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

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

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

Shares of Red Robin Gourmet Burgers stock opened at $32.51 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of 0.59. The firm has a market cap of $411.99 million, a price-to-earnings ratio of 13.06, a P/E/G ratio of 1.72 and a beta of 0.58. Red Robin Gourmet Burgers has a 12-month low of $30.02 and a 12-month high of $67.75.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Tuesday, August 21st. The restaurant operator reported $0.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.46. The business had revenue of $315.39 million for 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 company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 EPS. On average, analysts forecast that Red Robin Gourmet Burgers will post 1.91 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Red Robin Gourmet Burgers by 7.8% in the 2nd quarter. BlackRock Inc. now owns 1,769,762 shares of the restaurant operator’s stock worth $82,473,000 after buying an additional 128,501 shares during the period. Investment Counselors of Maryland LLC grew its position in shares of Red Robin Gourmet Burgers by 22.2% in the 3rd quarter. Investment Counselors of Maryland LLC now owns 543,347 shares of the restaurant operator’s stock worth $21,815,000 after buying an additional 98,549 shares during the period. American Century Companies Inc. grew its position in shares of Red Robin Gourmet Burgers by 7.3% in the 3rd quarter. American Century Companies Inc. now owns 413,181 shares of the restaurant operator’s stock worth $16,589,000 after buying an additional 28,171 shares during the period. Voya Investment Management LLC grew its position in shares of Red Robin Gourmet Burgers by 94.2% in the 2nd quarter. Voya Investment Management LLC now owns 398,125 shares of the restaurant operator’s stock worth $18,553,000 after buying an additional 193,143 shares during the period. Finally, Smith Graham & Co. Investment Advisors LP grew its position in shares of Red Robin Gourmet Burgers by 24.0% in the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 213,607 shares of the restaurant operator’s stock worth $8,576,000 after buying an additional 41,320 shares during the period.

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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