Brokerages Set Red Robin Gourmet Burgers, Inc. (RRGB) Target Price at $71.73
Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) has been assigned a consensus rating of “Hold” from the fourteen research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $71.60.
Several research analysts recently weighed in on the company. Zacks Investment Research cut Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus assumed coverage on Red Robin Gourmet Burgers in a research report on Monday, October 2nd. They set a “hold” rating and a $62.00 price target for the company. Canaccord Genuity reiterated a “buy” rating and set a $80.00 price target on shares of Red Robin Gourmet Burgers in a research report on Sunday, October 1st. BTIG Research reiterated a “buy” rating and set a $70.00 price target (up from $64.00) on shares of Red Robin Gourmet Burgers in a research report on Tuesday, September 12th. Finally, BidaskClub upgraded Red Robin Gourmet Burgers from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th.
Red Robin Gourmet Burgers (NASDAQ:RRGB) traded down 0.77% during midday trading on Wednesday, hitting $64.05. 277,245 shares of the stock traded hands. Red Robin Gourmet Burgers has a 12 month low of $40.85 and a 12 month high of $74.11. The stock has a market cap of $827.97 million, a PE ratio of 99.30 and a beta of 0.65. The company has a 50-day moving average of $61.88 and a 200-day moving average of $62.22.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.10. Red Robin Gourmet Burgers had a return on equity of 8.00% and a net margin of 0.64%. The firm had revenue of $315.80 million during the quarter, compared to the consensus estimate of $315.69 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Red Robin Gourmet Burgers will post $2.80 earnings per share for the current year.
In other Red Robin Gourmet Burgers news, CFO Guy J. Constant acquired 2,500 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $58.88 per share, for a total transaction of $147,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.66% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of RRGB. Public Employees Retirement System of Ohio increased its position in shares of 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 valued at $103,000 after buying an additional 164 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers in the second quarter valued at approximately $105,000. Acadian Asset Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers in the second quarter valued at approximately $149,000. Seven Eight Capital LP purchased a new stake in shares of Red Robin Gourmet Burgers in the second quarter valued at approximately $163,000. Finally, Advisor Group Inc. purchased a new stake in shares of Red Robin Gourmet Burgers in the second quarter valued at approximately $163,000.
About Red Robin Gourmet Burgers
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.
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