Fiesta Restaurant Group (NASDAQ:FRGI) Rating Lowered to Hold at ValuEngine

Posted by Grant Hamersma on Dec 4th, 2019

ValuEngine downgraded shares of Fiesta Restaurant Group (NASDAQ:FRGI) from a buy rating to a hold rating in a research report released on Tuesday, ValuEngine reports.

A number of other equities research analysts have also weighed in on the company. Stephens reduced their price objective on Fiesta Restaurant Group from $25.00 to $14.00 and set an overweight rating on the stock in a research report on Thursday, August 8th. BidaskClub raised Fiesta Restaurant Group from a sell rating to a hold rating in a report on Tuesday, November 26th. Finally, Zacks Investment Research downgraded Fiesta Restaurant Group from a hold rating to a sell rating in a research report on Saturday, August 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $14.50.

NASDAQ FRGI opened at $9.82 on Tuesday. The firm’s fifty day moving average price is $9.20 and its two-hundred day moving average price is $10.82. The stock has a market cap of $272.02 million, a PE ratio of 22.00 and a beta of -0.06. Fiesta Restaurant Group has a fifty-two week low of $8.23 and a fifty-two week high of $19.56. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.46 and a current ratio of 0.51.

Fiesta Restaurant Group (NASDAQ:FRGI) last announced its quarterly earnings results on Tuesday, November 5th. The restaurant operator reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.08). Fiesta Restaurant Group had a positive return on equity of 5.52% and a negative net margin of 10.65%. The company had revenue of $164.20 million for the quarter, compared to analyst estimates of $164.39 million. During the same quarter last year, the company posted $0.11 earnings per share. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts predict that Fiesta Restaurant Group will post 0.45 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co NY grew its holdings in Fiesta Restaurant Group by 17.9% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 6,795 shares of the restaurant operator’s stock worth $71,000 after acquiring an additional 1,032 shares during the last quarter. Bank of Montreal Can increased its holdings in Fiesta Restaurant Group by 135.0% in the second quarter. Bank of Montreal Can now owns 2,237 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 1,285 shares during the period. Tower Research Capital LLC TRC raised its position in Fiesta Restaurant Group by 156.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,183 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 2,549 shares during the last quarter. Glassman Wealth Services bought a new position in Fiesta Restaurant Group during the 2nd quarter worth $37,000. Finally, Wells Fargo & Company MN lifted its holdings in Fiesta Restaurant Group by 6.3% during the 2nd quarter. Wells Fargo & Company MN now owns 50,229 shares of the restaurant operator’s stock worth $661,000 after buying an additional 2,985 shares during the period. Institutional investors and hedge funds own 94.88% of the company’s stock.

Fiesta Restaurant Group Company Profile

Fiesta Restaurant Group, Inc, through its subsidiaries, owns, operates, and franchises fast-casual restaurants. It operates its fast-casual restaurants under the Pollo Tropical and Taco Cabana brands. The company's Pollo Tropical restaurants offer fire-grilled and citrus marinated chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants that provide Mexican inspired food made fresh by hand.