Nationwide Fund Advisors now owns 33,431 shares of the restaurant operator’s stock worth $538,000 after purchasing an additional 14,254 shares during the period. Prudential Financial Inc. boosted its stake in Del Frisco’s Restaurant Group by 97.5% in the 3rd quarter. Prudential Financial Inc. now owns 150,360 shares of the restaurant operator’s stock worth $2,188,000 after purchasing an additional 74,240 shares during the period. Vanguard Group Inc. boosted its stake in Del Frisco’s Restaurant Group by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 999,420 shares of the restaurant operator’s stock worth $16,091,000 after purchasing an additional 41,946 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Del Frisco’s Restaurant Group by 10.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,744,814 shares of the restaurant operator’s stock worth $25,387,000 after purchasing an additional 159,038 shares during the period. Institutional investors and hedge funds own 86.58% of the company’s stock.

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Del Frisco’s Restaurant Group Company Profile

Del Frisco's Restaurant Group, Inc develops, owns, and operates restaurants in the United States. It owns and operates restaurants under the Del Frisco's Double Eagle Steak House, Sullivan's Steakhouse, and Del Frisco's Grille brand names. The company offers steaks, as well as other menu selections, such as chops and fresh seafood.

Analyst Recommendations for Del Frisco`s Restaurant Group (NASDAQ:DFRG)

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