Red Robin Gourmet Burgers (NASDAQ:RRGB) PT Lowered to $42.00

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Red Robin Gourmet Burgers (NASDAQ:RRGB) had its target price lowered by Maxim Group from $44.00 to $42.00 in a research note released on Thursday morning, Briefing.com Automated Import reports. The firm currently has a buy rating on the restaurant operator’s stock.

Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Red Robin Gourmet Burgers from a sell rating to a strong-buy rating and set a $35.00 target price for the company in a research report on Monday, August 5th. Stifel Nicolaus decreased their target price on Red Robin Gourmet Burgers from $35.00 to $32.00 and set a hold rating for the company in a research report on Wednesday. Morgan Stanley raised their target price on Red Robin Gourmet Burgers from $28.00 to $30.00 and gave the company an equal weight rating in a research report on Monday, August 26th. ValuEngine lowered Red Robin Gourmet Burgers from a strong-buy rating to a buy rating in a research report on Tuesday, October 29th. Finally, Loop Capital decreased their target price on Red Robin Gourmet Burgers to $33.00 and set a hold rating for the company in a research report on Wednesday. Two analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $34.00.

Shares of Red Robin Gourmet Burgers stock traded down $0.24 on Thursday, reaching $26.68. 288,000 shares of the company’s stock were exchanged, compared to its average volume of 338,330. Red Robin Gourmet Burgers has a 52 week low of $24.57 and a 52 week high of $36.85. The company has a market capitalization of $414.57 million, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 3.06 and a beta of 1.23. The firm’s 50-day moving average is $31.86 and its two-hundred day moving average is $31.95. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.28 and a current ratio of 0.42.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Tuesday, November 5th. The restaurant operator reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). Red Robin Gourmet Burgers had a negative net margin of 0.82% and a positive return on equity of 4.87%. The business had revenue of $294.22 million for the quarter, compared to analysts’ expectations of $289.52 million. During the same period in the prior year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. On average, analysts expect that Red Robin Gourmet Burgers will post 0.85 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in RRGB. Morgan Stanley increased its holdings in Red Robin Gourmet Burgers by 1,720.5% in the 2nd quarter. Morgan Stanley now owns 232,040 shares of the restaurant operator’s stock worth $7,093,000 after acquiring an additional 219,294 shares during the last quarter. B. Riley Financial Inc. increased its holdings in Red Robin Gourmet Burgers by 1,355.3% in the 2nd quarter. B. Riley Financial Inc. now owns 218,301 shares of the restaurant operator’s stock worth $6,673,000 after acquiring an additional 203,301 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in Red Robin Gourmet Burgers in the 2nd quarter worth about $2,931,000. Coatue Management LLC purchased a new stake in Red Robin Gourmet Burgers in the 2nd quarter worth about $2,512,000. Finally, Vanguard Group Inc. increased its holdings in Red Robin Gourmet Burgers by 10.0% in the 2nd quarter. Vanguard Group Inc. now owns 871,408 shares of the restaurant operator’s stock worth $26,639,000 after acquiring an additional 79,427 shares during the last quarter.

About Red Robin Gourmet Burgers

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

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