Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

Other analysts have also recently issued reports about the company. TheStreet raised Red Robin Gourmet Burgers from a “c” rating to a “b-” rating in a research note on Thursday, May 18th. Maxim Group reissued a “buy” rating and set a $80.00 target price on shares of Red Robin Gourmet Burgers in a research note on Tuesday, May 23rd. Zacks Investment Research raised Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Friday, May 19th. Bank of America Corporation raised Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $80.00 in a research note on Wednesday, May 17th. Finally, Canaccord Genuity raised Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and increased their target price for the stock from $72.00 to $90.00 in a research note on Friday, May 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Red Robin Gourmet Burgers presently has a consensus rating of “Hold” and an average target price of $74.22.

Shares of Red Robin Gourmet Burgers (NASDAQ RRGB) traded down 1.17% on Friday, reaching $63.45. 159,810 shares of the company were exchanged. The stock has a market capitalization of $816.54 million, a P/E ratio of 93.04 and a beta of 0.64. Red Robin Gourmet Burgers has a 12 month low of $40.85 and a 12 month high of $74.11. The stock has a 50 day moving average price of $67.22 and a 200-day moving average price of $56.73.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its earnings results on Tuesday, May 16th. The restaurant operator reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.31. Red Robin Gourmet Burgers had a return on equity of 8.73% and a net margin of 0.69%. The business had revenue of $418.60 million during the quarter, compared to analysts’ expectations of $416.48 million. During the same period in the prior year, the business earned $1.27 EPS. Red Robin Gourmet Burgers’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities analysts expect that Red Robin Gourmet Burgers will post $2.94 EPS for the current fiscal year.

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In other news, Director Glenn B. Kaufman sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $72.25, for a total transaction of $289,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $71.80, for a total transaction of $211,522.80. Following the transaction, the director now directly owns 6,547 shares of the company’s stock, valued at $470,074.60. The disclosure for this sale can be found here. 2.66% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in Red Robin Gourmet Burgers during the fourth quarter valued at $519,000. State Street Corp boosted its position in Red Robin Gourmet Burgers by 5.3% in the fourth quarter. State Street Corp now owns 285,242 shares of the restaurant operator’s stock valued at $16,090,000 after buying an additional 14,246 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Red Robin Gourmet Burgers by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 838,025 shares of the restaurant operator’s stock valued at $47,265,000 after buying an additional 103,768 shares in the last quarter. Guggenheim Capital LLC boosted its position in Red Robin Gourmet Burgers by 116.8% in the fourth quarter. Guggenheim Capital LLC now owns 61,234 shares of the restaurant operator’s stock valued at $3,454,000 after buying an additional 32,989 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Red Robin Gourmet Burgers by 1.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,930 shares of the restaurant operator’s stock valued at $391,000 after buying an additional 100 shares in the last quarter.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. The Company’s menu features a line of gourmet burgers, which it makes from ground beef, as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings.

Analyst Recommendations for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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