Red Robin Gourmet Burgers, Inc. (RRGB) Given Consensus Rating of “Hold” by Brokerages
Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) has been given an average rating of “Hold” by the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $71.60.
RRGB has been the topic of several recent research reports. BidaskClub lowered Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Raymond James Financial, Inc. restated a “strong-buy” rating and issued a $85.00 price objective on shares of Red Robin Gourmet Burgers in a research 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. Maxim Group restated a “buy” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Red Robin Gourmet Burgers in a research report on Tuesday, August 1st. Finally, BTIG Research upgraded Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Wednesday, August 9th.
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Shares of Red Robin Gourmet Burgers (RRGB) traded down 0.08% during trading on Wednesday, reaching $64.00. 155,370 shares of the company’s stock traded hands. The company has a 50 day moving average price of $61.98 and a 200-day moving average price of $62.30. Red Robin Gourmet Burgers has a one year low of $40.85 and a one year high of $74.11. The stock has a market cap of $827.33 million, a P/E ratio of 99.22 and a beta of 0.65.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings data on Tuesday, August 8th. The restaurant operator reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.10. Red Robin Gourmet Burgers had a return on equity of 8.00% and a net margin of 0.64%. The business had revenue of $315.80 million for the quarter, compared to analyst estimates of $315.69 million. During the same quarter in the prior year, the firm posted $0.75 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts expect that Red Robin Gourmet Burgers will post $2.80 EPS for the current fiscal year.
In other Red Robin Gourmet Burgers news, CFO Guy J. Constant acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $58.88 per share, with a total value of $147,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.66% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. ClariVest Asset Management LLC purchased a new position in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at about $105,000. Public Employees Retirement System of Ohio lifted its stake 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. Acadian Asset Management LLC purchased a new stake in Red Robin Gourmet Burgers during the second quarter worth approximately $149,000. Seven Eight Capital LP purchased a new stake in Red Robin Gourmet Burgers during the second quarter worth approximately $163,000. Finally, Advisor Group Inc. purchased a new stake in Red Robin Gourmet Burgers during the second quarter worth approximately $163,000.
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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