Raymond James Financial, Inc. reaffirmed their strong-buy rating on shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) in a report published on Tuesday morning. Raymond James Financial, Inc. currently has a $85.00 price target on the restaurant operator’s stock.

RRGB has been the subject of several other reports. Bank of America Corporation increased their price objective on shares of Red Robin Gourmet Burgers from $80.00 to $85.00 and gave the stock a buy rating in a research report on Thursday, May 25th. Jefferies Group LLC reiterated a hold rating and set a $52.00 price objective on shares of Red Robin Gourmet Burgers in a research report on Tuesday, April 4th. Maxim Group reiterated a buy rating and set a $80.00 price objective on shares of Red Robin Gourmet Burgers in a research report on Tuesday, May 23rd. Morgan Stanley increased their price objective on shares of Red Robin Gourmet Burgers from $70.00 to $72.00 and gave the stock an equal weight rating in a research report on Tuesday, May 30th. Finally, BTIG Research reiterated a neutral rating on shares of Red Robin Gourmet Burgers in a research report on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $75.30.

Shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) traded down 1.99% during trading on Tuesday, hitting $59.25. 552,564 shares of the stock were exchanged. Red Robin Gourmet Burgers has a 52 week low of $40.85 and a 52 week high of $74.11. The firm’s 50 day moving average price is $64.68 and its 200-day moving average price is $58.03. The stock has a market cap of $762.49 million, a P/E ratio of 86.88 and a beta of 0.64.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings data on Tuesday, May 16th. The restaurant operator reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.31. Red Robin Gourmet Burgers had a net margin of 0.69% and a return on equity of 8.73%. The company had revenue of $418.60 million during the quarter, compared to analysts’ expectations of $416.48 million. During the same period in the prior year, the company posted $1.27 earnings per share. Red Robin Gourmet Burgers’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts predict that Red Robin Gourmet Burgers will post $2.93 EPS for the current year.

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In related news, Director Glenn B. Kaufman sold 4,000 shares of the stock in a transaction on Friday, May 26th. The shares were sold at an average price of $72.25, for a total transaction of $289,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $71.80, for a total transaction of $211,522.80. Following the transaction, the director now directly owns 6,547 shares in the company, valued at $470,074.60. The disclosure for this sale can be found here. 2.66% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its position in shares of Red Robin Gourmet Burgers by 1.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,218 shares of the restaurant operator’s stock valued at $247,000 after buying an additional 51 shares in the last quarter. Texas Permanent School Fund raised its position in shares of 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 buying an additional 86 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Red Robin Gourmet Burgers by 1.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,930 shares of the restaurant operator’s stock valued at $391,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System raised its position in shares of Red Robin Gourmet Burgers by 1.5% in the first quarter. Arizona State Retirement System now owns 6,695 shares of the restaurant operator’s stock valued at $391,000 after buying an additional 100 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of 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 buying an additional 110 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 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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