PiperJaffray Downgrades Fiesta Restaurant Group Inc to Neutral

Brokerage firm PiperJaffray Downgrades its rating on Fiesta Restaurant Group Inc(NASDAQ:FRGI). The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by PiperJaffray was issued on Aug 29, 2016.

In a different note, Canaccord Genuity said it Initiates Coverage on Fiesta Restaurant Group Inc, according to a research note issued on Aug 22, 2016. The shares have been rated ‘Hold’ by the firm. On Aug 4, 2016, Jefferies said it Maintains its rating on Fiesta Restaurant Group Inc. In the research note, the firm Lowers the price-target to $27.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 26, 2016, Jefferies said it Downgrades its rating on Fiesta Restaurant Group Inc. The shares have been rated ‘Hold’ by the firm.

Fiesta Restaurant Group Inc (FRGI) made into the market gainers list on Thursdays trading session with the shares advancing 0.20% or 0.05 points. Due to strong positive momentum, the stock ended at $25.31, which is also near the day’s high of $26.18. The stock began the session at $25.25 and the volume stood at 4,08,551 shares. The 52-week high of the shares is $53.13 and the 52 week low is $20.15. The company has a current market capitalization of $681 M and it has 2,69,21,404 shares in outstanding.

Fiesta Restaurant Group Inc(FRGI) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $181.53M. Analysts had an estimated revenue of $183.55M. Earnings per share were $0.34. Analysts had estimated an EPS of $0.40.

Several Insider Transactions has been reported to the SEC. On Aug 24, 2016, John Alan Jr Todd (officer ) sold 2,178 shares at $23.41 per share price.Also, On May 31, 2016, Nicholas Daraviras (director) sold 4,000 shares at $25.28 per share price.On May 26, 2016, Joseph A Zirkman (SVP & GC) sold 3,000 shares at $24.50 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.

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