Morgan Stanley Trims Red Robin Gourmet Burgers (NASDAQ:RRGB) Target Price to $11.00

Red Robin Gourmet Burgers (NASDAQ:RRGB) had its price target reduced by stock analysts at Morgan Stanley from $12.00 to $11.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s target price would indicate a potential upside of 15.18% from the stock’s current price.

Several other research firms have also commented on RRGB. Wells Fargo & Co reduced their price target on shares of Red Robin Gourmet Burgers from $30.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 11th. Raymond James reaffirmed a “hold” rating on shares of Red Robin Gourmet Burgers in a research report on Wednesday, April 29th. ValuEngine downgraded shares of Red Robin Gourmet Burgers from a “strong-buy” rating to a “buy” rating in a report on Monday, August 3rd. Jefferies Financial Group lifted their target price on shares of Red Robin Gourmet Burgers from $6.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Finally, Bank of America lifted their target price on shares of Red Robin Gourmet Burgers from $9.00 to $10.00 and gave the company an “underperform” rating in a report on Friday, June 12th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Red Robin Gourmet Burgers currently has a consensus rating of “Hold” and an average price target of $24.13.

Shares of RRGB stock traded down $0.19 during trading on Wednesday, hitting $9.55. 7,168 shares of the stock traded hands, compared to its average volume of 896,471. The firm has a market capitalization of $123.72 million, a P/E ratio of -0.68 and a beta of 2.42. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.80 and a quick ratio of 0.67. The firm’s fifty day moving average price is $9.10 and its 200-day moving average price is $15.84. Red Robin Gourmet Burgers has a 52-week low of $4.04 and a 52-week high of $37.29.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings results on Tuesday, August 11th. The restaurant operator reported ($3.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.27) by ($0.04). The firm 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 15.10% and a negative return on equity of 25.04%. The firm’s quarterly revenue was down 47.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. As a group, equities research analysts expect that Red Robin Gourmet Burgers will post -10.88 earnings per share for the current year.

In other Red Robin Gourmet Burgers news, major shareholder Vintage Capital Management Llc sold 859,900 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $12.27, for a total value of $10,550,973.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.22% of the company’s stock.

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in Red Robin Gourmet Burgers by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 177,179 shares of the restaurant operator’s stock valued at $5,850,000 after acquiring an additional 4,768 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Red Robin Gourmet Burgers by 12.9% during the fourth quarter. Nuveen Asset Management LLC now owns 113,934 shares of the restaurant operator’s stock worth $3,762,000 after purchasing an additional 13,013 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Red Robin Gourmet Burgers by 22.8% during the first quarter. State of Alaska Department of Revenue now owns 12,004 shares of the restaurant operator’s stock worth $102,000 after purchasing an additional 2,230 shares in the last quarter. Smith Graham & Co. Investment Advisors LP grew its position in Red Robin Gourmet Burgers by 9.8% during the first quarter. Smith Graham & Co. Investment Advisors LP now owns 287,359 shares of the restaurant operator’s stock worth $2,448,000 after buying an additional 25,635 shares during the period. Finally, Texas Permanent School Fund grew its position in Red Robin Gourmet Burgers by 23.7% during the first quarter. Texas Permanent School Fund now owns 10,953 shares of the restaurant operator’s stock worth $93,000 after buying an additional 2,102 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.

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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