Zacks Investment Research lowered shares of Del Frisco’s Restaurant Group, Inc. (NASDAQ:DFRG) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday, July 19th.
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 firms also recently commented on DFRG. Canaccord Genuity restated a hold rating and set a $19.00 price objective on shares of Del Frisco’s Restaurant Group in a report on Tuesday, April 25th. Deutsche Bank AG restated a hold rating and set a $17.50 price objective (up previously from $16.00) on shares of Del Frisco’s Restaurant Group in a report on Saturday, April 29th. Finally, TheStreet downgraded Del Frisco’s Restaurant Group from a b rating to a c+ rating in a report on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $18.75.
Del Frisco’s Restaurant Group (DFRG) traded up 2.50% during mid-day trading on Wednesday, reaching $14.35. The company had a trading volume of 236,042 shares. Del Frisco’s Restaurant Group has a one year low of $13.01 and a one year high of $18.80. The firm’s 50-day moving average is $15.53 and its 200-day moving average is $16.88. The firm has a market capitalization of $303.19 million, a P/E ratio of 24.74 and a beta of 0.80.
Del Frisco’s Restaurant Group (NASDAQ:DFRG) last issued its earnings results on Friday, July 21st. The restaurant operator reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.02. The business had revenue of $82.30 million during the quarter, compared to the consensus estimate of $81.92 million. Del Frisco’s Restaurant Group had a return on equity of 7.39% and a net margin of 3.73%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 earnings per share. On average, equities research analysts anticipate that Del Frisco’s Restaurant Group will post $0.76 earnings per share for the current fiscal year.
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In other Del Frisco’s Restaurant Group news, Director Ian Russell Carter acquired 12,200 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were acquired at an average price of $14.00 per share, with a total value of $170,800.00. Following the completion of the transaction, the director now owns 38,339 shares in the company, valued at $536,746. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Thomas J. Pennison, Jr. sold 2,827 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $17.74, for a total value of $50,150.98. Following the completion of the transaction, the chief financial officer now directly owns 44,536 shares in the company, valued at approximately $790,068.64. The disclosure for this sale can be found here. Insiders have purchased 57,394 shares of company stock valued at $809,299 in the last quarter. 2.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Del Frisco’s Restaurant Group by 83.2% in the fourth quarter. FMR LLC now owns 2,292,450 shares of the restaurant operator’s stock worth $38,972,000 after buying an additional 1,041,300 shares during the period. Highbridge Capital Management LLC bought a new stake in shares of Del Frisco’s Restaurant Group during the first quarter worth about $297,000. State Street Corp boosted its stake in shares of Del Frisco’s Restaurant Group by 7.0% in the fourth quarter. State Street Corp now owns 404,989 shares of the restaurant operator’s stock worth $6,887,000 after buying an additional 26,397 shares during the period. Wellington Management Group LLP raised its position in shares of Del Frisco’s Restaurant Group by 17.1% in the first quarter. Wellington Management Group LLP now owns 1,068,102 shares of the restaurant operator’s stock worth $19,279,000 after buying an additional 155,999 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Del Frisco’s Restaurant Group by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,205,104 shares of the restaurant operator’s stock worth $20,487,000 after buying an additional 76,125 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.
Del Frisco’s Restaurant Group Company Profile
Del Frisco’s Restaurant Group, Inc develops, owns and operates three contemporary, complementary restaurants: Del Frisco’s Double Eagle Steak House (Del Frisco’s), Sullivan’s Steakhouse (Sullivan’s) and Del Frisco’s Grille (the Grille). As of December 27, 2016, the Company operated 53 restaurants in 24 states and the District of Columbia in the United States.
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