Trade Report: The Red Robin Gourmet Burgers Inc. (RRGB) Price Target Lowered to $63.00 at Maxim Group

The Red Robin Gourmet Burgers Inc. (RRGB) Price Target Lowered to $63.00 at Maxim Group

Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) had its price target reduced by Maxim Group from $71.00 to $63.00 in a report issued on Tuesday morning. Maxim Group currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on RRGB. Bank of America Corp. lowered shares of Red Robin Gourmet Burgers from a buy rating to an underperform rating and set a $50.00 price objective on the stock. in a research note on Tuesday, September 13th. Canaccord Genuity began coverage on shares of Red Robin Gourmet Burgers in a research note on Monday, August 22nd. They set a hold rating and a $53.00 price objective on the stock. Zacks Investment Research upgraded shares of Red Robin Gourmet Burgers from a sell rating to a hold rating in a research note on Wednesday, July 20th. TheStreet lowered shares of Red Robin Gourmet Burgers from a buy rating to a hold rating in a research note on Wednesday, July 6th. Finally, Jefferies Group lowered shares of Red Robin Gourmet Burgers from a buy rating to a hold rating and set a $55.00 price objective on the stock. in a research note on Tuesday, July 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $68.13.

Shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) opened at 45.85 on Tuesday. The stock’s 50 day moving average is $45.10 and its 200-day moving average is $51.45. Red Robin Gourmet Burgers has a 52-week low of $40.85 and a 52-week high of $78.68. The firm has a market capitalization of $609.21 million, a P/E ratio of 15.26 and a beta of 0.78.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Tuesday, August 9th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by $0.05. The company earned $305.50 million during the quarter, compared to analyst estimates of $313.63 million. Red Robin Gourmet Burgers had a net margin of 3.27% and a return on equity of 12.47%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 EPS. On average, equities analysts forecast that Red Robin Gourmet Burgers will post $2.99 earnings per share for the current fiscal year.

In related news, COO Carin Stutz acquired 1,077 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was acquired at an average cost of $46.40 per share, for a total transaction of $49,972.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stuart B. Brown sold 5,846 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $53.15, for a total transaction of $310,714.90. Following the completion of the transaction, the chief financial officer now owns 15,790 shares of the company’s stock, valued at $839,238.50. The disclosure for this sale can be found here. 2.66% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Fund Advisors boosted its position in Red Robin Gourmet Burgers by 1.5% in the second quarter. BlackRock Fund Advisors now owns 874,518 shares of the company’s stock valued at $41,478,000 after buying an additional 12,837 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Red Robin Gourmet Burgers by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 728,451 shares of the company’s stock worth $34,551,000 after buying an additional 23,861 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Red Robin Gourmet Burgers by 12.2% in the second quarter. American Century Companies Inc. now owns 421,462 shares of the company’s stock worth $19,990,000 after buying an additional 45,938 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Red Robin Gourmet Burgers by 1,501.8% in the second quarter. Alliancebernstein L.P. now owns 366,330 shares of the company’s stock worth $17,375,000 after buying an additional 343,460 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in shares of Red Robin Gourmet Burgers by 179.2% in the second quarter. Glenmede Trust Co. NA now owns 356,345 shares of the company’s stock worth $16,900,000 after buying an additional 228,702 shares during the last quarter.

Red Robin Gourmet Burgers Company Profile

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