Zacks Upgrades Ignite Restaurant Group to Neutral (IRG)
Ignite Restaurant Group (NYSE:IRG) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued on Tuesday, StockRatingsNetwork.com reports. The firm currently has a $13.30 price objective on the stock. Zacks‘ price objective points to a potential upside of 2.86% from the stock’s previous close.
Shares of Ignite Restaurant Group (NYSE:IRG) traded up 0.70% on Tuesday, hitting $13.02. 17,328 shares of the company’s stock traded hands. Ignite Restaurant Group has a 52-week low of $11.26 and a 52-week high of $21.28. The stock’s 50-day moving average is $12.20 and its 200-day moving average is $15.44. The company’s market cap is $334.0 million.
Ignite Restaurant Group (NYSE:IRG) last released its earnings data on Tuesday, November 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.25. The company had revenue of $227.60 million for the quarter, compared to the consensus estimate of $232.61 million. The company’s revenue for the quarter was up 76.3% on a year-over-year basis. Analysts expect that Ignite Restaurant Group will post $-0.10 EPS for the current fiscal year.
Separately, analysts at TheStreet downgraded shares of Ignite Restaurant Group from a “hold” rating to a “sell” rating in a research note to investors on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Ignite Restaurant Group presently has a consensus rating of “Hold” and a consensus price target of $17.83.
Ignite Restaurant Group, Inc (NYSE:IRG) is a brand for restaurants.
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