Red Robin Gourmet Burgers (NASDAQ:RRGB) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.

Several other analysts also recently weighed in on the stock. Raymond James Financial downgraded shares of Red Robin Gourmet Burgers from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $77.50 to $65.00 in a research report on Tuesday, November 7th. Jefferies Group cut their price objective on shares of Red Robin Gourmet Burgers from $61.00 to $58.00 and set a “hold” rating on the stock in a research report on Tuesday, November 7th. Zacks Investment Research upgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research report on Tuesday, October 10th. Maxim Group reiterated a “buy” rating and issued a $75.00 price objective on shares of Red Robin Gourmet Burgers in a research report on Monday, October 30th. Finally, BTIG Research cut their price objective on shares of Red Robin Gourmet Burgers from $70.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Red Robin Gourmet Burgers has an average rating of “Hold” and an average price target of $69.45.

Shares of Red Robin Gourmet Burgers (RRGB) traded up $0.65 during trading hours on Thursday, reaching $55.25. 173,191 shares of the company traded hands, compared to its average volume of 293,132. The company has a market cap of $713.61, a P/E ratio of 57.55, a PEG ratio of 1.98 and a beta of 0.56. Red Robin Gourmet Burgers has a 12-month low of $45.20 and a 12-month high of $74.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.37 and a current ratio of 0.56.

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

In related news, COO Carin Stutz purchased 715 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were bought at an average cost of $49.15 per share, for a total transaction of $35,142.25. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.66% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in RRGB. Schwab Charles Investment Management Inc. raised its position in shares of Red Robin Gourmet Burgers by 11.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 108,295 shares of the restaurant operator’s stock worth $7,067,000 after buying an additional 11,261 shares in the last quarter. Legal & General Group Plc raised its position in shares of Red Robin Gourmet Burgers by 14.4% during the 2nd quarter. Legal & General Group Plc now owns 24,296 shares of the restaurant operator’s stock worth $1,587,000 after buying an additional 3,066 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Red Robin Gourmet Burgers by 44.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,094 shares of the restaurant operator’s stock worth $398,000 after buying an additional 1,876 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Red Robin Gourmet Burgers by 4,772.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 64,170 shares of the restaurant operator’s stock worth $4,187,000 after buying an additional 62,853 shares in the last quarter. Finally, AXA bought a new stake in shares of Red Robin Gourmet Burgers during the 2nd quarter worth about $424,000.

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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.

Analyst Recommendations for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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