BidaskClub downgraded shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) from a sell rating to a strong sell rating in a research note issued to investors on Monday morning.

RRGB has been the topic of several other research reports. Bank of America Corporation upped their price objective on Red Robin Gourmet Burgers from $80.00 to $85.00 and gave the company a buy rating in a research note on Thursday, May 25th. Jefferies Group LLC restated a hold rating and issued a $52.00 price objective on shares of Red Robin Gourmet Burgers in a research note on Tuesday, April 4th. Maxim Group restated a buy rating and issued a $80.00 price objective on shares of Red Robin Gourmet Burgers in a research note on Tuesday, May 23rd. Morgan Stanley upped their price objective on Red Robin Gourmet Burgers from $70.00 to $72.00 and gave the company an equal weight rating in a research note on Tuesday, May 30th. Finally, Zacks Investment Research lowered Red Robin Gourmet Burgers from a buy rating to a sell rating in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $74.80.

Red Robin Gourmet Burgers (NASDAQ:RRGB) traded down 1.75% during mid-day trading on Monday, reaching $56.15. The company’s stock had a trading volume of 419,963 shares. The company has a 50 day moving average of $64.27 and a 200-day moving average of $58.25. Red Robin Gourmet Burgers has a 52-week low of $40.85 and a 52-week high of $74.11. The stock has a market cap of $722.59 million, a PE ratio of 82.33 and a beta of 0.62.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings data on Tuesday, May 16th. The restaurant operator reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.31. The firm had revenue of $418.60 million for the quarter, compared to analyst estimates of $416.48 million. Red Robin Gourmet Burgers had a return on equity of 8.73% and a net margin of 0.69%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.27 earnings per share. Equities analysts forecast that Red Robin Gourmet Burgers will post $2.93 earnings per share for the current year.

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In related news, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the stock in a transaction that occurred 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 sale, the director now owns 6,547 shares of the company’s stock, valued at $470,074.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Glenn B. Kaufman sold 4,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $72.25, for a total value of $289,000.00. The disclosure for this sale can be found here. Corporate insiders own 2.66% of the company’s stock.

A number of large investors have recently modified their holdings of RRGB. Legal & General Group Plc increased its stake in shares of Red Robin Gourmet Burgers by 14.4% in the second 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. SG Americas Securities LLC increased its stake in shares of Red Robin Gourmet Burgers by 11.5% in the second quarter. SG Americas Securities LLC now owns 29,795 shares of the restaurant operator’s stock worth $1,944,000 after buying an additional 3,073 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Red Robin Gourmet Burgers by 45.2% in the second quarter. Advisors Asset Management Inc. now owns 3,297 shares of the restaurant operator’s stock worth $215,000 after buying an additional 1,027 shares in the last quarter. ClariVest Asset Management LLC bought a new stake in shares of Red Robin Gourmet Burgers during the second quarter worth about $105,000. Finally, Falcon Point Capital LLC bought a new stake in shares of Red Robin Gourmet Burgers during the second quarter worth about $9,414,000.

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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