Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) was downgraded by equities research analysts at Maxim Group from a “buy” rating to a “hold” rating in a research note issued on Tuesday, November 7th, MarketBeat.com reports. They currently have a $60.00 price objective on the restaurant operator’s stock, down from their previous price objective of $75.00. Maxim Group’s target price suggests a potential upside of 18.58% from the company’s current price.
A number of other equities analysts have also recently weighed in on RRGB. BidaskClub cut Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Raymond James Financial, Inc. restated a “strong-buy” rating and set a $85.00 target price on shares of Red Robin Gourmet Burgers in a report on Tuesday, July 25th. Zacks Investment Research lowered Red Robin Gourmet Burgers from a “buy” rating to a “sell” rating in a research report on Thursday, July 27th. BTIG Research raised Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Wednesday, August 9th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $80.00 price target (down previously from $90.00) on shares of Red Robin Gourmet Burgers in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $69.00.
Shares of Red Robin Gourmet Burgers (RRGB) traded up $1.65 during mid-day trading on Tuesday, hitting $50.60. The stock had a trading volume of 443,100 shares, compared to its average volume of 382,752. Red Robin Gourmet Burgers has a twelve month low of $45.20 and a twelve month high of $74.11. The company has a current ratio of 0.56, a quick ratio of 0.37 and a debt-to-equity ratio of 0.76. The firm has a market cap of $654.56, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 2.17 and a beta of 0.67.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its 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 company had revenue of $304.20 million during the quarter, compared to analysts’ expectations of $308.44 million. Red Robin Gourmet Burgers had a net margin of 0.94% and a return on equity of 7.32%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 earnings per share. research analysts forecast that Red Robin Gourmet Burgers will post 2.26 EPS for the current year.
In other Red Robin Gourmet Burgers news, COO Carin Stutz purchased 715 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were purchased at an average cost of $49.15 per share, for a total transaction of $35,142.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.66% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its holdings in Red Robin Gourmet Burgers by 10.3% during the first quarter. Public Employees Retirement System of Ohio now owns 1,759 shares of the restaurant operator’s stock worth $103,000 after purchasing an additional 164 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in Red Robin Gourmet Burgers during the second quarter worth $105,000. Daiwa Securities Group Inc. acquired a new position in Red Robin Gourmet Burgers in the third quarter valued at $147,000. Acadian Asset Management LLC purchased a new stake in Red Robin Gourmet Burgers during the second quarter valued at about $149,000. Finally, Seven Eight Capital LP purchased a new stake in Red Robin Gourmet Burgers during the second quarter valued at about $163,000.
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.
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