Red Robin Gourmet Burgers Inc. (RRGB) Sets New 52-Week Low at $44.50
Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $44.50 and last traded at $44.98, with a volume of 97,048 shares. The stock had previously closed at $45.77.
A number of equities analysts recently commented on RRGB shares. Bank of America Corp. lowered Red Robin Gourmet Burgers from a “buy” rating to an “underperform” rating and set a $50.00 price objective on the stock. in a research note on Tuesday, September 13th. Canaccord Genuity started coverage on Red Robin Gourmet Burgers in a research note on Monday, August 22nd. They issued a “hold” rating and a $53.00 price objective on the stock. Zacks Investment Research raised Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th. Maxim Group reaffirmed a “buy” rating and issued a $77.00 price objective (down from $81.00) on shares of Red Robin Gourmet Burgers in a research note on Friday, June 17th. Finally, Jefferies Group lowered Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating and set a $55.00 price target on the stock. in a research note on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $71.69.
The firm has a 50-day moving average price of $49.41 and a 200 day moving average price of $55.11. The stock has a market cap of $602.57 million, a P/E ratio of 15.10 and a beta of 0.98.
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Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.05. Red Robin Gourmet Burgers had a return on equity of 12.47% and a net margin of 3.27%. The company had revenue of $305.50 million for the quarter, compared to the consensus estimate of $313.63 million. During the same quarter in the previous year, the business earned $0.78 earnings per share. Red Robin Gourmet Burgers’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts predict that Red Robin Gourmet Burgers Inc. will post $3.19 EPS for the current fiscal year.
In other Red Robin Gourmet Burgers news, COO Carin Stutz acquired 1,077 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were purchased at an average cost of $46.40 per share, for a total transaction of $49,972.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stuart B. Brown sold 5,846 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $53.15, for a total value of $310,714.90. Following the completion of the sale, the chief financial officer now owns 15,790 shares in the company, valued at $839,238.50. The disclosure for this sale can be found here. Corporate insiders own 2.66% of the company’s stock.
Several large investors have recently modified their holdings of the company. Alliancebernstein L.P. raised its stake in shares of Red Robin Gourmet Burgers by 1,501.8% in the second quarter. Alliancebernstein L.P. now owns 366,330 shares of the company’s stock worth $17,375,000 after buying an additional 343,460 shares in the last quarter. Investment Counselors of Maryland LLC acquired a new stake in shares of Red Robin Gourmet Burgers during the second quarter worth $15,460,000. Point72 Asset Management L.P. acquired a new stake in shares of Red Robin Gourmet Burgers during the second quarter worth $15,092,000. Glenmede Trust Co. NA raised its stake in shares of Red Robin Gourmet Burgers by 179.2% in the second quarter. Glenmede Trust Co. NA now owns 356,345 shares of the company’s stock worth $16,900,000 after buying an additional 228,702 shares in the last quarter. Finally, Lombardia Capital Partners LLC acquired a new stake in shares of Red Robin Gourmet Burgers during the second quarter worth $7,821,000.
About Red Robin Gourmet Burgers
Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates and franchises casual-dining restaurants and fast-casual restaurants in North America and focuses on serving a selection of gourmet burgers. The Company is primarily engaged in the sale of food and beverages at the Company-owned restaurants.
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