Red Robin Gourmet Burgers (NASDAQ:RRGB) was upgraded by equities research analysts at Maxim Group from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, The Fly reports. The firm currently has a $49.00 target price on the restaurant operator’s stock, up from their previous target price of $30.00. Maxim Group’s price target would indicate a potential upside of 46.36% from the stock’s current price.
A number of other brokerages have also recently issued reports on RRGB. Loop Capital dropped their price objective on shares of Red Robin Gourmet Burgers to $31.00 and set a “hold” rating for the company in a research note on Thursday, April 4th. Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 12th. ValuEngine raised shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. TheStreet lowered shares of Red Robin Gourmet Burgers from a “c” rating to a “d+” rating in a report on Friday, March 15th. Finally, Morgan Stanley lowered their target price on shares of Red Robin Gourmet Burgers from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $42.70.
Shares of Red Robin Gourmet Burgers stock opened at $33.48 on Friday. The firm has a market capitalization of $330.12 million, a PE ratio of 19.35, a PEG ratio of 2.09 and a beta of 1.02. Red Robin Gourmet Burgers has a 1-year low of $24.57 and a 1-year high of $54.95. The company has a quick ratio of 0.30, a current ratio of 0.44 and a debt-to-equity ratio of 1.90.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Thursday, May 30th. The restaurant operator reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.29). The company had revenue of $409.87 million for the quarter, compared to analyst estimates of $408.98 million. Red Robin Gourmet Burgers had a negative net margin of 0.77% and a positive return on equity of 4.14%. Red Robin Gourmet Burgers’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share. As a group, analysts anticipate that Red Robin Gourmet Burgers will post 1.26 EPS for the current year.
In related news, Director Glenn B. Kaufman purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average price of $26.50 per share, with a total value of $26,500.00. Following the completion of the purchase, the director now directly owns 29,733 shares in the company, valued at $787,924.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Vintage Capital Management Llc purchased 203,336 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was bought at an average cost of $25.97 per share, with a total value of $5,280,635.92. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 206,336 shares of company stock valued at $5,359,136. Company insiders own 2.08% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. SEI Investments Co boosted its position in shares of Red Robin Gourmet Burgers by 20.8% during the first quarter. SEI Investments Co now owns 29,401 shares of the restaurant operator’s stock valued at $848,000 after purchasing an additional 5,065 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Red Robin Gourmet Burgers during the first quarter valued at $208,000. Pinebridge Investments L.P. raised its stake in Red Robin Gourmet Burgers by 13.4% during the first quarter. Pinebridge Investments L.P. now owns 20,147 shares of the restaurant operator’s stock valued at $580,000 after buying an additional 2,379 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Red Robin Gourmet Burgers by 8.8% in the first quarter. Geode Capital Management LLC now owns 153,857 shares of the restaurant operator’s stock worth $4,432,000 after purchasing an additional 12,432 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Red Robin Gourmet Burgers by 33.2% in the first quarter. Renaissance Technologies LLC now owns 53,266 shares of the restaurant operator’s stock worth $1,535,000 after purchasing an additional 13,266 shares during the last quarter.
Red Robin Gourmet Burgers Company Profile
Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants in the United States and Canada. The company's restaurants primarily offer burgers; various appetizers, salads, soups, seafood, and other entrees; and desserts, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.
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