Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Stock Rating Reaffirmed by BTIG Research

BTIG Research reiterated their buy rating on shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) in a research report released on Tuesday, September 12th. The firm currently has a $70.00 target price on the restaurant operator’s stock, up from their prior target price of $64.00.

Several other brokerages have also issued reports on RRGB. Maxim Group reissued a buy rating and issued a $80.00 price target on shares of Red Robin Gourmet Burgers in a research note on Tuesday, May 23rd. Bank of America Corporation boosted their price target on Red Robin Gourmet Burgers from $80.00 to $85.00 and gave the company a buy rating in a research note on Thursday, May 25th. Wells Fargo & Company reissued a market perform rating and issued a $70.00 price target on shares of Red Robin Gourmet Burgers in a research note on Thursday, May 25th. Canaccord Genuity raised Red Robin Gourmet Burgers from a hold rating to a buy rating and boosted their price target for the company from $72.00 to $90.00 in a research note on Friday, May 26th. Finally, TheStreet upgraded Red Robin Gourmet Burgers from a c rating to a b- rating in a report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Red Robin Gourmet Burgers currently has an average rating of Hold and an average target price of $73.40.

Shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) opened at 62.30 on Tuesday. The company has a 50-day moving average of $58.44 and a 200 day moving average of $60.76. Red Robin Gourmet Burgers has a 12 month low of $40.85 and a 12 month high of $74.11. The company has a market capitalization of $805.35 million, a P/E ratio of 96.59 and a beta of 0.63.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings data on Tuesday, August 8th. The restaurant operator reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.10. The company had revenue of $315.80 million for the quarter, compared to analyst estimates of $315.69 million. Red Robin Gourmet Burgers had a return on equity of 8.00% and a net margin of 0.64%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 earnings per share. Analysts forecast that Red Robin Gourmet Burgers will post $2.78 EPS for the current year.

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In other news, CFO Guy J. Constant purchased 2,500 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were purchased at an average price of $58.88 per share, with a total value of $147,200.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 2.66% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of RRGB. BlackRock Inc. lifted its position in shares of Red Robin Gourmet Burgers by 43,842.6% during the 1st quarter. BlackRock Inc. now owns 1,561,279 shares of the restaurant operator’s stock valued at $91,256,000 after buying an additional 1,557,726 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Red Robin Gourmet Burgers by 772.5% during the 1st quarter. Ameriprise Financial Inc. now owns 770,351 shares of the restaurant operator’s stock valued at $45,027,000 after buying an additional 682,062 shares during the last quarter. Daruma Capital Management LLC lifted its position in shares of Red Robin Gourmet Burgers by 225.6% during the 2nd quarter. Daruma Capital Management LLC now owns 856,225 shares of the restaurant operator’s stock valued at $55,869,000 after buying an additional 593,278 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Red Robin Gourmet Burgers by 29.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,084,203 shares of the restaurant operator’s stock valued at $63,371,000 after buying an additional 246,178 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Red Robin Gourmet Burgers by 2,125.9% during the 1st quarter. Wells Fargo & Company MN now owns 212,862 shares of the restaurant operator’s stock valued at $12,442,000 after buying an additional 203,299 shares during the last quarter.

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.

Analyst Recommendations for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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