Bank of America Corp. downgraded shares of Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) from a buy rating to an underperform rating in a report published on Tuesday morning. They currently have $50.00 price objective on the stock.

“Low valuation is a risk to our call, but low margins leave the company exposed to sharp corrections if sales remain weak.,” the firm’s analyst commented.

A number of other equities analysts also recently issued reports on the stock. Jefferies Group downgraded shares of Red Robin Gourmet Burgers from a buy rating to a hold rating and set a $55.00 price target for the company. in a report on Tuesday, July 26th. Zacks Investment Research upgraded shares of Red Robin Gourmet Burgers from a sell rating to a hold rating in a report on Wednesday, July 20th. Maxim Group cut their price target on shares of Red Robin Gourmet Burgers from $77.00 to $71.00 and set a buy rating for the company in a report on Thursday, August 4th. TheStreet downgraded shares of Red Robin Gourmet Burgers from a buy rating to a hold rating in a report on Wednesday, July 6th. Finally, Morgan Stanley reiterated a hold rating on shares of Red Robin Gourmet Burgers in a report on Wednesday, May 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Red Robin Gourmet Burgers has an average rating of Hold and a consensus price target of $71.69.

Shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) opened at 46.46 on Tuesday. Red Robin Gourmet Burgers has a 1-year low of $45.00 and a 1-year high of $82.66. The stock has a 50 day moving average of $49.69 and a 200-day moving average of $55.87. The stock has a market capitalization of $617.31 million, a P/E ratio of 15.47 and a beta of 0.98.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.05. The company earned $305.50 million during the quarter, compared to analysts’ expectations of $313.63 million. Red Robin Gourmet Burgers had a net margin of 3.27% and a return on equity of 12.47%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. Equities research analysts predict that Red Robin Gourmet Burgers will post $3.19 earnings per share for the current fiscal year.

In related news, CFO Stuart B. Brown sold 5,846 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $53.15, for a total value of $310,714.90. Following the sale, the chief financial officer now directly owns 15,790 shares of the company’s stock, valued at $839,238.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stuart I. Oran sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $52.62, for a total transaction of $63,144.00. The disclosure for this sale can be found here. Company insiders own 2.66% of the company’s stock.

Several large investors have recently added to or reduced their stakes in RRGB. Mason Street Advisors LLC bought a new stake in Red Robin Gourmet Burgers during the second quarter valued at about $127,000. Schwab Charles Investment Management Inc. boosted its stake in Red Robin Gourmet Burgers by 6.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,469 shares of the company’s stock valued at $3,580,000 after buying an additional 4,848 shares in the last quarter. Numeric Investors LLC boosted its stake in Red Robin Gourmet Burgers by 27.9% in the second quarter. Numeric Investors LLC now owns 17,400 shares of the company’s stock valued at $825,000 after buying an additional 3,800 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Red Robin Gourmet Burgers during the second quarter valued at about $15,092,000. Finally, Arizona State Retirement System boosted its stake in Red Robin Gourmet Burgers by 1.4% in the second quarter. Arizona State Retirement System now owns 7,095 shares of the company’s stock valued at $337,000 after buying an additional 100 shares in the last quarter.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates and franchises casual-dining restaurants and fast-casual restaurants in North America and focuses on serving a selection of gourmet burgers. The Company is primarily engaged in the sale of food and beverages at the Company-owned restaurants.

5 Day Chart for NASDAQ:RRGB

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