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

Red Robin Gourmet Burgers (NASDAQ:RRGB) had its price objective reduced by investment analysts at Maxim Group from $54.00 to $46.00 in a research report issued on Friday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Maxim Group’s target price would indicate a potential upside of 45.11% from the company’s previous close. The analysts noted that the move was a valuation call.

A number of other equities analysts also recently weighed in on RRGB. Zacks Investment Research downgraded Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. BidaskClub downgraded Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. Canaccord Genuity downgraded Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating and dropped their target price for the company from $65.00 to $42.00 in a report on Thursday, August 2nd. Raymond James downgraded Red Robin Gourmet Burgers from an “outperform” rating to a “market perform” rating and set a $75.00 target price on the stock. in a report on Thursday, August 2nd. Finally, Stifel Nicolaus dropped their target price on Red Robin Gourmet Burgers from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $50.23.

Shares of RRGB opened at $31.70 on Friday. The stock has a market capitalization of $412.00 million, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.72 and a beta of 0.58. Red Robin Gourmet Burgers has a fifty-two week low of $30.02 and a fifty-two week high of $68.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.35 and a current ratio of 0.55.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Tuesday, August 21st. The restaurant operator reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The company had revenue of $315.39 million for the quarter, compared to the consensus estimate of $317.38 million. Red Robin Gourmet Burgers had a return on equity of 7.20% and a net margin of 1.01%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. On average, sell-side analysts expect that Red Robin Gourmet Burgers will post 1.91 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $692,000. Voya Investment Management LLC grew its stake 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 valued at $18,553,000 after buying an additional 193,143 shares in the last quarter. Alambic Investment Management L.P. grew its stake in shares of Red Robin Gourmet Burgers by 36.2% in the 2nd quarter. Alambic Investment Management L.P. now owns 51,161 shares of the restaurant operator’s stock valued at $2,384,000 after buying an additional 13,600 shares in the last quarter. Putnam Investments LLC grew its stake in shares of Red Robin Gourmet Burgers by 200.4% in the 2nd quarter. Putnam Investments LLC now owns 128,304 shares of the restaurant operator’s stock valued at $5,979,000 after buying an additional 85,591 shares in the last quarter. Finally, Rothschild Asset Management Inc. grew its stake in shares of Red Robin Gourmet Burgers by 35.0% in the 2nd quarter. Rothschild Asset Management Inc. now owns 47,632 shares of the restaurant operator’s stock valued at $2,220,000 after buying an additional 12,349 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.

Featured Article: Technical Analysis of Stocks, How Can It Help

Analyst Recommendations for Red Robin Gourmet Burgers (NASDAQ:RRGB)

Receive News & Ratings for Red Robin Gourmet Burgers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Robin Gourmet Burgers and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply