Maxim Group Trims Red Robin Gourmet Burgers (RRGB) Target Price to $46.00

Red Robin Gourmet Burgers (NASDAQ:RRGB) had its target price reduced by Maxim Group from $54.00 to $46.00 in a research report released on Friday, MarketBeat Ratings reports. They currently have a buy rating on the restaurant operator’s stock. The analysts noted that the move was a valuation call.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Red Robin Gourmet Burgers from $47.00 to $44.00 and set an equal weight rating for the company in a report on Friday, August 24th. Zacks Investment Research downgraded shares of Red Robin Gourmet Burgers from a hold rating to a strong sell rating in a report on Monday, August 6th. BidaskClub downgraded shares of Red Robin Gourmet Burgers from a hold rating to a sell rating in a report on Wednesday, July 18th. Bank of America reduced their price target on shares of Red Robin Gourmet Burgers from $64.00 to $54.00 and set a buy rating for the company in a report on Thursday, August 2nd. Finally, Stifel Nicolaus reduced their price target on shares of Red Robin Gourmet Burgers from $55.00 to $45.00 and set a hold rating for the company in a report on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $50.23.

Red Robin Gourmet Burgers stock traded up $0.31 during mid-day trading on Friday, reaching $31.70. The company’s stock had a trading volume of 281,008 shares, compared to its average volume of 273,240. The company has a market cap of $412.00 million, a PE ratio of 14.81, a P/E/G ratio of 1.72 and a beta of 0.58. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.55 and a quick ratio of 0.35. Red Robin Gourmet Burgers has a twelve month low of $30.02 and a twelve month high of $68.00.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings data on Tuesday, August 21st. The restaurant operator reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The firm had revenue of $315.39 million during the quarter, compared to the consensus estimate of $317.38 million. Red Robin Gourmet Burgers had a net margin of 1.01% and a return on equity of 7.20%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 earnings per share. Equities research analysts anticipate that Red Robin Gourmet Burgers will post 1.91 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors LLC acquired a new position in shares of Red Robin Gourmet Burgers during the second quarter valued at $141,000. Winslow Evans & Crocker Inc. boosted its holdings in shares of Red Robin Gourmet Burgers by 75.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 3,500 shares of the restaurant operator’s stock valued at $164,000 after acquiring an additional 1,500 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Red Robin Gourmet Burgers during the second quarter valued at about $207,000. SG Americas Securities LLC bought a new stake in shares of Red Robin Gourmet Burgers during the second quarter valued at about $220,000. Finally, Bessemer Group Inc. raised its stake in shares of Red Robin Gourmet Burgers by 239.3% during the second quarter. Bessemer Group Inc. now owns 9,500 shares of the restaurant operator’s stock valued at $443,000 after purchasing an additional 6,700 shares in 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. 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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