Red Robin Gourmet Burgers Inc. (RRGB) Receives $71.69 Consensus PT from Analysts
Shares of Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) have received a consensus rating of “Hold” from the thirteen ratings firms that are covering the stock. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $71.69.
Several analysts have issued reports on the company. Zacks Investment Research raised Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Maxim Group decreased their price objective on Red Robin Gourmet Burgers from $77.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, August 4th. TheStreet cut Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Standpoint Research began coverage on Red Robin Gourmet Burgers in a report on Monday, August 8th. They issued a “buy” rating and a $64.00 price objective for the company. Finally, Bank of America Corp. cut Red Robin Gourmet Burgers from a “buy” rating to an “underperform” rating and set a $50.00 price objective for the company. in a report on Tuesday, September 13th.
In other news, CFO Stuart B. Brown sold 5,846 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $53.15, for a total transaction of $310,714.90. Following the completion of the sale, the chief financial officer now owns 15,790 shares in the company, valued at $839,238.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Carin Stutz acquired 1,077 shares of Red Robin Gourmet Burgers stock in a transaction dated Thursday, September 15th. The shares were purchased at an average price of $46.40 per share, with a total value of $49,972.80. The disclosure for this purchase can be found here. Insiders own 2.66% of the company’s stock.
Several large investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in Red Robin Gourmet Burgers during the second quarter worth $118,000. Mason Street Advisors LLC acquired a new stake in Red Robin Gourmet Burgers during the second quarter worth $127,000. BlackRock Inc. increased its stake in Red Robin Gourmet Burgers by 208.5% in the second quarter. BlackRock Inc. now owns 3,705 shares of the company’s stock worth $176,000 after buying an additional 2,504 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Red Robin Gourmet Burgers during the first quarter worth $245,000. Finally, Bank of Montreal Can acquired a new stake in Red Robin Gourmet Burgers during the second quarter worth $197,000.
Red Robin Gourmet Burgers (NASDAQ:RRGB) opened at 43.60 on Friday. The firm has a market cap of $579.31 million, a PE ratio of 14.51 and a beta of 0.78. The firm has a 50-day moving average price of $47.30 and a 200 day moving average price of $53.07. Red Robin Gourmet Burgers has a 12-month low of $42.95 and a 12-month high of $82.66.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.05. Red Robin Gourmet Burgers had a net margin of 3.27% and a return on equity of 12.47%. The firm earned $305.50 million during the quarter, compared to analyst estimates of $313.63 million. During the same period in the prior year, the business earned $0.78 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts forecast that Red Robin Gourmet Burgers will post $3.17 EPS for the current year.
Red Robin Gourmet Burgers Company Profile
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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