Several other analysts have also recently commented on the company. Bank of America Corporation lifted their price target on Red Robin Gourmet Burgers from $80.00 to $85.00 and gave the company a buy rating in a report on Thursday, May 25th. Stephens restated an overweight rating and issued a $75.00 price target on shares of Red Robin Gourmet Burgers in a report on Friday, May 19th. Zacks Investment Research upgraded Red Robin Gourmet Burgers from a hold rating to a buy rating and set a $80.00 price target for the company in a report on Friday, May 19th. Morgan Stanley restated an equal weight rating and issued a $58.00 price target (up previously from $53.00) on shares of Red Robin Gourmet Burgers in a report on Wednesday, May 17th. Finally, Maxim Group lifted their price target on Red Robin Gourmet Burgers from $70.00 to $75.00 and gave the company a buy rating in a report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $72.80.
Shares of Red Robin Gourmet Burgers (NASDAQ RRGB) opened at 60.60 on Wednesday. Red Robin Gourmet Burgers has a one year low of $40.85 and a one year high of $74.11. The stock has a market cap of $783.80 million, a price-to-earnings ratio of 93.95 and a beta of 0.62. The company has a 50 day moving average of $62.48 and a 200-day moving average of $58.48.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 EPS for the quarter, beating the consensus estimate of $0.51 by $0.10. The company had revenue of $315.80 million during the quarter, compared to analysts’ expectations of $315.69 million. Red Robin Gourmet Burgers had a return on equity of 8.00% and a net margin of 0.64%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 EPS. On average, analysts anticipate that Red Robin Gourmet Burgers will post $2.75 earnings per share for the current year.
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In other news, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $71.80, for a total transaction of $211,522.80. Following the completion of the sale, the director now owns 6,547 shares in the company, valued at approximately $470,074.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glenn B. Kaufman sold 4,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $72.25, for a total value of $289,000.00. The disclosure for this sale can be found here. 2.66% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of RRGB. ClariVest Asset Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the second quarter worth about $105,000. Public Employees Retirement System of Ohio boosted its stake in shares of Red Robin Gourmet Burgers by 10.3% in the first quarter. Public Employees Retirement System of Ohio now owns 1,759 shares of the restaurant operator’s stock worth $103,000 after buying an additional 164 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the second quarter worth about $149,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Red Robin Gourmet Burgers by 74.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,431 shares of the restaurant operator’s stock worth $142,000 after buying an additional 1,037 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in shares of Red Robin Gourmet Burgers during the second quarter worth about $163,000.
Red Robin Gourmet Burgers Company Profile
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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