Maxim Group analyst Stephen Anderson downgraded Red Robin Gourmet (RRGB) to Hold today and set a price target of $29. The company’s shares closed yesterday at $29.65, close to its 52-week low of $25.46.
Anderson observed:
“We downgrade Red Robin Gourmet Burgers (RRGB) to Hold, from Buy, and reduce our price target to $29, from $46, following mixed 4Q18 (December) results and the announcement of lackluster 2019 guidance.”
According to TipRanks.com, Anderson is a 5-star analyst with an average return of 10.8% and a 66.7% success rate. Anderson covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Good Times Restaurants Inc, and Dine Brands Global Inc.
Currently, the analyst consensus on Red Robin Gourmet is a Moderate Buy with an average price target of $40.
See today’s analyst top recommended stocks >>
Based on Red Robin Gourmet’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.63 million. In comparison, last year the company had a net profit of $8.81 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
