Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)‘s stock had its “strong-buy” rating restated by Raymond James Financial, Inc. in a note issued to investors on Tuesday. They currently have a $85.00 price target on the restaurant operator’s stock. Raymond James Financial, Inc.’s price objective indicates a potential upside of 32.71% from the company’s previous close.

Several other research analysts have also issued reports on the company. BidaskClub lowered Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Morgan Stanley raised their price target on Red Robin Gourmet Burgers from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, May 30th. Canaccord Genuity upgraded Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and raised their target price for the stock from $72.00 to $90.00 in a report on Friday, May 26th. Bank of America Corporation raised their target price on Red Robin Gourmet Burgers from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $70.00 target price on shares of Red Robin Gourmet Burgers in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $75.30.

Shares of Red Robin Gourmet Burgers (RRGB) traded up 1.33% during mid-day trading on Tuesday, hitting $64.90. 91,563 shares of the company were exchanged. The stock has a market cap of $835.20 million, a PE ratio of 95.16 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’s 50-day moving average price is $65.36 and its 200 day moving average price is $57.77.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Tuesday, May 16th. The restaurant operator reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.31. The business had revenue of $418.60 million during the quarter, compared to analyst estimates of $416.48 million. Red Robin Gourmet Burgers had a return on equity of 8.73% and a net margin of 0.69%. Red Robin Gourmet Burgers’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.27 earnings per share. On average, equities analysts anticipate that Red Robin Gourmet Burgers will post $2.93 EPS for the current fiscal year.

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In related news, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the 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 completion of the sale, the director now directly owns 6,547 shares of the company’s stock, valued at $470,074.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glenn B. Kaufman sold 4,000 shares of the stock in a transaction on Friday, May 26th. The shares were sold at an average price of $72.25, for a total value of $289,000.00. The disclosure for this sale can be found here. Corporate insiders own 2.66% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Red Robin Gourmet Burgers during the fourth quarter valued at about $840,000. Wealthsource Partners LLC raised its stake in Red Robin Gourmet Burgers by 6.2% in the first quarter. Wealthsource Partners LLC now owns 6,905 shares of the restaurant operator’s stock valued at $404,000 after buying an additional 405 shares in the last quarter. State Street Corp raised its stake 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. Foundry Partners LLC raised its stake in Red Robin Gourmet Burgers by 0.3% in the first quarter. Foundry Partners LLC now owns 114,375 shares of the restaurant operator’s stock valued at $6,685,000 after buying an additional 300 shares in the last quarter. Finally, Comerica Bank raised its stake in Red Robin Gourmet Burgers by 4.3% in the first quarter. Comerica Bank now owns 48,974 shares of the restaurant operator’s stock valued at $2,926,000 after buying an additional 2,029 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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