Red Robin Gourmet Burgers, Inc. (RRGB) Rating Lowered to Hold at Maxim Group

Maxim Group cut shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) from a buy rating to a hold rating in a report published on Tuesday morning, MarketBeat reports. The brokerage currently has $60.00 price objective on the restaurant operator’s stock, down from their previous price objective of $75.00.

RRGB has been the topic of several other research reports. BidaskClub cut shares of Red Robin Gourmet Burgers from a sell rating to a strong sell rating in a research report on Monday, July 31st. Stifel Nicolaus initiated coverage on shares of Red Robin Gourmet Burgers in a report on Monday, October 2nd. They issued a hold rating and a $62.00 target price on the stock. Raymond James Financial, Inc. reaffirmed a strong-buy rating and issued a $85.00 target price on shares of Red Robin Gourmet Burgers in a report on Tuesday, July 25th. BTIG Research reduced their target price on shares of Red Robin Gourmet Burgers from $70.00 to $63.00 and set a buy rating on the stock in a report on Tuesday. Finally, TheStreet cut shares of Red Robin Gourmet Burgers from a b- rating to a c rating in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Red Robin Gourmet Burgers currently has a consensus rating of Hold and a consensus target price of $69.00.

Shares of Red Robin Gourmet Burgers (NASDAQ RRGB) remained flat at $$46.95 on Tuesday. The stock had a trading volume of 448,700 shares, compared to its average volume of 381,614. The firm has a market cap of $607.35, a price-to-earnings ratio of 22.79, a PEG ratio of 2.01 and a beta of 0.67. Red Robin Gourmet Burgers has a 1-year low of $45.20 and a 1-year high of $74.11. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 0.76.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings results on Monday, November 6th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.09). The business had revenue of $304.20 million for the quarter, compared to analyst estimates of $308.44 million. Red Robin Gourmet Burgers had a return on equity of 7.32% and a net margin of 0.94%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. sell-side analysts predict that Red Robin Gourmet Burgers will post 2.26 earnings per share for the current fiscal year.

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In related news, CFO Guy J. Constant purchased 2,500 shares of the company’s stock in a transaction on Monday, August 14th. The shares were bought at an average cost of $58.88 per share, for a total transaction of $147,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.66% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Texas Permanent School Fund increased its stake in Red Robin Gourmet Burgers by 0.9% in the second quarter. Texas Permanent School Fund now owns 9,396 shares of the restaurant operator’s stock valued at $613,000 after purchasing an additional 86 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Red Robin Gourmet Burgers by 3.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,040 shares of the restaurant operator’s stock valued at $198,000 after purchasing an additional 110 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Red Robin Gourmet Burgers by 6.4% in the second quarter. Public Employees Retirement System of Ohio now owns 1,871 shares of the restaurant operator’s stock valued at $122,000 after purchasing an additional 112 shares during the last quarter. Teachers Advisors LLC increased its stake in Red Robin Gourmet Burgers by 0.6% in the first quarter. Teachers Advisors LLC now owns 21,896 shares of the restaurant operator’s stock valued at $1,280,000 after purchasing an additional 126 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in Red Robin Gourmet Burgers by 5.1% in the first quarter. Thrivent Financial For Lutherans now owns 7,280 shares of the restaurant operator’s stock valued at $426,000 after purchasing an additional 350 shares during the last quarter.

Red Robin Gourmet Burgers Company Profile

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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