Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $46.32 and last traded at $47.00, with a volume of 99,420 shares traded. The stock had previously closed at $48.95.

A number of analysts recently commented on RRGB shares. Maxim Group dropped their price objective on Red Robin Gourmet Burgers from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, April 21st. Zacks Investment Research upgraded Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research report on Wednesday, July 20th. Morgan Stanley reiterated a “hold” rating on shares of Red Robin Gourmet Burgers in a research report on Wednesday, May 18th. Sterne Agee CRT reiterated a “neutral” rating on shares of Red Robin Gourmet Burgers in a research report on Monday, May 16th. Finally, TheStreet cut Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Red Robin Gourmet Burgers presently has an average rating of “Buy” and an average price target of $83.46.

The company’s 50 day moving average is $49.99 and its 200-day moving average is $58.33. The firm has a market capitalization of $635.54 million and a P/E ratio of 14.45.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings results 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. The business earned $402.10 million during the quarter, compared to the consensus estimate of $416.30 million. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. On average, equities analysts forecast that Red Robin Gourmet Burgers Inc. will post $3.39 earnings per share for the current fiscal year.

In other news, COO Carin Stutz acquired 960 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was acquired at an average price of $52.20 per share, for a total transaction of $50,112.00. Following the completion of the acquisition, the chief operating officer now directly owns 2,218 shares in the company, valued at approximately $115,779.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephen E. Carley acquired 1,050 shares of the business’s stock in a transaction dated Friday, May 20th. The stock was purchased at an average price of $48.04 per share, with a total value of $50,442.00. Following the acquisition, the chief executive officer now owns 14,974 shares of the company’s stock, valued at $719,350.96. The disclosure for this purchase can be found here.

Several hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System raised its stake in shares of Red Robin Gourmet Burgers by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 26,196 shares of the company’s stock valued at $1,617,000 after buying an additional 400 shares during the period. Rhumbline Advisers increased its stake in shares of Red Robin Gourmet Burgers by 8.3% in the fourth quarter. Rhumbline Advisers now owns 18,461 shares of the company’s stock valued at $1,140,000 after buying an additional 1,410 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Red Robin Gourmet Burgers by 5.1% in the fourth quarter. New York State Common Retirement Fund now owns 45,787 shares of the company’s stock valued at $2,827,000 after buying an additional 2,226 shares in the last quarter. Mutual of America Capital Management LLC increased its stake 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 in the last quarter. Finally, Victory Capital Management Inc. increased its stake 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 in 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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