Bravo Brio Restaurant Group (NASDAQ:BBRG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Bravo Brio Restaurant Group, Inc. is an owner and operator of two distinct Italian restaurant brands, BRAVO! Cucina Italiana and BRIO Tuscan Grille. BRAVO! Cucina Italiana is a full-service, upscale Italian restaurant offering a menu of freshly prepared classic Italian food. BRAVO offers variety of pasta dishes, steaks, chicken, seafood and pizzas. It also offers seasonal specials, an extensive wine list, carry-out and catering. BRIO Tuscan Grille is an upscale Italian chophouse restaurant serving authentic northern Italian food in a Tuscan Villa atmosphere. The cuisine at BRIO includes steaks, chops, fresh seafood and made-to-order pastas. BRIO also offers creative seasonal specials, an extensive wine list, and carry-out and banquet facilities at select locations. It also operates one full-service upscale American-French bistro restaurant in Columbus, Ohio under the brand Bon Vie. Bravo Brio Restaurant Group is based in Columbus, Ohio. “

Several other brokerages also recently commented on BBRG. Jefferies Group reissued a “hold” rating and set a $3.75 target price on shares of Bravo Brio Restaurant Group in a research note on Tuesday, September 12th. Piper Jaffray Companies cut Bravo Brio Restaurant Group from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $5.00 to $2.00 in a report on Thursday, September 7th.

Shares of Bravo Brio Restaurant Group (NASDAQ:BBRG) traded up $0.13 during mid-day trading on Wednesday, reaching $2.30. 35,900 shares of the company’s stock traded hands, compared to its average volume of 84,491. The company has a quick ratio of 0.12, a current ratio of 0.16 and a debt-to-equity ratio of -1.68. The firm has a market cap of $33.07, a P/E ratio of 9.89, a P/E/G ratio of 2.03 and a beta of 0.69. Bravo Brio Restaurant Group has a 52-week low of $1.65 and a 52-week high of $5.30.

Bravo Brio Restaurant Group (NASDAQ:BBRG) last posted its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported ($0.16) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.16). The company had revenue of $88.70 million for the quarter, compared to the consensus estimate of $91.65 million. Bravo Brio Restaurant Group had a negative net margin of 18.32% and a negative return on equity of 16.41%. The firm’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company earned ($0.16) earnings per share. sell-side analysts forecast that Bravo Brio Restaurant Group will post 0.2 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kennedy Capital Management Inc. raised its holdings in shares of Bravo Brio Restaurant Group by 22.5% in the second quarter. Kennedy Capital Management Inc. now owns 785,567 shares of the restaurant operator’s stock worth $3,614,000 after buying an additional 144,383 shares during the period. Winslow Asset Management Inc. increased its holdings in shares of Bravo Brio Restaurant Group by 2.7% in the 2nd quarter. Winslow Asset Management Inc. now owns 56,579 shares of the restaurant operator’s stock valued at $260,000 after acquiring an additional 1,500 shares during the period. Weber Alan W acquired a new stake in shares of Bravo Brio Restaurant Group in the 3rd quarter worth $450,000. Bank of New York Mellon Corp boosted its position in shares of Bravo Brio Restaurant Group by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 43,624 shares of the restaurant operator’s stock worth $222,000 after purchasing an additional 1,377 shares in the last quarter. Finally, Rice Hall James & Associates LLC lifted its position in Bravo Brio Restaurant Group by 23.2% during the 2nd quarter. Rice Hall James & Associates LLC now owns 217,829 shares of the restaurant operator’s stock worth $1,002,000 after acquiring an additional 41,020 shares during the period. Institutional investors and hedge funds own 35.50% of the company’s stock.

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About Bravo Brio Restaurant Group

Bravo Brio Restaurant Group, Inc is the owner and operator of approximately two Italian restaurant brands, including BRAVO! Cucina Italiana (BRAVO!) and BRIO Tuscan Grille (BRIO). The Company operates approximately 120 restaurants in over 30 states. Additionally, approximately one BRIO restaurant is operated under a franchise agreement.

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