Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Saturday.

Several other equities research analysts have also weighed in on RRGB. Raymond James Financial, Inc. set a $75.00 target price on shares of Red Robin Gourmet Burgers and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a report on Thursday. TheStreet lowered shares of Red Robin Gourmet Burgers from a “b-” rating to a “c” rating in a report on Wednesday. Maxim Group reissued a “buy” rating and set a $75.00 price objective on shares of Red Robin Gourmet Burgers in a report on Wednesday. Finally, Canaccord Genuity reissued a “buy” rating and set a $80.00 price objective (down previously from $90.00) on shares of Red Robin Gourmet Burgers in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $72.80.

Shares of Red Robin Gourmet Burgers (NASDAQ RRGB) opened at 60.60 on Friday. The company has a 50-day moving average of $62.48 and a 200 day moving average of $58.48. The company has a market capitalization of $783.80 million, a P/E ratio of 93.95 and a beta of 0.62. Red Robin Gourmet Burgers has a 12 month low of $40.85 and a 12 month high of $74.11.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.10. Red Robin Gourmet Burgers had a net margin of 0.64% and a return on equity of 8.00%. The business had revenue of $315.80 million for the quarter, compared to analyst estimates of $315.69 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts forecast that Red Robin Gourmet Burgers will post $2.75 EPS for the current year.

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In other Red Robin Gourmet Burgers news, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $71.80, for a total transaction of $211,522.80. Following the transaction, the director now directly owns 6,547 shares in the company, valued at approximately $470,074.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Glenn B. Kaufman sold 4,000 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $72.25, for a total transaction of $289,000.00. The disclosure for this sale can be found here. Corporate insiders own 2.66% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its position in Red Robin Gourmet Burgers by 10.3% in the first quarter. Public Employees Retirement System of Ohio now owns 1,759 shares of the restaurant operator’s stock worth $103,000 after buying an additional 164 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in Red Robin Gourmet Burgers during the second quarter worth about $105,000. Benjamin F. Edwards & Company Inc. increased its position in Red Robin Gourmet Burgers by 74.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,431 shares of the restaurant operator’s stock worth $142,000 after buying an additional 1,037 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Red Robin Gourmet Burgers during the second quarter worth about $149,000. Finally, Seven Eight Capital LP acquired a new position in Red Robin Gourmet Burgers during the second quarter worth about $163,000.

Red Robin Gourmet Burgers Company Profile

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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