Ignite Restaurant Group, Inc. (NASDAQ:IRG) Announces Additions to Senior Leadership Team as Share Price “Ignites” Into the Stratosphere

Operator of a portfolio of diverse restaurant concepts, Ignite Restaurant Group, Inc. (NASDAQ:IRG), announces a series of changes to their senior leadership team.

Ignite Restaurant Group, Inc. (IRG) announced that Debra Eybers has been named Interim Chief Operating Officer, effective November 29, 2016 and Lou Anne Banks joined the company as Vice President of Marketing on October 17, 2016.

Robert S. Merritt, Chief Executive Officer of Ignite Restaurant Group, stated, “We are excited to have Deb and Lou Anne join the Ignite team. They both bring a wealth of industry experience that will be instrumental in our future success. We look forward to working with Deb and Lou Anne as they help lead two important areas of focus for our company.”

Debra Eybers has more than 20 years of experience in a variety of operational and leadership roles within the restaurant industry. For the past several years, she has served as a consultant for several restaurant companies, including Ruth’s Hospitality Group and The Palm Restaurant. Ms. Eybers previously served as the President of House of Blues and as President of Cheeseburger in Paradise.

Lou Anne Banks has more than 20 years of experience leading marketing and public relations for restaurants, retailers and other multi-unit organizations in both corporate and agency environments. She previously served as the Director of Marketing for Bonefish Grill and the Vice President of Marketing for Johnny Rockets. Ms. Banks also served as a senior agency strategist to McDonald’s Restaurants, Smokey Bones Bar & Fire Grill, White Castle, Logan’s Roadhouse and Firehouse Subs.

About Ignite Restaurant Group

Ignite Restaurant Group, Inc. (IRG), headquartered in Houston, Texas, operates a portfolio of restaurant concepts, including Joe’s Crab Shack and Brick House Tavern + Tap, in a diverse set of markets across the United States. Each brand offers a variety of high-quality food in a distinctive, casual, high-energy atmosphere. For more information on Ignite and its distinctive brands visit www.igniterestaurantgroup.com.

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Ignite Restaurant Group, Inc. (NASDAQ:IRG) shares are trading +72.00% on the news and in the range of $0.26 – 0.49 during the current trading session.  When taking a look at which direction the stock might be headed, investors often look to brokerage analysts who cover the stock.  Sell-side research firms on Wall Street currently have a consensus one-year price target of $1.00 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.

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Sell-side analysts are projecting earnings per share of $-0.03 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $-0.36 per share according to First Call.

In looking at where the stock is trading on a technical level, the stock is trading +29.07% away from its 50-day moving average of $0.33.  Based on the most recent available data, the equity is -90.44% off of its 52-week high of $4.50 and +126.32% away from its 52-week low which is $0.19.

Today, the stock opened at $0.26 and the last bid at the time of writing stood at $0.43.  During the session thus far, the equity dipped down to $0.26 and touched $0.49 as the high point.  Ignite Restaurant Group, Inc. (NASDAQ:IRG) has a market cap of $11.30M and has seen an average daily volume of 111,603 over the past three months.

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