Red Robin Gourmet Burgers, Inc. (RRGB) Shares Rating Lowered by Standpoint Research

Red Robin Gourmet Burgers, Inc. (RRGB) Shares Rating Lowered by Standpoint Research

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) was downgraded by stock analysts at Standpoint Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

A number of other brokerages also recently issued reports on RRGB. Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 21st. Bank of America Corp raised shares of Red Robin Gourmet Burgers from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research report on Wednesday, December 14th. Maxim Group cut their price objective on shares of Red Robin Gourmet Burgers from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, January 12th. Jefferies Group LLC reissued a “hold” rating and set a $56.00 price objective on shares of Red Robin Gourmet Burgers in a research report on Monday, January 9th. Finally, Canaccord Genuity reissued a “hold” rating and set a $45.00 price objective on shares of Red Robin Gourmet Burgers in a research report on Sunday, January 8th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $65.25.

Red Robin Gourmet Burgers (NASDAQ:RRGB) traded up 3.91% during midday trading on Tuesday, reaching $57.10. The company’s stock had a trading volume of 453,988 shares. Red Robin Gourmet Burgers has a one year low of $40.85 and a one year high of $67.05. The firm has a market cap of $734.13 million, a P/E ratio of 65.63 and a beta of 0.85. The firm has a 50 day moving average price of $49.88 and a 200 day moving average price of $49.49.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Tuesday, February 21st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Red Robin Gourmet Burgers had a net margin of 2.49% and a return on equity of 11.87%. The firm earned $291.46 million during the quarter, compared to the consensus estimate of $291.11 million. During the same quarter in the previous year, the firm posted $0.86 EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts forecast that Red Robin Gourmet Burgers will post $2.73 EPS for the current fiscal year.

In other Red Robin Gourmet Burgers news, CFO Guy J. Constant acquired 5,000 shares of the business’s stock in a transaction dated Friday, February 24th. The stock was purchased at an average price of $47.30 per share, with a total value of $236,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.66% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan increased its position in shares of Red Robin Gourmet Burgers by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,030 shares of the company’s stock valued at $136,000 after buying an additional 50 shares in the last quarter. Cim Investment Mangement Inc. purchased a new position in shares of Red Robin Gourmet Burgers during the fourth quarter valued at $221,000. Ellington Management Group LLC purchased a new position in shares of Red Robin Gourmet Burgers during the fourth quarter valued at $243,000. Numeric Investors LLC purchased a new position in shares of Red Robin Gourmet Burgers during the fourth quarter valued at $310,000. Finally, Suntrust Banks Inc. purchased a new position in shares of Red Robin Gourmet Burgers during the third quarter valued at $323,000.

About Red Robin Gourmet Burgers

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.

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