Red Robin Gourmet Burgers (NASDAQ:RRGB) Price Target Lowered to $42.00 at Maxim Group

Red Robin Gourmet Burgers (NASDAQ:RRGB) had its target price decreased by stock analysts at Maxim Group from $44.00 to $42.00 in a research report issued on Thursday, Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Maxim Group’s price objective would suggest a potential upside of 57.42% from the stock’s previous close.

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Several other research firms also recently weighed in on RRGB. Stephens set a $36.00 target price on shares of Red Robin Gourmet Burgers and gave the company a “buy” rating in a report on Monday, August 26th. Stifel Nicolaus dropped their target price on shares of Red Robin Gourmet Burgers from $35.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday. ValuEngine downgraded shares of Red Robin Gourmet Burgers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Morgan Stanley raised their target price on shares of Red Robin Gourmet Burgers from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Finally, Raymond James restated a “hold” rating on shares of Red Robin Gourmet Burgers in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $34.00.

Shares of RRGB stock traded down $0.24 during mid-day trading on Thursday, hitting $26.68. The stock had a trading volume of 288,000 shares, compared to its average volume of 338,330. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.42 and a quick ratio of 0.28. The company’s 50-day simple moving average is $31.86 and its 200-day simple moving average is $31.95. Red Robin Gourmet Burgers has a fifty-two week low of $24.57 and a fifty-two week high of $36.85. The firm has a market cap of $414.57 million, a PE ratio of 15.42, a PEG ratio of 3.06 and a beta of 1.23.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its earnings results on Tuesday, November 5th. The restaurant operator reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.02). Red Robin Gourmet Burgers had a negative net margin of 0.82% and a positive return on equity of 4.87%. The business had revenue of $294.22 million for the quarter, compared to analysts’ expectations of $289.52 million. During the same quarter last year, the business posted $0.16 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. On average, analysts expect that Red Robin Gourmet Burgers will post 0.85 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of RRGB. Kavar Capital Partners LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the second quarter worth about $31,000. Tower Research Capital LLC TRC grew its holdings in shares of Red Robin Gourmet Burgers by 65.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,102 shares of the restaurant operator’s stock worth $125,000 after buying an additional 1,629 shares in the last quarter. Aperio Group LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the second quarter worth about $153,000. State of Tennessee Treasury Department grew its holdings in shares of Red Robin Gourmet Burgers by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 5,697 shares of the restaurant operator’s stock worth $189,000 after buying an additional 448 shares in the last quarter. Finally, Harvest Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the third quarter worth about $233,000.

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. The company's restaurants primarily offer burgers; various appetizers, salads, soups, seafood, and other entrees; and desserts, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.

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

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