iPic Entertainment (IPIC) Stock Rating Upgraded by Zacks Investment Research

iPic Entertainment (NASDAQ:IPIC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $5.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 21.36% from the stock’s previous close.

According to Zacks, “iPic Entertainment Inc. provides premier luxury restaurant-and-theater brand. The company’s entertainment platforms offer movie theaters and bar/restaurants. It operates primarily in Arizona, California, Florida, Illinois, New Jersey, New York, Texas, Washington and Wisconsin. IPic Entertainment Inc. is headquartered in Boca Raton, FL. “

Several other equities analysts have also commented on the stock. Barrington Research lowered shares of iPic Entertainment from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 2nd. Telsey Advisory Group lowered shares of iPic Entertainment from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $15.50 to $8.00 in a report on Wednesday, November 7th. Finally, Roth Capital reduced their target price on shares of iPic Entertainment from $18.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, November 7th.

Shares of iPic Entertainment stock traded down $0.26 on Wednesday, hitting $4.12. 2,294 shares of the company traded hands, compared to its average volume of 15,480. iPic Entertainment has a 12-month low of $2.02 and a 12-month high of $17.00.

iPic Entertainment (NASDAQ:IPIC) last posted its quarterly earnings data on Tuesday, November 6th. The company reported ($1.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.78) by ($0.25). The firm had revenue of $31.74 million for the quarter, compared to analysts’ expectations of $33.38 million. As a group, equities analysts forecast that iPic Entertainment will post -4.21 earnings per share for the current year.

An institutional investor recently bought a new position in iPic Entertainment stock. Vanguard Group Inc. purchased a new position in iPic Entertainment Inc (NASDAQ:IPIC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 37,683 shares of the company’s stock, valued at approximately $231,000. Vanguard Group Inc. owned about 0.33% of iPic Entertainment as of its most recent SEC filing. 0.40% of the stock is currently owned by hedge funds and other institutional investors.

iPic Entertainment Company Profile

iPic Entertainment Inc operates restaurants and theaters in the United States. The company operates casual restaurants, farm-to-glass full-service bars, and theater auditoriums with in-theater dining. It operates restaurants under the City Perch Kitchen + Bar, Tanzy, The Tuck Room, The Tuck Room Tavern, and iPic Express brands.

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