Red Robin Gourmet Burgers (NASDAQ:RRGB) had its price objective increased by Morgan Stanley from $11.00 to $14.00 in a research note issued to investors on Wednesday morning, Analyst Ratings Network reports. They currently have an equal weight rating on the restaurant operator’s stock.
RRGB has been the subject of several other reports. ValuEngine lowered Red Robin Gourmet Burgers from a strong-buy rating to a buy rating in a research note on Monday, August 3rd. Raymond James restated a hold rating on shares of Red Robin Gourmet Burgers in a research note on Wednesday, August 12th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Red Robin Gourmet Burgers currently has a consensus rating of Hold and a consensus price target of $22.86.
Shares of RRGB opened at $13.69 on Wednesday. The firm has a market cap of $212.76 million, a PE ratio of -0.75 and a beta of 2.53. The company has a current ratio of 0.52, a quick ratio of 0.40 and a debt-to-equity ratio of 1.25. The firm has a fifty day simple moving average of $12.99 and a two-hundred day simple moving average of $11.61. Red Robin Gourmet Burgers has a 1-year low of $4.04 and a 1-year high of $37.29.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Tuesday, August 11th. The restaurant operator reported ($3.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.27) by ($0.04). The company had revenue of $161.12 million for the quarter, compared to analysts’ expectations of $166.02 million. Red Robin Gourmet Burgers had a negative net margin of 22.56% and a negative return on equity of 52.03%. Red Robin Gourmet Burgers’s quarterly revenue was down 47.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. As a group, research analysts forecast that Red Robin Gourmet Burgers will post -11.28 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its holdings in Red Robin Gourmet Burgers by 389.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,766 shares of the restaurant operator’s stock worth $28,000 after buying an additional 2,201 shares during the period. State of Alaska Department of Revenue boosted its holdings in Red Robin Gourmet Burgers by 22.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 14,564 shares of the restaurant operator’s stock worth $191,000 after buying an additional 2,700 shares during the period. Advisor Group Holdings Inc. boosted its holdings in Red Robin Gourmet Burgers by 1,559.0% in the 2nd quarter. Advisor Group Holdings Inc. now owns 2,953 shares of the restaurant operator’s stock worth $30,000 after buying an additional 2,775 shares during the period. Tower Research Capital LLC TRC bought a new position in Red Robin Gourmet Burgers in the 1st quarter worth $27,000. Finally, Nuveen Asset Management LLC boosted its holdings in Red Robin Gourmet Burgers by 3.2% in the 1st quarter. Nuveen Asset Management LLC now owns 117,540 shares of the restaurant operator’s stock worth $1,002,000 after buying an additional 3,606 shares during the period. 93.90% of the stock is owned by institutional investors.
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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