Bravo Brio Restaurant Group Rating Lowered to Hold at Jefferies Group (BBRG)
Bravo Brio Restaurant Group (NASDAQ:BBRG) was downgraded by stock analysts at Jefferies Group from a “buy” rating to a “hold” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports.
The analysts wrote, “Downgrading to Hold until we gain better visibility on earnings growth acceleration back toward 15-20%. We do not see any issues with BBRG’s long-term unit growth opportunity, and think that new store openings remain in line with targeted expectations. However, both Bravo & Brio have suffered from site-specific issues over the past twelve months and have become increasingly sensitive to competitive (Italian) & macro trends. SSS & traffic have turned negative, trending much more in line with broad casual dining than other upscale concepts, and margins have eroded significantly. Consequently, the company has pulled back on unit growth to focus on existing stores, with the intent of ramping back toward 10% next year.”
Bravo Brio Restaurant Group (NASDAQ:BBRG) traded down 0.63% on Tuesday, hitting $15.65. The stock had a trading volume of 102,310 shares. Bravo Brio Restaurant Group has a 52 week low of $12.28 and a 52 week high of $19.10. The stock’s 50-day moving average is $17.0 and its 200-day moving average is $16.7. The company has a market cap of $306.8 million and a P/E ratio of 21.28.
Bravo Brio Restaurant Group (NASDAQ:BBRG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.26 by $0.04. The company had revenue of $105.60 million for the quarter, compared to the consensus estimate of $109.41 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Bravo Brio Restaurant Group will post $0.84 earnings per share for the current fiscal year.
Separately, analysts at Stifel Nicolaus initiated coverage on shares of Bravo Brio Restaurant Group in a research note to investors on Tuesday, July 16th. They set a “hold” rating on the stock.
Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Bravo Brio Restaurant Group currently has a consensus rating of “Buy” and a consensus price target of $19.50.
Bravo Brio Restaurant Group, Inc is the owner and operator of two Italian restaurant brands, BRAVO! Cucina Italiana (NASDAQ:BBRG) and BRIO Tuscan Grille (BRIO).
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