Fiesta Restaurant Group Inc (FRGI) is Downgraded by Raymond James to Outperform

Fiesta Restaurant Group Inc (FRGI) was Downgraded by Raymond James to ” Outperform”. Earlier the firm had a rating of “Strong Buy ” on the company shares. Raymond James advised their investors in a research report released on May 10, 2016.

Many Wall Street Analysts have commented on Fiesta Restaurant Group Inc. Shares were Reiterated by Wedbush on Apr 18, 2016 to “Outperform” and Lowered the Price Target to $ 47 from a previous price target of $53 .

On the company’s financial health, Fiesta Restaurant Group Inc reported $0.37 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $0.40. The company had revenue of $176.70 million for the quarter, compared to analysts expectations of $177.05 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Fiesta Restaurant Group Inc closed down -0.28 points or -0.86% at $32.18 with 3,46,360 shares getting traded on Friday. Post opening the session at $32.22, the shares hit an intraday low of $31.36 and an intraday high of $33.215 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Mar 8, 2016, Timothy P Taft (CEO & President) sold 8,000 shares at $37.70 per share price. According to the SEC, on Mar 3, 2016, Todd Coerver (COO, Taco Cabana) sold 3,936 shares at $35.00 per share price. On Aug 5, 2015, John Alan Jr Todd (officer ) sold 822 shares at $58.15 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.

Fiesta Restaurant Group Inc

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