Red Robin Gourmet Burgers (RRGB) is Downgraded by BofA/Merrill to Underperform

Red Robin Gourmet Burgers (RRGB) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Sep 13, 2016.

Many Wall Street Analysts have commented on Red Robin Gourmet Burgers. Red Robin Gourmet Burgers was Initiated by Standpoint Research to “Buy” on Aug 8, 2016. Shares were Reiterated by Maxim Group on Aug 4, 2016 to “Buy” and Lowered the Price Target to $ 71 from a previous price target of $77 .Red Robin Gourmet Burgers was Downgraded by Jefferies to ” Hold” on Jul 26, 2016.

On the company’s financial health, Red Robin Gourmet Burgers reported $0.75 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $0.80. The company had revenue of $305.50 million for the quarter, compared to analysts expectations of $313.39 million. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.

Red Robin Gourmet Burgers closed down -0.18 points or -0.37% at $48.83 with 156,919 shares getting traded on Monday. Post opening the session at $48.64, the shares hit an intraday low of $48.18 and an intraday high of $49.15 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Aug 15, 2016, Stuart B Brown (Chief Financial Officer) sold 5,846 shares at $53.15 per share price. According to the SEC, on Jun 24, 2016, Stuart I Oran (director) sold 1,200 shares at $52.62 per share price. On Jun 21, 2016, Carin Stutz (COO) purchased 978 shares at $50.99 per share price, according to the Form-4 filing with the securities and exchange commission.

Red Robin Gourmet Burgers Inc. is a casual dining restaurant chain. The Company is focused on serving a selection of gourmet burgers. Its offers gourmet burgers which it makes from ground beef as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings. It also offers burgers made from chicken breasts fish fillets turkey patties vegetarian and vegan options. It offers a selection of buns including ciabatta gluten free sesame onion and whole grain buns and jalapeno rolls-with a variety of toppings. It offers a variety of appetizers salads soups seafood and other entrees desserts its signature alcoholic and non-alcoholic specialty beverages and a variety of national and craft beers. It offers its products under the brand names Red Robin Red Robin Gourmet Burgers Red Robin America’s Gourmet Burgers & Spirits Red Robin Burger Works YUMMM Red Robin Gourmet Burgers and Brews and Red Robin Royalty.

Red Robin Gourmet Burgers

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