Red Robin Gourmet (RRGB) Gets a Hold Rating from Wells Fargo
In a report released yesterday, Jon Tower from Wells Fargo maintained a Hold rating on Red Robin Gourmet (RRGB). The company’s shares closed last Monday at $31.30.
According to TipRanks.com, Tower is a 2-star analyst with an average return of 4.3% and a 50.0% success rate. Tower covers the Services sector, focusing on stocks such as Restaurant Brands International, Dave & Busters Entertainment, and Texas Roadhouse.
Currently, the analyst consensus on Red Robin Gourmet is a Moderate Buy with an average price target of $38.50.
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Based on Red Robin Gourmet’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $1.82 million. In comparison, last year the company had a GAAP net loss of $10.63 million.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RRGB in relation to earlier this year.
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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.