Shares of Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) gapped up prior to trading on Monday . The stock had previously closed at $47.24, but opened at $47.33. Red Robin Gourmet Burgers shares last traded at $48.82, with a volume of 173,749 shares changing hands.

RRGB has been the topic of a number of recent analyst reports. Maxim Group restated a “buy” rating and issued a $77.00 price target (down from $81.00) on shares of Red Robin Gourmet Burgers in a report on Friday, June 17th. Sterne Agee CRT restated a “neutral” rating on shares of Red Robin Gourmet Burgers in a report on Monday, May 16th. Jefferies Group cut shares of Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating and set a $55.00 price target on the stock. in a report on Tuesday, July 26th. Morgan Stanley restated a “hold” rating on shares of Red Robin Gourmet Burgers in a report on Wednesday, May 18th. Finally, Zacks Investment Research lowered shares of Red Robin Gourmet Burgers from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 19th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Red Robin Gourmet Burgers currently has a consensus rating of “Buy” and an average price target of $82.60.

The firm has a market capitalization of $661.88 million and a P/E ratio of 15.05. The stock has a 50-day moving average price of $49.15 and a 200-day moving average price of $57.86.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.05. The business had revenue of $305.50 million for the quarter, compared to the consensus estimate of $313.63 million. During the same quarter in the previous year, the business earned $0.78 EPS. Red Robin Gourmet Burgers’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts predict that Red Robin Gourmet Burgers Inc. will post $3.39 earnings per share for the current fiscal year.

In related news, COO Carin Stutz acquired 960 shares of the stock in a transaction dated Friday, May 27th. The stock was acquired at an average cost of $52.20 per share, with a total value of $50,112.00. Following the completion of the transaction, the chief operating officer now owns 2,218 shares in the company, valued at approximately $115,779.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stuart I. Oran sold 1,200 shares of the business’s stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $52.62, for a total value of $63,144.00. The disclosure for this sale can be found here.

Other institutional investors recently made changes to their positions in the company. California State Teachers Retirement System increased its position 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 worth $1,617,000 after buying an additional 400 shares in the last quarter. Rhumbline Advisers increased its position 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 worth $1,140,000 after buying an additional 1,410 shares in the last quarter. New York State Common Retirement Fund increased its position 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 worth $2,827,000 after buying an additional 2,226 shares in the last quarter. Victory Capital Management Inc. increased 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 worth $18,905,000 after buying an additional 83,378 shares in the last quarter. Finally, UBS Oconnor LLC bought a new position in shares of Red Robin Gourmet Burgers during the fourth quarter worth approximately $2,964,000.

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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