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Red Robin Gourmet Burgers (NASDAQ:RRGB) dropped 1.9% during mid-day trading on Monday after Telsey Advisory Group lowered their price target on the stock from $97.00 to $65.00, American Banking and Market News reports. Telsey Advisory Group currently has a not rated rating on the stock. Red Robin Gourmet Burgers traded as low as $53.57 and last traded at $53.83, with a volume of 468,444 shares. The stock had previously closed at $54.90.

A number of other firms have also recently commented on RRGB. Analysts at Miller Tabak cut their price target on shares of Red Robin Gourmet Burgers from $84.00 to $70.00 in a research note on Thursday. They now have a “buy” rating on the stock. 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $80.56.

The stock has a 50-day moving average of $66.16 and a 200-day moving average of $69.44. The company has a market cap of $770.1 million and a price-to-earnings ratio of 24.26.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Thursday, August 14th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the 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 $2.73 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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