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Research analysts at Piper Jaffray reduced their target price on shares of Ignite Restaurant Group (NYSE:IRG) from $17.00 to $14.00 in a report released on Friday. Piper Jaffray’s price objective points to a potential upside of 73.91% from the company’s current price.

Shares of Ignite Restaurant Group (NYSE:IRG) opened at 8.05 on Friday. Ignite Restaurant Group has a 1-year low of $7.60 and a 1-year high of $17.50. The stock’s 50-day moving average is $13.37 and its 200-day moving average is $13.81. The company’s market cap is $210.3 million.

Ignite Restaurant Group (NYSE:IRG) last released its earnings data on Thursday, August 7th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.24 by $0.16. The company had revenue of $229.80 million for the quarter, compared to the consensus estimate of $238.74 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts predict that Ignite Restaurant Group will post $0.34 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at CL King downgraded shares of Ignite Restaurant Group from a “buy” rating to a “neutral” rating in a research note on Friday. Analysts at Raymond James downgraded shares of Ignite Restaurant Group from a “market perform” rating to an “underperform” rating in a research note on Friday.

Ignite Restaurant Group, Inc operates two restaurant brands, Joe’s Crab Shack (NYSE:IRG) and Brick House Tavern + Tap (Brick House).

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