Ignite Restaurant tumbles on Keybanc cut


Ignite Restaurant Group (IRG -5.3%) shares tumble after Keybanc downgrades the restaurateur to Hold from Buy.

Analyst Christopher O'Cull doesn't see any near-term reversal of persistently weak sales trends. Neither does he think that the company's Macaroni Grill marketing efforts will boost traffic as much as expected.

The caveat? O'Cull still likes the long-term growth prospects of Joe's Crab Shack and Brick House Tavern + Tap.

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