Del Frisco’s Restaurant Group (DFRG) Upgraded to “Buy” by Zacks Investment Research

Del Frisco’s Restaurant Group (NASDAQ:DFRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $9.00 price target on the restaurant operator’s stock. Zacks Investment Research‘s target price points to a potential upside of 7.78% from the company’s previous close.

According to Zacks, “Del Frisco’s Restaurant Group, LLC develops, owns and operates three contemporary, complementary restaurant concepts: Del Frisco’s Double Eagle Steak House, Sullivan’s Steakhouse and Del Frisco’s Grille. The restaurants offer selections that include steaks, lobster tails, lamb chops and fresh seafood, as well as an extensive wine selection. Del Frisco’s Restaurant Group, LLC is headquartered in Wichita, Kansas. “

Several other research analysts have also recently weighed in on DFRG. ValuEngine upgraded shares of Del Frisco’s Restaurant Group from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. Loop Capital began coverage on shares of Del Frisco’s Restaurant Group in a research report on Friday, November 2nd. They issued a “hold” rating and a $8.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $12.42.

Shares of Del Frisco’s Restaurant Group stock opened at $8.35 on Monday. Del Frisco’s Restaurant Group has a 12-month low of $5.86 and a 12-month high of $18.85. The stock has a market capitalization of $274.90 million, a PE ratio of 12.89 and a beta of 0.86. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.39.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last posted its quarterly earnings data on Monday, November 12th. The restaurant operator reported ($1.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.84). The company had revenue of $105.30 million during the quarter, compared to the consensus estimate of $116.60 million. Del Frisco’s Restaurant Group had a positive return on equity of 6.41% and a negative net margin of 20.49%. On average, analysts anticipate that Del Frisco’s Restaurant Group will post 0.1 earnings per share for the current year.

In other Del Frisco’s Restaurant Group news, major shareholder Armistice Capital Master Fund purchased 58,000 shares of Del Frisco’s Restaurant Group stock in a transaction on Tuesday, December 4th. The shares were acquired at an average cost of $6.85 per share, for a total transaction of $397,300.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Armistice Capital, Llc purchased 7,900 shares of Del Frisco’s Restaurant Group stock in a transaction on Monday, January 7th. The shares were acquired at an average price of $7.69 per share, for a total transaction of $60,751.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 1,108,733 shares of company stock worth $7,395,196. 3.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of DFRG. FMR LLC grew its position in Del Frisco’s Restaurant Group by 552.6% during the third quarter. FMR LLC now owns 4,744,923 shares of the restaurant operator’s stock valued at $39,382,000 after acquiring an additional 4,017,823 shares during the last quarter. Schroder Investment Management Group bought a new position in Del Frisco’s Restaurant Group during the second quarter valued at approximately $12,661,000. BlackRock Inc. grew its position in Del Frisco’s Restaurant Group by 51.3% during the third quarter. BlackRock Inc. now owns 2,176,124 shares of the restaurant operator’s stock valued at $18,063,000 after acquiring an additional 737,922 shares during the last quarter. Vanguard Group Inc grew its position in Del Frisco’s Restaurant Group by 49.8% during the third quarter. Vanguard Group Inc now owns 1,484,945 shares of the restaurant operator’s stock valued at $12,325,000 after acquiring an additional 493,456 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Del Frisco’s Restaurant Group by 49.8% during the third quarter. Vanguard Group Inc. now owns 1,484,945 shares of the restaurant operator’s stock valued at $12,325,000 after acquiring an additional 493,456 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

About Del Frisco’s Restaurant Group

Del Frisco's Restaurant Group, Inc develops, owns, and operates restaurants in the United States. It owns and operates restaurants under the Del Frisco's Double Eagle Steak House, Del Frisco's Grille, Barcelona Wine Bar, and bartaco brand names. The company offers steaks, as well as other menu selections, such as chops, fresh seafood, tapas, street food, and wines and cocktails.

See Also: Current Ratio

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