Raymond James Increases Red Robin Gourmet Burgers Price Target to $90.00 (RRGB)
Research analysts at Raymond James boosted their price target on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) from $80.00 to $90.00 in a report released on Tuesday, Stock Ratings Network reports. Raymond James’ price target would suggest a potential upside of 22.43% from the stock’s previous close.
RRGB has been the subject of a number of other recent research reports. Analysts at Wunderlich upgraded shares of Red Robin Gourmet Burgers from an “underperform” rating to a “buy” rating in a research note on Monday, February 10th. They now have a $80.00 price target on the stock. Separately, analysts at Bank of America upgraded shares of Red Robin Gourmet Burgers from an “underperform” rating to a “buy” rating in a research note on Monday, February 10th. They now have a $80.00 price target on the stock. Finally, analysts at Longbow Research initiated coverage on shares of Red Robin Gourmet Burgers in a research note on Friday, February 7th. They set a “buy” rating on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $83.73.
Red Robin Gourmet Burgers (NASDAQ:RRGB) opened at 73.51 on Tuesday. Red Robin Gourmet Burgers has a 1-year low of $39.76 and a 1-year high of $86.83. The stock has a 50-day moving average of $67.99 and a 200-day moving average of $70.31. The company has a market cap of $1.055 billion and a P/E ratio of 33.18.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Friday, February 14th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. The company had revenue of $241.90 million for the quarter, compared to the consensus estimate of $243.16 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Analysts expect that Red Robin Gourmet Burgers will post $2.79 EPS for the current fiscal year.
Red Robin Gourmet Burgers, Inc (NASDAQ:RRGB) together with its subsidiaries, is a casual dining restaurant chain focused on serving gourmet burgers.
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