Red Robin Gourmet Burgers, Inc. (RRGB) Rating Reiterated by Canaccord Genuity

Canaccord Genuity reissued their hold rating on shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) in a report released on Wednesday, May 24th, Marketbeat Ratings reports. Canaccord Genuity currently has a $72.00 target price on the restaurant operator’s stock, up from their prior target price of $62.00.

Several other equities analysts have also recently issued reports on the company. Maxim Group reaffirmed a buy rating and set a $80.00 price objective on shares of Red Robin Gourmet Burgers in a report on Tuesday, May 23rd. BTIG Research reaffirmed a neutral rating on shares of Red Robin Gourmet Burgers in a report on Friday, May 19th. Stephens reaffirmed an overweight rating and set a $75.00 price objective on shares of Red Robin Gourmet Burgers in a report on Friday, May 19th. Zacks Investment Research raised 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. Finally, TheStreet upgraded Red Robin Gourmet Burgers from a c rating to a b- rating in a research note on Thursday, May 18th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $74.22.

Shares of Red Robin Gourmet Burgers (RRGB) traded up 0.16% on Wednesday, hitting $64.35. 332,669 shares of the stock were exchanged. Red Robin Gourmet Burgers has a 12 month low of $40.85 and a 12 month high of $74.11. The company has a 50-day moving average price of $65.44 and a 200 day moving average price of $55.83. The company has a market cap of $828.12 million, a PE ratio of 94.35 and a beta of 0.57.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results on Tuesday, May 16th. The restaurant operator reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.31. Red Robin Gourmet Burgers had a return on equity of 8.73% and a net margin of 0.69%. The firm had revenue of $418.60 million for the quarter, compared to the consensus estimate of $416.48 million. During the same period in the previous year, the business earned $1.27 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts forecast that Red Robin Gourmet Burgers will post $2.91 EPS for the current fiscal year.

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In other news, Director Glenn B. Kaufman sold 4,000 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $71.80, for a total value of $211,522.80. Following the completion of the sale, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $470,074.60. The disclosure for this sale can be found here. 2.66% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of RRGB. Municipal Employees Retirement System of Michigan increased its stake in shares of Red Robin Gourmet Burgers by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,030 shares of the restaurant operator’s stock valued at $136,000 after buying an additional 50 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Red Robin Gourmet Burgers by 1.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,218 shares of the restaurant operator’s stock valued at $247,000 after buying an additional 51 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Red Robin Gourmet Burgers by 1.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,930 shares of the restaurant operator’s stock valued at $391,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Red Robin Gourmet Burgers by 1.5% in the first quarter. Arizona State Retirement System now owns 6,695 shares of the restaurant operator’s stock valued at $391,000 after buying an additional 100 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Red Robin Gourmet Burgers by 0.6% in the first quarter. Teachers Advisors LLC now owns 21,896 shares of the restaurant operator’s stock valued at $1,280,000 after buying an additional 126 shares during the last quarter.

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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