Fiesta Restaurant Group (FRGI) : Analyst Rating Update

Fiesta Restaurant Group (FRGI) : 4 brokerage houses believe that Fiesta Restaurant Group (FRGI) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 1 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Fiesta Restaurant Group (FRGI). Zacks Investment Research suggests a Strong Sell with a rank of 5.The median of all the 6 Wall Street Analysts endorse the stock as a Strong Buy with a rating of 1.5.

Fiesta Restaurant Group (FRGI) : The highest level Fiesta Restaurant Group (FRGI) is projected to reach is $47 for the short term and the lowest estimate is at $36. The consolidated price target from 4 rating analysts who initiate coverage on the stock is $41.38 and the possibility the share price can swing is $5.44.

Fiesta Restaurant Group (NASDAQ:FRGI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $22.00 and $21.96 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $22.56. The buying momentum continued till the end and the stock did not give up its gains. It closed at $22.56, notching a gain of 2.27% for the day. The total traded volume was 348,751 . The stock had closed at $22.06 on the previous day.

Also, Equity analysts at the Brokerage firm Raymond James downgrades its rating on Fiesta Restaurant Group (NASDAQ:FRGI). The rating major has initiated the coverage with outperform rating on the shares. Earlier, the shares were rated a Strong Buy by the brokerage firm. The Analysts at Raymond James lowers the price target from $45 per share to $37.5 per share. The rating by the firm was issued on May 10, 2016. The company shares have dropped -54.24% from its 1 Year high price. On Jul 31, 2015, the shares registered one year high at $62.50 and the one year low was seen on Jun 27, 2016. The 50-Day Moving Average price is $23.64 and the 200 Day Moving Average price is recorded at $31.63.

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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