Red Robin Gourmet Burgers (RRGB) Coverage Initiated by Analysts at Gordon Haskett

Gordon Haskett assumed coverage on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) in a research report report published on Thursday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $38.00 target price on the restaurant operator’s stock.

RRGB has been the topic of a number of other research reports. Morgan Stanley lowered their target price on Red Robin Gourmet Burgers from $47.00 to $44.00 and set an equal weight rating on the stock in a research note on Friday, August 24th. BidaskClub downgraded Red Robin Gourmet Burgers from a hold rating to a sell rating in a research note on Thursday, September 13th. Zacks Investment Research downgraded Red Robin Gourmet Burgers from a hold rating to a sell rating in a research note on Tuesday, July 10th. Stifel Nicolaus lowered their target price on Red Robin Gourmet Burgers from $55.00 to $45.00 and set a hold rating on the stock in a research note on Thursday, August 2nd. Finally, Canaccord Genuity downgraded Red Robin Gourmet Burgers from a buy rating to a hold rating and lowered their target price for the stock from $65.00 to $42.00 in a research note on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $52.17.

Shares of RRGB traded down $3.33 during mid-day trading on Thursday, reaching $34.29. The company had a trading volume of 20,454 shares, compared to its average volume of 231,982. Red Robin Gourmet Burgers has a 52-week low of $36.20 and a 52-week high of $70.10. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $498.81 million, a price-to-earnings ratio of 14.75, a PEG ratio of 2.08 and a beta of 0.28.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Tuesday, August 21st. The restaurant operator reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. Red Robin Gourmet Burgers had a return on equity of 7.20% and a net margin of 1.01%. The firm had revenue of $315.39 million for the quarter, compared to the consensus estimate of $317.38 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Red Robin Gourmet Burgers will post 1.91 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Foundry Partners LLC purchased a new position in Red Robin Gourmet Burgers during the third quarter worth approximately $4,794,000. Bank of New York Mellon Corp boosted its position in Red Robin Gourmet Burgers by 9.5% during the second quarter. Bank of New York Mellon Corp now owns 179,038 shares of the restaurant operator’s stock worth $8,343,000 after purchasing an additional 15,571 shares in the last quarter. GMT Capital Corp purchased a new position in Red Robin Gourmet Burgers during the second quarter worth approximately $4,804,000. Putnam Investments LLC boosted its position in Red Robin Gourmet Burgers by 200.4% during the second quarter. Putnam Investments LLC now owns 128,304 shares of the restaurant operator’s stock worth $5,979,000 after purchasing an additional 85,591 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Red Robin Gourmet Burgers during the second quarter worth approximately $496,000.

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. As of December 31, 2017, it operated 480 company-owned restaurants located in 39 states and 2 Canadian provinces; and had 86 casual-dining restaurants operated by franchisees in 15 states.

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

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