Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) was upgraded by investment analysts at TheStreet from a “c” rating to a “b-” rating in a report released on Thursday.
RRGB has been the subject of several other reports. Maxim Group lifted their target price on shares of Red Robin Gourmet Burgers from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, May 11th. Jefferies Group LLC reissued a “hold” rating and set a $52.00 price objective on shares of Red Robin Gourmet Burgers in a research note on Tuesday, April 4th. Canaccord Genuity reissued a “hold” rating and set a $62.00 price objective on shares of Red Robin Gourmet Burgers in a research note on Wednesday. Morgan Stanley reissued an “equal weight” rating and set a $58.00 price objective (up from $53.00) on shares of Red Robin Gourmet Burgers in a research note on Wednesday. Finally, Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research note on Wednesday, March 15th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $68.88.
Shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) traded up 2.60% on Thursday, reaching $72.95. The company had a trading volume of 788,493 shares. The firm has a market capitalization of $938.79 million, a price-to-earnings ratio of 106.96 and a beta of 0.85. The firm has a 50-day moving average price of $59.66 and a 200 day moving average price of $53.40. Red Robin Gourmet Burgers has a 1-year low of $40.85 and a 1-year high of $74.11.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Tuesday, May 16th. The restaurant operator reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.31. The firm had revenue of $418.60 million during the quarter, compared to analysts’ expectations of $416.48 million. Red Robin Gourmet Burgers had a net margin of 2.49% and a return on equity of 11.87%. Red Robin Gourmet Burgers’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.27 EPS. Equities research analysts predict that Red Robin Gourmet Burgers will post $2.88 earnings per share for the current year.
In related news, CFO Guy J. Constant acquired 5,000 shares of the stock in a transaction dated Friday, February 24th. The stock was bought at an average cost of $47.30 per share, with a total value of $236,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.66% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Red Robin Gourmet Burgers by 43,842.6% in the first quarter. BlackRock Inc. now owns 1,561,279 shares of the restaurant operator’s stock worth $91,256,000 after buying an additional 1,557,726 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Red Robin Gourmet Burgers by 772.5% in the first quarter. Ameriprise Financial Inc. now owns 770,351 shares of the restaurant operator’s stock worth $45,027,000 after buying an additional 682,062 shares during the period. Hood River Capital Management LLC acquired a new stake in shares of Red Robin Gourmet Burgers during the first quarter worth $21,211,000. Nordea Investment Management AB acquired a new stake in shares of Red Robin Gourmet Burgers during the third quarter worth $14,021,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Red Robin Gourmet Burgers by 29.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,084,203 shares of the restaurant operator’s stock worth $63,371,000 after buying an additional 246,178 shares during the period.
About Red Robin Gourmet Burgers
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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