Jefferies Downgrades Fiesta Restaurant Group Inc to Hold

Brokerage firm Jefferies Downgrades its rating on Fiesta Restaurant Group Inc(NASDAQ:FRGI). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Jefferies was issued on Jul 26, 2016.

In a different note, On May 10, 2016, Raymond James said it Downgrades its rating on Fiesta Restaurant Group Inc. In the research note, the firm Lowers the price-target to $45.00 per share. The shares have been rated ‘Outperform’ by the firm. On May 10, 2016, Sterne Agee CRT said it Downgrades its rating on Fiesta Restaurant Group Inc. The shares have been rated ‘Neutral’ by the firm.

Fiesta Restaurant Group Inc (FRGI) shares turned negative on Fridays trading session with the shares closing down -0.76 points or -3.29% at a volume of 7,58,982. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $23.1655. The peak price level was also seen at $23.1655 while the days lowest was $22.165. Finally the shares closed at $22.34. The 52-week high of the shares is $62.5 while the 52-week low is $20.15. According to the latest information available, the market cap of the company is $601 M.

Fiesta Restaurant Group Inc(FRGI) last announced its earnings results on May 9, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $176.68M. Analysts had an estimated revenue of $175.20M. Earnings per share were $0.37. Analysts had estimated an EPS of $0.40.

Several Insider Transactions has been reported to the SEC. On May 31, 2016, Nicholas Daraviras (director) sold 4,000 shares at $25.28 per share price.Also, On May 26, 2016, Joseph A Zirkman (SVP & GC) sold 3,000 shares at $24.50 per share price.On May 11, 2016, Danny K Meisenheimer (COO) purchased 3,000 shares at $26.29 per share price, according to the Form-4 filing with the securities and exchange commission.

Fiesta Restaurant Group Inc. (Fiesta) is engaged in the fast-casual restaurant industry with two restaurant concepts (each of which is an operating segment): Pollo Tropical and Taco Cabana. Pollo Tropical is a fast-casual restaurant brand offering a range of Caribbean food. Taco Cabana restaurants offers a range of hand-made Mexican food. The Company owns and operates 124 Pollo Tropical restaurants of which 107 are located in Florida 10 are located in Texas five are located in Georgia and two are located in Tennessee and franchised a total of 37 Pollo Tropical restaurants. Fiesta also owns and operates 167 Taco Cabana restaurants of which 162 are located in Texas three are located in Oklahoma and under the Cabana Grill logo one is located in Georgia and one is located in Florida and franchised a total of seven Taco Cabana restaurants. It has four Taco Cabana franchised restaurants located in New Mexico and three non-traditional Taco Cabana licensed locations in Texas.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *