Fiesta Restaurant Group Inc (FRGI) is Downgraded by Piper Jaffray to Neutral

Fiesta Restaurant Group Inc (FRGI) was Downgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Aug 29, 2016.

Many Wall Street Analysts have commented on Fiesta Restaurant Group Inc. Shares were Reiterated by Wedbush on Aug 4, 2016 to “Outperform” and Lowered the Price Target to $ 32 from a previous price target of $47 .Fiesta Restaurant Group Inc was Downgraded by Jefferies to ” Hold” on Jul 26, 2016. Standpoint Research Initiated Fiesta Restaurant Group Inc on Jul 7, 2016 to “Buy”, Price Target of the shares are set at $36.

On the company’s financial health, Fiesta Restaurant Group Inc reported $0.34 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.40. The company had revenue of $181.50 million for the quarter, compared to analysts expectations of $183.88 million. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.

Fiesta Restaurant Group Inc opened for trading at $23.37 and hit $23.53 on the upside on Tuesday, eventually ending the session at $23.4, with a gain of 0.04% or 0.01 points. The heightened volatility saw the trading volume jump to 4,59,075 shares. Company has a market cap of $630 M.

In a different news, on Aug 24, 2016, John Alan Jr Todd (officer ) sold 2,178 shares at $23.41 per share price. According to the SEC, 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.

Fiesta Restaurant Group Inc

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