Maxim Group analyst Stephen Anderson maintained a Hold rating on Red Robin Gourmet (RRGB) today and set a price target of $25. The company’s shares opened today at $26.76, close to its 52-week low of $25.46.
Anderson commented:
“We maintain our Hold rating on Red Robin Gourmet Burgers (RRGB) and lower our price target to $25, from $29, following yesterday’s news of the resignation of CEO Denny Marie Post and the release of disappointing preliminary 1Q19 (March) results.”
According to TipRanks.com, Anderson is a 5-star analyst with an average return of 10.1% and a 66.8% success rate. Anderson covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Good Times Restaurants Inc, and Famous Dave’s Of America.
The word on The Street in general, suggests a Hold analyst consensus rating for Red Robin Gourmet with a $29 average price target, implying an 8.4% upside from current levels. In a report released today, Merrill Lynch also downgraded the stock to Hold.
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The company has a one-year high of $67.10 and a one-year low of $25.46. Currently, Red Robin Gourmet has an average volume of 250.5K.
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Red Robin Gourmet Burgers, Inc. develops, operates, and franchises full-service restaurants North America. It serves a variety of salads, soups, appetizers, entrees, seafood and desserts. The company was founded in September 1969 and is headquartered in Greenwood Village, CO.
