Shares of Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) fell 2.3% on Friday . The stock traded as low as $48.61 and last traded at $48.63, with a volume of 263,445 shares changing hands. The stock had previously closed at $49.75.

Several research firms have recently weighed in on RRGB. TheStreet downgraded Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Maxim Group reduced their target price on Red Robin Gourmet Burgers from $94.00 to $91.00 and set a “buy” rating for the company in a report on Tuesday, March 22nd. KeyCorp reissued a “buy” rating and issued a $90.00 target price on shares of Red Robin Gourmet Burgers in a report on Wednesday, March 30th. Jefferies Group reissued a “buy” rating and issued a $72.00 target price (down from $80.00) on shares of Red Robin Gourmet Burgers in a report on Thursday, May 19th. Finally, Zacks Investment Research downgraded Red Robin Gourmet Burgers from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 19th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $85.89.

The stock has a 50-day moving average of $51.34 and a 200-day moving average of $59.19. The firm has a market cap of $663.65 million and a P/E ratio of 15.09.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Tuesday, May 17th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.16. During the same period in the prior year, the company earned $1.10 EPS. The company had revenue of $402.10 million for the quarter, compared to the consensus estimate of $416.30 million. The firm’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts forecast that Red Robin Gourmet Burgers Inc. will post $3.41 earnings per share for the current fiscal year.

In other Red Robin Gourmet Burgers news, Director Glenn B. Kaufman bought 2,000 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Friday, May 20th. The stock was acquired at an average price of $47.85 per share, for a total transaction of $95,700.00. Following the completion of the acquisition, the director now owns 23,440 shares of the company’s stock, valued at approximately $1,121,604. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Carin Stutz bought 960 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Friday, May 27th. The shares were acquired at an average price of $52.20 per share, with a total value of $50,112.00. Following the acquisition, the chief operating officer now directly owns 2,218 shares of the company’s stock, valued at approximately $115,779.60. The disclosure for this purchase can be found here.

Other hedge funds and institutional investors have made changes to their positions in the company. Trexquant Investment LP boosted its position in shares of Red Robin Gourmet Burgers by 30.4% in the fourth quarter. Trexquant Investment LP now owns 19,818 shares of the company’s stock valued at $1,224,000 after buying an additional 4,618 shares during the last quarter. UBS Oconnor LLC acquired a new position in shares of Red Robin Gourmet Burgers during the fourth quarter valued at approximately $2,964,000. Victory Capital Management Inc. boosted its position in shares of Red Robin Gourmet Burgers by 37.4% in the fourth quarter. Victory Capital Management Inc. now owns 306,210 shares of the company’s stock valued at $18,905,000 after buying an additional 83,378 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Red Robin Gourmet Burgers by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 51,008 shares of the company’s stock valued at $3,149,000 after buying an additional 304 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its position in shares of Red Robin Gourmet Burgers by 15.2% in the fourth quarter. State of Wisconsin Investment Board now owns 187,193 shares of the company’s stock valued at $11,557,000 after buying an additional 24,710 shares during the last quarter.

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates and franchises casual-dining restaurants and fast-casual restaurants in North America and focuses on serving a selection of gourmet burgers. The Company is primarily engaged in the sale of food and beverages at the Company-owned restaurants.

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