Red Robin (NASDAQ:RRGB) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
RRGB has been the topic of several other reports. Stifel Nicolaus increased their target price on shares of Red Robin from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, April 18th. Morgan Stanley reissued an “equal weight” rating and set a $56.00 target price (down from $57.00) on shares of Red Robin in a research note on Monday, February 26th. Zacks Investment Research raised shares of Red Robin from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Wednesday, January 31st. TheStreet raised shares of Red Robin from a “c+” rating to a “b” rating in a research note on Thursday, April 26th. Finally, Canaccord Genuity reissued a “buy” rating and set a $75.00 target price on shares of Red Robin in a research note on Friday, April 20th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $67.82.
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NASDAQ:RRGB traded down $2.75 during mid-day trading on Monday, hitting $59.80. The company’s stock had a trading volume of 359,100 shares, compared to its average volume of 291,040. Red Robin has a 1 year low of $60.00 and a 1 year high of $62.15. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.47 and a current ratio of 0.65. The firm has a market cap of $811.37 million, a price-to-earnings ratio of 24.02, a PEG ratio of 2.42 and a beta of 0.30.
Red Robin (NASDAQ:RRGB) last posted its quarterly earnings results on Thursday, February 22nd. The restaurant operator reported $0.78 EPS for the quarter, beating the consensus estimate of $0.54 by $0.24. Red Robin had a net margin of 2.17% and a return on equity of 8.63%. The company had revenue of $342.35 million for the quarter, compared to analyst estimates of $330.51 million. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. equities research analysts predict that Red Robin will post 2.68 earnings per share for the current fiscal year.
In related news, Director Richard J. Howell sold 3,416 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $62.79, for a total transaction of $214,490.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pattye L. Moore sold 1,500 shares of the company’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $57.98, for a total transaction of $86,970.00. Following the transaction, the director now owns 3,047 shares of the company’s stock, valued at approximately $176,665.06. The disclosure for this sale can be found here. 1.64% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hussman Strategic Advisors Inc. acquired a new position in shares of Red Robin during the 4th quarter worth about $1,410,000. Chartwell Investment Partners LLC acquired a new position in shares of Red Robin during the 4th quarter worth about $3,900,000. Adams Diversified Equity Fund Inc. acquired a new position in shares of Red Robin during the 4th quarter worth about $677,000. Centenus Global Management LP acquired a new position in shares of Red Robin during the 4th quarter worth about $1,128,000. Finally, AXA raised its position in shares of Red Robin by 47.0% during the 4th quarter. AXA now owns 67,600 shares of the restaurant operator’s stock worth $3,813,000 after purchasing an additional 21,600 shares during the last quarter.
About Red Robin
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.