Fiesta Receives a Buy from Wedbush

In a report released today, Nick Setyan from Wedbush maintained a Buy rating on Fiesta (NASDAQ: FRGI), with a price target of $29. The company’s shares closed yesterday at $21.85.

According to TipRanks.com, Setyan is a 4-star analyst with an average return of 7.1% and a 63.1% success rate. Setyan covers the Services sector, focusing on stocks such as Del Taco Restaurants, Jack In The Box Inc, and Cheesecake Factory.

Currently, the analyst consensus on Fiesta is Moderate Buy and the average price target is $28.50, representing a 30.4% upside.

In a report released today, Stephens also upgraded the stock to Buy with a $28 price target.

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Based on Fiesta’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.76 million. In comparison, last year the company had a GAAP net loss of $15.06 million.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FRGI in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Fiesta Restaurant Group, Inc. engages in the acquisition, operation, and franchise of fast-casual restaurants. It operates through the following segments: Pollo Tropical, Taco Cabana, and Other. The Pollo Tropical segment offers a variety of Caribbean inspired food. The Taco Cabana segment serves a selection of Mexican inspired food.