Ignite Restaurant Group (IRG) Jumps: Stock Rises 11.4%
Ignite Restaurant Group, Inc. (IRG) was a big mover last session, as the company saw its shares rise more than 11% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $6.40 to $7.10 in the past one-month time frame.
The company has seen 1 positive and 2 negative estimate revisions in the past 30 days, while its Zacks Consensus Estimate moved lower over the same time frame, suggesting trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent move higher can last.
Ignite Restaurant currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Some better-ranked restaurant stocks are BJ's Restaurants, Inc. (BJRI), DineEquity, Inc. (DIN) and Ruby Tuesday, Inc. (RT). All these stocks sport a Zacks Rank #1 (Strong Buy).
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