Red Robin Gourmet Burgers Receives “Neutral” Rating from Zacks (RRGB)
Red Robin Gourmet Burgers (NASDAQ:RRGB)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Wednesday, AnalystRatings.NET reports. They currently have a $77.00 price target on the stock. Zacks‘ price target would indicate a potential upside of 5.29% from the stock’s previous close.
Zacks‘ analyst wrote, “Red Robin posted mixed results for fourth-quarter 2013 with higher earnings but in-line revenues. The company’s fourth-quarter earnings of $0.62 per share beat both the Zacks Consensus Estimate and year-ago quarter’s earnings of $0.59 by 5.1%, on margin expansion. Revenues, however, inched up only 0.5% year over year to $242 million driven by higher franchise royalties, fees and other revenues, partially offset by lower traffic. However, revenues were in line with the Zacks Consensus Estimate. Company-owned restaurants’ comps grew 3.7% driven by 5.1% rise in average guest check, offset by 1.4% fall in guest count. Red Robin has outlined a set of initiatives including menu innovation, effective marketing strategy, unit expansion and remodeling programs to reinvigorate its brands. However, we remain concerned about the incremental labor costs and commodity inflation. Macroeconomic uncertainty also added to the woes. Hence, we prefer to remain Neutral on the stock. “
Shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) traded down 0.71% on Wednesday, hitting $72.61. 149,737 shares of the company’s stock traded hands. Red Robin Gourmet Burgers has a 52 week low of $40.11 and a 52 week high of $86.83. The stock has a 50-day moving average of $67.71 and a 200-day moving average of $70.72. The company has a market cap of $1.042 billion and a price-to-earnings ratio of 32.94.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results on Friday, February 14th. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. Analysts expect that Red Robin Gourmet Burgers will post $2.81 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on RRGB. Analysts at Raymond James raised their price target on shares of Red Robin Gourmet Burgers from $80.00 to $90.00 in a research note on Tuesday. Separately, 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. Finally, 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. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $83.09.
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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