Red Robin Gourmet Burgers, Inc. (RRGB) Given Consensus Rating of “Hold” by Brokerages
Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) has received a consensus rating of “Hold” from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $72.00.
Several research firms have weighed in on RRGB. Maxim Group reiterated a “buy” rating and set a $80.00 price objective (up from $75.00) on shares of Red Robin Gourmet Burgers in a research report on Wednesday, May 17th. Canaccord Genuity upgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $72.00 to $90.00 in a research report on Friday, May 26th. Raymond James Financial, Inc. set a $75.00 price objective on shares of Red Robin Gourmet Burgers and gave the stock a “buy” rating in a research report on Wednesday, August 9th. TheStreet cut shares of Red Robin Gourmet Burgers from a “b-” rating to a “c” rating in a research report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th.
In related news, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $71.80, for a total value of $211,522.80. Following the completion of the sale, the director now directly owns 6,547 shares in the company, valued at $470,074.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Guy J. Constant acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average price of $58.88 per share, with a total value of $147,200.00. The disclosure for this purchase can be found here. Corporate insiders own 2.66% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in Red Robin Gourmet Burgers by 10.3% in 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. ClariVest Asset Management LLC bought a new position in shares of Red Robin Gourmet Burgers during the second quarter worth approximately $105,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Red Robin Gourmet Burgers by 74.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,431 shares of the restaurant operator’s stock worth $142,000 after buying an additional 1,037 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Red Robin Gourmet Burgers during the second quarter worth approximately $149,000. Finally, Seven Eight Capital LP bought a new position in shares of Red Robin Gourmet Burgers during the second quarter worth approximately $163,000.
Shares of Red Robin Gourmet Burgers (RRGB) traded up 0.51% during midday trading on Tuesday, reaching $58.80. The company’s stock had a trading volume of 47,198 shares. Red Robin Gourmet Burgers has a 12 month low of $40.85 and a 12 month high of $74.11. The stock has a market capitalization of $760.11 million, a PE ratio of 91.16 and a beta of 0.62. The stock’s 50 day moving average is $61.17 and its 200 day moving average is $59.15.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.10. The company had revenue of $315.80 million for the quarter, compared to analysts’ expectations of $315.69 million. Red Robin Gourmet Burgers had a return on equity of 8.00% and a net margin of 0.64%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 earnings per share. On average, analysts forecast that Red Robin Gourmet Burgers will post $2.75 EPS for the current fiscal year.
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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