Red Robin Gourmet Burgers, Inc. (RRGB) Receives Strong-Buy Rating from Raymond James Financial, Inc.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)‘s stock had its “strong-buy” rating reaffirmed by stock analysts at Raymond James Financial, Inc. in a research note issued on Tuesday, July 25th. They presently have a $85.00 price target on the restaurant operator’s stock. Raymond James Financial, Inc.’s price objective would suggest a potential upside of 40.26% from the stock’s current price.

A number of other brokerages have also weighed in on RRGB. Maxim Group reaffirmed a “buy” rating and issued a $80.00 price target on shares of Red Robin Gourmet Burgers in a research note on Tuesday, May 23rd. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $70.00 price target on shares of Red Robin Gourmet Burgers in a research note on Thursday, May 25th. Bank of America Corporation upped their price target on shares of Red Robin Gourmet Burgers from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Canaccord Genuity raised shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and upped their price target for the stock from $72.00 to $90.00 in a research note on Friday, May 26th. Finally, TheStreet raised shares of Red Robin Gourmet Burgers from a “c” rating to a “b-” rating in a research note on Thursday, May 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $72.80.

Red Robin Gourmet Burgers (NASDAQ:RRGB) traded up 2.62% during trading on Tuesday, reaching $60.60. 308,947 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $62.48 and a 200 day moving average price of $58.48. The stock has a market capitalization of $783.38 million, a P/E ratio of 93.95 and a beta of 0.62. 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 issued its quarterly earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The company had revenue of $315.80 million during the quarter, compared to analyst estimates of $315.69 million. Red Robin Gourmet Burgers had a net margin of 0.64% and a return on equity of 8.00%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. Equities research analysts expect that Red Robin Gourmet Burgers will post $2.75 earnings per share for the current year.

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In other news, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $71.80, for a total transaction of $211,522.80. Following the sale, the director now owns 6,547 shares in the company, valued at $470,074.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glenn B. Kaufman sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $72.25, for a total transaction of $289,000.00. The disclosure for this sale can be found here. 2.66% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in RRGB. Public Employees Retirement System of Ohio raised its stake in Red Robin Gourmet Burgers by 10.3% in the first quarter. Public Employees Retirement System of Ohio now owns 1,759 shares of the restaurant operator’s stock worth $103,000 after buying an additional 164 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in Red Robin Gourmet Burgers during the second quarter worth about $105,000. Benjamin F. Edwards & Company Inc. raised its stake in Red Robin Gourmet Burgers by 74.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,431 shares of the restaurant operator’s stock worth $142,000 after buying an additional 1,037 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Red Robin Gourmet Burgers during the second quarter worth about $149,000. Finally, Seven Eight Capital LP purchased a new stake in Red Robin Gourmet Burgers during the second quarter worth about $163,000.

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.

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

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