Maxim Group Issues an Upgrade on Red Robin Gourmet Burgers (NASDAQ:RRGB) Shares. What’s Next?

May 16, 2018 - By Nellie Frank

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Logo

Investors sentiment decreased to 1.08 in Q4 2017. Its down 0.18, from 1.26 in 2017Q3. It fall, as 22 investors sold Red Robin Gourmet Burgers, Inc. shares while 53 reduced holdings. 29 funds opened positions while 52 raised stakes. 17.16 million shares or 5.90% more from 16.20 million shares in 2017Q3 were reported.

North Star Inv Management holds 0% or 100 shares. Moreover, Citigroup Inc has 0% invested in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB). Daiwa Group Inc invested in 2,200 shares or 0% of the stock. Pinebridge Invs Lp holds 0.03% or 20,013 shares in its portfolio. Credit Suisse Ag, Switzerland-based fund reported 29,040 shares. Parallax Volatility Advisers Limited Partnership holds 0% in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) or 1,974 shares. Neuberger Berman Group Limited Com invested in 0% or 7,000 shares. 6 are held by Parkside Financial Bank. 78,679 were accumulated by Comerica Natl Bank. Cim Inv Mangement holds 0.07% or 3,750 shares in its portfolio. Deutsche State Bank Ag reported 0% of its portfolio in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB). Voya Inv Mngmt Lc owns 5,986 shares or 0% of their US portfolio. Assetmark has 0% invested in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB). Cramer Rosenthal Mcglynn Ltd Company owns 0.26% invested in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) for 290,296 shares. State Teachers Retirement Systems holds 0% or 37,200 shares.

Since March 5, 2018, it had 0 insider buys, and 3 insider sales for $418,020 activity. Howell Richard J had sold 2,000 shares worth $116,554.

Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Upgrade

It will be interesting to watch today’s trading of shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) as Maxim Group upped the stock from a “Hold” to a respectable “Buy”.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Ratings Coverage

Among 4 analysts covering Red Robin Gourmet (NASDAQ:RRGB), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Red Robin Gourmet has $7500 highest and $56 lowest target. $63.50’s average target is 2.34% above currents $62.05 stock price. Red Robin Gourmet had 7 analyst reports since December 14, 2017 according to SRatingsIntel. The rating was maintained by Stifel Nicolaus with “Hold” on Wednesday, April 18. The stock has “Buy” rating by Stifel Nicolaus on Wednesday, May 9. The rating was maintained by Canaccord Genuity with “Buy” on Thursday, December 14. The stock of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) earned “Buy” rating by Jefferies on Friday, December 22. Canaccord Genuity maintained the stock with “Buy” rating in Thursday, April 19 report. The firm earned “Hold” rating on Wednesday, January 3 by Stifel Nicolaus. The company was maintained on Monday, February 26 by Morgan Stanley.

The stock increased 2.90% or $1.75 during the last trading session, reaching $62.05. About 176,687 shares traded. Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) has risen 6.37% since May 16, 2017 and is uptrending. It has underperformed by 5.18% the S&P500.

Analysts await Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) to report earnings on May, 22 after the close. They expect $0.74 earnings per share, down 16.85 % or $0.15 from last year’s $0.89 per share. RRGB’s profit will be $9.60M for 20.96 P/E if the $0.74 EPS becomes a reality. After $0.78 actual earnings per share reported by Red Robin Gourmet Burgers, Inc. for the previous quarter, Wall Street now forecasts -5.13 % negative EPS growth.

Red Robin Gourmet Burgers, Inc., together with its subsidiaries, develops, operates, and franchises casual-dining and fast-casual restaurants in the United States and Canada. The company has market cap of $804.88 million. As of September 6, 2017, it operated approximately 550 Red Robin restaurants. It has a 26.86 P/E ratio.

More notable recent Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) news were published by: Benzinga.com which released: “Benzinga’s Top Upgrades, Downgrades For May 9, 2018” on May 09, 2018, also 247Wallst.com with their article: “Top Analyst Upgrades and Downgrades: Broadcom, Check Point Software, Cleveland Cliffs, Crocs, Papa Johns …” published on May 09, 2018, Benzinga.com published: “5 Biggest Price Target Changes For Wednesday” on May 16, 2018. More interesting news about Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) were released by: Benzinga.com and their article: “Red Robin Burgers Is ‘Ready To Fly,’ Analyst Says In Upgrade” published on May 09, 2018 as well as Benzinga.com‘s news article titled: “Stifel’s Deep Dive Into The Restaurant Sector” with publication date: April 22, 2018.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Institutional Positions Chart

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