Bravo Brio Restaurant Group, Inc. (BBRG) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Bravo Brio Restaurant Group, Inc. (NASDAQ:BBRG) from a hold rating to a sell rating in a report published on Friday, November 3rd.

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. “

BBRG has been the topic of several other reports. Piper Jaffray Companies cut Bravo Brio Restaurant Group from a neutral rating to an underweight rating and reduced their price objective for the stock from $5.00 to $2.00 in a research note on Thursday, September 7th. Jefferies Group LLC restated a hold rating and set a $3.75 price objective on shares of Bravo Brio Restaurant Group in a research note on Tuesday, September 12th. Finally, ValuEngine upgraded Bravo Brio Restaurant Group from a sell rating to a hold rating in a research note on Tuesday, August 1st.

Bravo Brio Restaurant Group (NASDAQ BBRG) traded up $0.05 during trading on Friday, hitting $2.20. 194,700 shares of the company traded hands, compared to its average volume of 86,580. Bravo Brio Restaurant Group has a 1-year low of $1.65 and a 1-year high of $5.30. 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 stock has a market cap of $34.21, a price-to-earnings ratio of 9.77, a PEG ratio of 2.00 and a beta of 0.64.

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

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Several institutional investors and hedge funds have recently modified their holdings of the company. Kennedy Capital Management Inc. lifted its position in shares of Bravo Brio Restaurant Group by 22.5% during the second quarter. Kennedy Capital Management Inc. now owns 785,567 shares of the restaurant operator’s stock worth $3,614,000 after acquiring an additional 144,383 shares in the last quarter. Winslow Asset Management Inc. grew its holdings in Bravo Brio Restaurant Group by 2.7% during the second quarter. Winslow Asset Management Inc. now owns 56,579 shares of the restaurant operator’s stock worth $260,000 after acquiring an additional 1,500 shares during the period. Rice Hall James & Associates LLC grew its holdings in Bravo Brio Restaurant Group by 23.2% during the second 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. Bank of New York Mellon Corp grew its holdings in Bravo Brio Restaurant Group by 3.3% during the first quarter. Bank of New York Mellon Corp now owns 43,624 shares of the restaurant operator’s stock worth $222,000 after acquiring an additional 1,377 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Bravo Brio Restaurant Group by 7.6% during the first quarter. Dimensional Fund Advisors LP now owns 573,055 shares of the restaurant operator’s stock worth $2,923,000 after acquiring an additional 40,338 shares during the period. 43.73% of the stock is currently owned by institutional investors and hedge funds.

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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