Red Robin Gourmet Burgers, Inc. (RRGB) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) have earned an average rating of “Hold” from the ten analysts that are covering the firm. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $60.60.

Several equities research analysts have recently issued reports on RRGB shares. Maxim Group reduced their target price on Red Robin Gourmet Burgers from $73.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, January 12th. Zacks Investment Research raised Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Friday, January 6th. Jefferies Group LLC reissued a “hold” rating and set a $56.00 price objective on shares of Red Robin Gourmet Burgers in a research note on Monday, January 9th. Canaccord Genuity restated a “hold” rating and set a $45.00 target price on shares of Red Robin Gourmet Burgers in a research report on Sunday, January 8th. Finally, Standpoint Research lowered Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a research report on Tuesday, March 28th.

In other Red Robin Gourmet Burgers news, CFO Guy J. Constant purchased 5,000 shares of Red Robin Gourmet Burgers stock in a transaction dated Friday, February 24th. The shares were acquired at an average cost of $47.30 per share, with a total value of $236,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.66% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan increased its position in Red Robin Gourmet Burgers by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,030 shares of the restaurant operator’s stock valued at $136,000 after buying an additional 50 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Red Robin Gourmet Burgers by 1.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,930 shares of the restaurant operator’s stock valued at $391,000 after buying an additional 100 shares during the last quarter. Foundry Partners LLC increased its stake in shares of Red Robin Gourmet Burgers by 0.3% in the first quarter. Foundry Partners LLC now owns 114,375 shares of the restaurant operator’s stock valued at $6,685,000 after buying an additional 300 shares in the last quarter. Stevens Capital Management LP increased its stake in shares of Red Robin Gourmet Burgers by 4.0% in the third quarter. Stevens Capital Management LP now owns 10,941 shares of the restaurant operator’s stock valued at $492,000 after buying an additional 419 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of Red Robin Gourmet Burgers by 3.0% in the third quarter. Great West Life Assurance Co. Can now owns 19,039 shares of the restaurant operator’s stock valued at $855,000 after buying an additional 546 shares in the last quarter.

Red Robin Gourmet Burgers (NASDAQ:RRGB) traded down 0.17% during midday trading on Wednesday, hitting $59.45. The stock had a trading volume of 99,050 shares. The stock’s 50-day moving average is $54.72 and its 200-day moving average is $50.86. Red Robin Gourmet Burgers has a 1-year low of $40.85 and a 1-year high of $67.05. The stock has a market capitalization of $764.35 million, a PE ratio of 68.33 and a beta of 0.85.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings data on Tuesday, February 21st. The restaurant operator reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Red Robin Gourmet Burgers had a return on equity of 11.87% and a net margin of 2.49%. The business had revenue of $291.46 million for the quarter, compared to the consensus estimate of $291.11 million. During the same period in the previous year, the business earned $0.86 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts anticipate that Red Robin Gourmet Burgers will post $2.76 EPS for the current fiscal year.

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About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. The Company’s menu features a line of gourmet burgers, which it makes from ground beef, as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings.

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