iPic Entertainment (IPIC) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of iPic Entertainment (NASDAQ:IPIC) from a hold rating to a sell rating in a report issued on Wednesday morning.

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 analysts have also recently weighed in on IPIC. Telsey Advisory Group cut iPic Entertainment from an outperform rating to a market perform rating and reduced their price target for the stock from $15.50 to $8.00 in a report on Wednesday, November 7th. Roth Capital reduced their price target on iPic Entertainment from $18.00 to $10.00 and set a buy rating on the stock in a report on Wednesday, November 7th. Barrington Research cut iPic Entertainment from an outperform rating to a market perform rating in a report on Wednesday, January 2nd. Finally, ValuEngine cut iPic Entertainment from a buy rating to a hold rating in a report on Saturday, February 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $8.00.

NASDAQ:IPIC opened at $5.39 on Wednesday. iPic Entertainment has a 1-year low of $2.02 and a 1-year high of $13.74.

An institutional investor recently bought a new position in iPic Entertainment stock. Vanguard Group Inc bought a new stake in iPic Entertainment Inc (NASDAQ:IPIC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 37,683 shares of the company’s stock, valued at approximately $231,000. Vanguard Group Inc owned about 0.33% of iPic Entertainment at the end of the most recent reporting period. 0.40% of the stock is currently owned by 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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