Stifel Nicolaus assumed coverage on shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) in a research report report published on Monday, MarketBeat.com reports. The brokerage issued a hold rating and a $62.00 price objective on the restaurant operator’s stock.

Several other brokerages also recently commented on RRGB. BTIG Research restated a buy rating and set a $70.00 price objective (up from $64.00) on shares of Red Robin Gourmet Burgers in a research report on Tuesday, September 12th. Raymond James Financial, Inc. set a $75.00 price objective on shares of Red Robin Gourmet Burgers and gave the company a buy rating in a research report on Wednesday, August 9th. Canaccord Genuity restated a buy rating and set a $80.00 price objective (down from $90.00) on shares of Red Robin Gourmet Burgers in a research report on Wednesday, August 9th. Maxim Group restated a buy rating and set a $75.00 price objective on shares of Red Robin Gourmet Burgers in a research report on Wednesday, August 9th. Finally, TheStreet downgraded shares of Red Robin Gourmet Burgers from a b- rating to a c rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Red Robin Gourmet Burgers presently has an average rating of Hold and an average price target of $71.60.

Shares of Red Robin Gourmet Burgers (NASDAQ RRGB) opened at 65.45 on Monday. The company has a market capitalization of $846.07 million, a price-to-earnings ratio of 101.47 and a beta of 0.65. Red Robin Gourmet Burgers has a 52-week low of $40.85 and a 52-week high of $74.11. The company’s 50-day moving average price is $60.61 and its 200-day moving average price is $61.69.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. Red Robin Gourmet Burgers had a net margin of 0.64% and a return on equity of 8.00%. The company had revenue of $315.80 million during the quarter, compared to the consensus estimate of $315.69 million. During the same period in the previous year, the business earned $0.75 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Red Robin Gourmet Burgers will post $2.78 EPS for the current fiscal year.

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In related news, CFO Guy J. Constant purchased 2,500 shares of the stock in a transaction dated Monday, August 14th. The stock was bought at an average cost of $58.88 per share, for a total transaction of $147,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.66% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. ClariVest Asset Management LLC acquired a new position in shares of Red Robin Gourmet Burgers during the second quarter worth $105,000. Public Employees Retirement System of Ohio increased its holdings in shares of 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 buying an additional 164 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Red Robin Gourmet Burgers during the second quarter worth $149,000. Seven Eight Capital LP acquired a new position in shares of Red Robin Gourmet Burgers during the second quarter worth $163,000. Finally, Advisor Group Inc. acquired a new position in shares of Red Robin Gourmet Burgers during the second quarter worth $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.

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

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