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Analysts at Miller Tabak cut their price objective on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) from $84.00 to $70.00 in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the stock. Miller Tabak’s price objective indicates a potential upside of 8.44% from the company’s current price.

Red Robin Gourmet Burgers (NASDAQ:RRGB) traded down 18.96% on Thursday, hitting $52.31. 3,119,690 shares of the company’s stock traded hands. Red Robin Gourmet Burgers has a one year low of $58.00 and a one year high of $86.83. The stock has a 50-day moving average of $67.24 and a 200-day moving average of $69.63. The company has a market cap of $747.6 million and a price-to-earnings ratio of 27.10.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Thursday, August 14th. The company reported $0.68 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.90 by $0.22. The company had revenue of $256.10 million for the quarter, compared to the consensus estimate of $263.37 million. Analysts expect that Red Robin Gourmet Burgers will post $2.86 EPS for the current fiscal year.

Separately, analysts at Longbow Research downgraded shares of Red Robin Gourmet Burgers from a “buy” rating to a “neutral” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Red Robin Gourmet Burgers has an average rating of “Buy” and a consensus target price of $82.10.

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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