Canaccord Genuity reiterated their buy rating on shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) in a research report released on Sunday. They currently have a $80.00 price objective on the restaurant operator’s stock.

A number of other brokerages also recently weighed in on RRGB. BTIG Research reiterated a buy rating and issued a $70.00 target price (up from $64.00) on shares of Red Robin Gourmet Burgers in a report on Tuesday, September 12th. Maxim Group reiterated a buy rating and issued a $75.00 target price (down from $80.00) on shares of Red Robin Gourmet Burgers in a report on Tuesday, August 1st. Zacks Investment Research downgraded Red Robin Gourmet Burgers from a buy rating to a sell rating in a report on Thursday, July 27th. BidaskClub downgraded Red Robin Gourmet Burgers from a hold rating to a sell rating in a report on Sunday, July 16th. Finally, TheStreet downgraded Red Robin Gourmet Burgers from a b- rating to a c rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Red Robin Gourmet Burgers currently has a consensus rating of Hold and an average price target of $71.60.

Red Robin Gourmet Burgers (RRGB) opened at 65.05 on Friday. The company has a 50 day moving average price of $60.61 and a 200 day moving average price of $61.69. Red Robin Gourmet Burgers has a 12 month low of $40.85 and a 12 month high of $74.11. The firm has a market capitalization of $840.90 million, a price-to-earnings ratio of 100.85 and a beta of 0.65.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.10. The business had revenue of $315.80 million during the quarter, compared to the consensus estimate 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 for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. Analysts anticipate that Red Robin Gourmet Burgers will post $2.78 earnings per share for the current fiscal year.

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In other news, CFO Guy J. Constant acquired 2,500 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of $58.88 per share, for a total transaction of $147,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.66% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Red Robin Gourmet Burgers by 1.3% during the second quarter. BlackRock Inc. now owns 1,581,338 shares of the restaurant operator’s stock valued at $103,184,000 after buying an additional 20,059 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Red Robin Gourmet Burgers by 29.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,084,203 shares of the restaurant operator’s stock valued at $63,371,000 after buying an additional 246,178 shares during the last quarter. Daruma Capital Management LLC boosted its position in shares of Red Robin Gourmet Burgers by 225.6% during the second quarter. Daruma Capital Management LLC now owns 856,225 shares of the restaurant operator’s stock valued at $55,869,000 after buying an additional 593,278 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Red Robin Gourmet Burgers by 5.5% during the second quarter. Vanguard Group Inc. now owns 704,965 shares of the restaurant operator’s stock valued at $45,998,000 after buying an additional 36,847 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Red Robin Gourmet Burgers by 2.0% during the first quarter. Alliancebernstein L.P. now owns 525,590 shares of the restaurant operator’s stock valued at $30,721,000 after buying an additional 10,250 shares during the last quarter.

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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