Maxim Group Thinks Red Robin Gourmet’s Stock is Going to Recover


In a report released today, Stephen Anderson from Maxim Group maintained a Buy rating on Red Robin Gourmet (NASDAQ: RRGB), with a price target of $54. The company’s shares closed yesterday at $41, close to its 52-week low of $36.20.

Anderson wrote:

“We maintain our Buy rating and $54 price target for Burgers (RRGB) following yesterday’s news of management changes. Market close, RRGB announced that COO Carin Stutz will be leaving her role effective immediately. She will be replaced by current CFO Guy Constant, who will serve as COO and interim CFO while a new CFO search is underway. Our EPS estimates are unchanged at $0.15 for 3Q18 (vs. $0.11 consensus), $2.03 for 2018 (vs. $1.91 consensus and $1.80-$2.20 guidance), $2.77 for 2019 (vs. $2.20 consensus), and $3.18 for 2020 (vs. $2.58 consensus), as we detailed in our August 22, 2018 company post-2Q18 earnings report.”

According to TipRanks.com, Anderson is a top 100 analyst with an average return of 15.9% and a 76.4% success rate. Anderson covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Good Times Restaurants Inc, and Dine Brands Global Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Red Robin Gourmet with a $47.75 average price target.

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Red Robin Gourmet’s market cap is currently $533.1M and has a P/E ratio of 37.61. The company has a Price to Book ratio of 1.36.

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Red Robin Gourmet Burgers, Inc. engages in the development, operation, and franchise of full-service restaurants through its subsidiaries. It operates through the following segments: Restaurant, FranChise Royalties and Fees, and Other. It serves a variety of salads, soups, appetizers, entrees, desserts, and signature beverages.

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