Red Robin Gourmet Burgers (NASDAQ:RRGB) Price Target Raised to $14.00 at Morgan Stanley

Red Robin Gourmet Burgers (NASDAQ:RRGB) had its price objective lifted by Morgan Stanley from $11.00 to $14.00 in a research report sent to investors on Wednesday morning, Anlyst Ratings reports. Morgan Stanley currently has an equal weight rating on the restaurant operator’s stock.

Other equities analysts also recently issued reports about the stock. ValuEngine downgraded shares of Red Robin Gourmet Burgers from a strong-buy rating to a buy rating in a research note on Monday, August 3rd. Raymond James reiterated a hold rating on shares of Red Robin Gourmet Burgers in a research note on Wednesday, August 12th. Three 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 has a consensus rating of Hold and an average price target of $22.86.

Shares of NASDAQ: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 firm’s 50 day simple moving average is $12.99 and its 200-day simple moving average is $11.61. Red Robin Gourmet Burgers has a one year low of $4.04 and a one year high of $37.29. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.40 and a current ratio of 0.52.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Tuesday, August 11th. The restaurant operator reported ($3.31) EPS for the quarter, missing the Zacks’ consensus estimate 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 return on equity of 52.03% and a negative net margin of 22.56%. The business’s revenue was down 47.7% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. Equities research analysts predict that Red Robin Gourmet Burgers will post -11.28 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its stake in Red Robin Gourmet Burgers by 389.6% in the second quarter. Public Employees Retirement System of Ohio now owns 2,766 shares of the restaurant operator’s stock valued at $28,000 after acquiring an additional 2,201 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in Red Robin Gourmet Burgers by 1,559.0% in the second quarter. Advisor Group Holdings Inc. now owns 2,953 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 2,775 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in Red Robin Gourmet Burgers in the first quarter valued at approximately $27,000. Royal Bank of Canada boosted its stake in Red Robin Gourmet Burgers by 774.8% in the first quarter. Royal Bank of Canada now owns 4,969 shares of the restaurant operator’s stock valued at $42,000 after acquiring an additional 4,401 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in Red Robin Gourmet Burgers in the second quarter valued at approximately $104,000. Institutional investors own 93.90% of the company’s stock.

Red Robin Gourmet Burgers Company Profile

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.

Recommended Story: What is the Moving Average Convergence Divergence (MACD) oscillator?

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

Receive News & Ratings for Red Robin Gourmet Burgers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Robin Gourmet Burgers and related companies with MarketBeat.com's FREE daily email newsletter.